The increased predisposition of individuals to allergies is expected to create an advantageous backdrop for the growth of the allergy immunotherapy market. Reports that assess the healthcare industry have been presented by Market Research Future, which creates reports on numerous industry verticals that examine the market progress and forecasts. The market is projected to achieve a CAGR of 10.85 % while accumulating revenues valued at USD 4,324.7 million by the end of the forecast period.
The increased occurrence of chronic diseases such as asthma, allergy, and diabetes are expected to benefit the allergy immunotherapy market. The market is expected to achieve traction due to the rise in research & development and clinical trials being conducted to test the drugs being formulated. Furthermore, an increased flow of capital in the allergy immunotherapy market is expected to accelerate market growth in the approaching period.
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Market Segmentation
The global allergy immunotherapy market is segmented on the basis of allergy type and treatment.
By allergy type, the market is segmented on the basis of allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies. The allergic rhinitis segment has captured the largest market share in the global market whereas the peanut allergy segment is projected to grow at a competitive CAGR of 11.30% during the forecast period. High usage of tobacco, greater respiratory anomalies and rising demand for new treatments has led to the growth of the allergic rhinitis segment.
By treatment, the market is segmented on the basis of subcutaneous immunotherapy (SCIT), sublingual immunotherapy, and specific immunotherapy (SIT). Sublingual immunotherapy is sub-segmented into sublingual immunotherapy drops and sublingual immunotherapy tablets. The subcutaneous immunotherapy (SCIT) segment claims the largest market share in the global allergy immunotherapy market and is estimated to reach the value of USD 2,089.2 by 2023. Subcutaneous immunotherapy (SCIT) is highly favorable in the treatment of allergies as it provides symptomatic relief, at the same time modifying the allergic disease by targeting the underlying immunological mechanism.
Competitive Analysis:
Leading players in the global allergy immunotherapy market include HAL Allergy Group, Merck KGaA (Allergopharma), Stallergenes Greer, DBV Technologies, Circassia, Allergy Therapeutics, and ALK Abello A/S.
In August 2019, a new trial was launched by the NIH, Genentech, and Novartis to assess the impact of experimental treatments for various food allergies.
Regional Analysis:
The global allergy immunotherapy market is expected to be dominated by Europe over the forecast period, with Western Europe emerging as the leading player in the global market and showing all the signs of sustained progress in the coming years. The rising prevalence of allergies in Europe and the growing awareness about the various ways of treating allergies is likely to be the major driver for the allergy immunotherapy market over the forecast period. The widespread prevalence of allergies in Europe has driven research into the epidemiology and treatment of allergies, with several major studies being carried out in the region in order to zero in on the exact nature and cause of various allergies. This is likely to be a major driver for the allergy immunotherapy market in Europe over the forecast period. Almost 150 million were estimated to be suffering from allergies in 2015, a figure expected to reach 50% of all Europeans by 2025; this is likely to drive the allergy immunotherapy market in Europe over the forecast period. The Western Europe market for allergy immunotherapy is expected to rise to USD 954.1 million by 2023.
Americas is also a major regional player in the global allergy immunotherapy market and is likely to remain a key player over the forecast period due to the overall growth of the healthcare research sector, rising prevalence of allergies, and the increasing awareness about various effective ways of treating allergies. The increasing desire to get down to the root cause of allergies and tackle the problem at its origin is likely to be a major driver for the allergy immunotherapy market in North America over the forecast period. The increasing prevalence of food allergies in North America is likely to drive the demand from the allergy immunotherapy market in the Americas over the forecast period. The Americas market for allergy immunotherapy is expected to rise to a valuation of USD 1,409.6 million by 2023.
Asia Pacific is also likely to retain an important place in the global allergy immunotherapy market over the forecast period due to the increasing prevalence of allergies and the increasing desire among the healthcare players in the region to eradicate the problem of allergies effectively. The Asia Pacific market for allergy immunotherapy is expected to exhibit the highest CAGR of 11.32% over the forecast period.
In the Middle East and Africa, the UAE is likely to dominate the market, holding 53.5% of the regional market by the end of the forecast period.
1 Report Prologue
2 Market Introduction
2.1 Introduction 18
2.2 Scope of Study 18
2.3 Research Objective 19
2.4 Assumptions & Limitations 19
2.4.1 Assumptions 19
2.4.2 Limitations 19
2.5 Market Structure 20
3 Research Methodology
3.1 Research Process 21
3.2 Primary Research 22
3.3 Secondary Research 22
3.4 Market Size Estimation 22
3.5 Forecast Model 24
4 Market Dynamics
4.1 Introduction 25
4.2 Drivers 25
4.2.1 Launch of New sublingual Immunotherapies in emerging Economies will Drive the Growth of the Market 25
4.2.2 Major Players are introducing Several Allergen Immunotherapy Tablets (AITs) in Potential Markets 26
4.2.3 Increase in risk Factors Causing Allergies 26
4.2.4 Rising Screening for Allergy and reimbursement Scenario 26
4.3 Restraint 27
4.3.1 Restricted Healthcare Spending in underserved Market of Europe will Restrain the Growth 27
4.4 Opportunity 27
4.4.1 Allergy Immune Therapies will be Launched in the US. 27
4.5 Challenges 28
4.5.1 High Cost of Allergy Immunotherapy 28
4.6 Micro Economic Indicators 28
5 Market Factor Analysis
5.1 Porter’s Five Forces Model 30
5.1.1 Bargaining Power of Suppliers 31
5.1.2 Bargaining Power of Buyers 31
5.1.3 Threat of New Entrants 31
5.1.4 Threat of Substitutes 31
5.1.5 Intensity of Rivalry 31
5.2 Supply Chain Analysis 32
5.2.1 R&D 32
5.2.2 Parts Manufacturing 33
5.2.3 Distribution 33
5.2.4 Marketing & Sales 33
5.2.5 Post-Sales Monitoring 33
5.3 Pricing Analysis 33
5.4 Investment Opportunity Analysis 34
5.5 Merger and Acquisition Landscape 35
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