Allergy Immunotherapies Market is Expected to Reach $4,114.6 Million by 2026

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OVERVIEW

Allergy Immunotherapies Market is expected to reach $4,114.6 million by 2026; growing at a CAGR of 11.2% till 2026.

Immunotherapy is a treatment for allergic reactions to substances such as grass pollens, house dust mites, and bee venom. Immunotherapy reduces inflammation that characterizes rhinitis and asthma. The incremental increases of allergen cause the immune system less sensitive to the substance, causing a blocking antibody, which reduces the symptoms of allergy when the substance is encountered in the future. Allergy immunotherapies are of two types subcutaneous immunotherapy, and sublingual immunotherapy. Subcutaneous immunotherapy (SCIT) is also known as allergy shots, is the most commonly used and most effective form of allergy immunotherapy. Sublingual immunotherapy (SLIT) is in the form of allergy tablets. SLIT reduces symptoms by helping the body build resistance to the effects of an allergen.

The rising prevalence of various allergies is a key driving factor of the market. For instance, according to the Asthma and Allergy Foundation of America, allergic rhinitis is common in Europe and Australasia. According to the World Health Organization, in 2017, an estimated number of people worldwide with asthma, linked to allergies, is approximately 235 million. According to the World Allergy Organization (WAO), an estimate of allergy prevalence of the global population by country ranges between 10 – 40%. In 2025, half of the European population will suffer from chronic allergic diseases compared to 150 million Europeans in 2017. According to the European Academy of Allergy and Clinical Immunology (EAACI), around 4 billion people will be suffering from allergic diseases in 2050. However, Lack of awareness about allergies and its treatments might hamper the market growth. For instance, in Europe, 49% of people are not aware of their food allergies and are undiagnosed due to the shortage of medical specialists.

Subcutaneous Immunotherapy and Sublingual Immunotherapy in the type segment of the market scope, and the application segment is categorized into Allergic Rhinitis, Allergic Asthma, and Other. The report covers the value of the global market by type and application.

The market value of subcutaneous immunotherapy was USD XX million in 2019, and it is expected to reach USD XX million by 2026, growing at a CAGR of XX during 2020-2026. The increasing clinical study of subcutaneous immunotherapy for allergy would propel the growth of the segment.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global allergy immunotherapies Value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America’s allergy immunotherapies market was USD XX million in 2019, and it is predicted to reach USD XX million by 2026, growing at a CAGR of XX during the forecast period. The increasing prevalence of Allergy would improve the growth of the market. For instance, according to National Center for Health Statistics, allergies are the 6th leading cause of chronic illness in the U.S. According to the National Center for Health Statistics, around 60 million Americans suffer from allergic rhinitis, and this number is increasing each year. 30% of adults and 40% of children suffer from allergies.

Major players operating in the allergy immunotherapies industry include ALK-Abello, Allergy Therapeutics, Circassia, DBV Technologies., HAL, Holister Stier, Leti, Merck KGaA (Allergopharma), Stallergenes Greer, Anergis S.A.

Commercialization of regulatory approved allergy immunotherapies, increasing clinical trials on drugs for allergy, and formation of strategic collaborations are some of the few business strategies adopted by the key companies, with a focus on maintaining a competitive advantage over others. The companies are focused on the expansion of business activities on a global scale. As per the allergy immunotherapies market study, ALK-Abello has the highest share in 2019, compared to other companies in the scope of the report. ALK-Abello has launched sublingual allergy immunotherapy (SLIT) tablet for the treatment of tree pollen allergy after the company received federal approval from authorities in 2019.