Global Allergy Immunotherapies Market to Reach US$ 6.7 Billion by 2032, Impelled by Rising Incidences of Allergic Diseases

December 06, 2021 | Healthcare

According to the latest report by IMARC Group, titled "Allergy Immunotherapies Market Report by Treatment Type (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT)), Allergy Type (Allergic Rhinitis, Asthma, Food Allergy, Venom Allergy, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Region 2024-2032," the global allergy immunotherapies market reached a value of US$ 3.1 Billion in 2023. Allergy immunotherapy is a long-term medical treatment that aims to desensitize the immune system of an individual against specific allergens that trigger allergy symptoms. This therapy involves regular administration of gradually increasing doses of allergens in the patient’s body to improve the response of the immune system. This can often lead to long-lasting relief of the allergy symptoms following treatment discontinuation, thereby offering a long-term impact. Apart from this, immunotherapy is also associated with reducing inflammation, improving immunological tolerance and enhancing the quality of the patient’s life. Consequently, it is widely used as a preferred method for treating allergic asthma, allergic rhinitis, peanuts allergy, cat allergy, conjunctivitis and other kinds of hypersensitivity.

Global Allergy Immunotherapies Market Trends:

The global market is primarily driven by the increasing prevalence of allergies that are being triggered by numerous lifestyle changes and environmental factors. A significant increase in the global pollution levels and the increasing numbers of active and passive smokers have contributed to a decline in the functioning of the human immunity system. Consequently, allergy immunotherapy is widely being used to alter the course of the allergy with persistent effects. Along with this, there has been a considerable growth in the healthcare budgets of various countries, which is creating a positive outlook for the market. This is being supported by the favorable initiatives undertaken by the governments of numerous countries to spread awareness regarding the high efficacy rates of the therapy. The market is further driven by constant advancements in drug development technologies. Several companies have developed targeted drugs for allergies in the form of allergen immunotherapy tablets (AITs) and Sublingual immunotherapy (SLIT) tablets which are gaining widespread prominence among the users. Some of the other factors, such as advancements in the field of allergy diagnostics and inflating per capita income levels, are also influencing the market growth. On account of the aforementioned factors, the market is projected to reach a value of US$ 6.7 Billion by 2032.

Market Summary:

  • Based on the treatment type, the market has been bifurcated into subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT).
  • On the basis of the allergy type, the market has been divided into allergic rhinitis, asthma, food allergy, venom allergy and others.
  • Based on the distribution channel, the market has been classified into hospital, retail and online pharmacy.
  • On the geographical front, the market has been segregated into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market. Some of these players include ALK-Abelló A/S, Allergy Therapeutics plc, Stallergenes GREER Ltd, HAL Allergy Holding B.V., DBV Technologies, Merck KGaA, Aimmune Therapeutics Inc., Circassia Pharmaceuticals Inc., Anergis SA, and Biomay AG.

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Global Allergy Immunotherapies Market to Reach US$ 6.7 Billion by 2032, Impelled by Rising Incidences of Allergic Diseases
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