The global allergy immunotherapy market size is expected to reach USD 5.12 billion in 2028 and register a revenue CAGR of 10.5% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is spurred by factors such as increasing prevalence of different types of allergies globally – allergic rhinitis being one of the most common allergic diseases – and rise in R&D activities to develop more advanced and effective therapies. The American Academy of Allergy Asthma & Immunology claims that allergic rhinitis affects nearly 30% of the global populace. Growing prevalence of other allergic conditions including drug allergies, food allergies, and respiratory allergies such as allergic asthma further drives demand for allergy immunotherapy. Introduction of advanced immunotherapies for allergy, rising awareness of the availability of such treatments among people worldwide, increasing levels of environmental pollution, and changing lifestyles and eating habits are other important factors boosting the global market growth.
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Now that the tide is turning, more worldwide growth in the pharmaceutical business is likely to come from emerging nations, particularly China, where health systems are rapidly developing. Despite the fact that only a few acquisitions were announced or completed, tremendous growth is projected in the future years.
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In the past, developed countries were hesitant to trade in emerging markets, with only a few multinational pharmaceutical companies making acquisitions in Latin America, India, or China. However, with tremendous development potential in the East, major businesses in the pharmaceutical industry should explore acquisitions in China aggressively to gain a presence.
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Some Key Highlights from the Report:
- Among immunotherapy type segments, the subcutaneous immunotherapy (SCIT) segment is expected to account for the highest revenue share over the forecast period. One of the key factors contributing to growth of this segment is growing affordability and availability of allergy shots across hospital pharmacies, retail drug stores, and online pharmacies.
- Based on allergy type, the allergic rhinitis augment dominated other segments in terms of highest revenue contribution in 2020. Increasing cases of allergic rhinitis worldwide and rising adoption of advanced treatments are major factors boosting this segment’s growth.
- Among regional markets, Asia Pacific is the fastest-growing regional market for allergy immunotherapy and is projected to register a robust CAGR over the forecast period. Factors including rapid industrialization and urbanization, rising pollution levels, rapid climate change, and changing eating habits majorly account for market growth in the Asia Pacific region.
- Some of the top players in the global allergy immunotherapy market include Aimmune Therapeutics, Hollister Allergy, LETIPharma, Merck KGaA (Allergopharma), Stallergenes Greer, Allergy Therapeutics PLC, ALK-Abelló, HAL Allergy Group, Biomay AG, and Circassia.
For the purpose of this report, the global allergy immunotherapy market is segmented on the basis of immunotherapy type, allergy type, product type, and region:
Immunotherapy Type Outlook (Revenue, USD Billion; 2018-2028)
- Subcutaneous Immunotherapy (SCIT)
- Sublingual Immunotherapy (SLIT)
- Oral Immunotherapy (OIT)
- Transdermal Immunotherapy (TDIT)
- Others
Allergy Type Outlook (Revenue, USD Billion; 2018-2028)
- Allergic Rhinitis
- Allergic Asthma
- Food Allergies
- Others
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- SLIT Tablets
- Odactra
- Grastek
- Ragwitek
- Oralair
- Actair
- Others
- Oral
- Palforzia
- Others
- Injections
- Others
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of Middle East & Africa
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Growing advancements in medical therapies to drive market growth
The pharmaceutical and healthcare industry is driven by rapid advancements in customized therapies, medical devices, and surgical procedures. Integration of advanced technologies to accelerate research and development and manufacturing and production activities are some other factors driving market growth.
High prices of certain drugs might affect revenue growth
Launch of high-priced drugs to treat rare and chronic diseases and lesser affordability in middle- and low-income regions might limit their adoption and restrain market growth going ahead. In addition, less knowledge and awareness regarding advanced treatment approaches and lower adoption of advanced technologies might further hamper market growth over the forecast period.
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