Albany, NY -- (SBWIRE) -- 05/19/2018 -- Allergy Immunotherapy Market – Snapshot
The global allergy immunotherapy market is expanding at a considerable pace due to high prevalence and rise in incidences of allergies across the globe. The global allergy immunotherapy market was valued at US$ 1.37 Bn in 2016 and is projected to expand at CAGR of 10.7% from 2017 to 2025 to exceed the US$ 3.33 Bn by 2025. Expansion of the global allergy immunotherapy market is attributed to the rise in awareness regarding allergy treatment, rapidly growing allergic population, and launch of new products.
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Allergy immunotherapy, also referred to as desensitization or hypo-sensitization, is a medical treatment targeted for different types of allergies. There is an increase in prevalence of allergy and pharmacotherapy alone is insufficient to control the disease. The allergy immunotherapeutic treatment helps increase immunological tolerance and alters the disease course. The desensitization therapy provides long-term effect, which extends past the conclusion of treatment. This therapy helps improve the quality of life of patients with allergies.As per the World Allergy Organization (WAO), there has been a significant rise in prevalence of allergic diseases across the world in last 50 years. According to Summary Health Statistics for U.S. Adults: 2010 National Health Interview Survey, over 8% and 13% of adult people in the U.S. have hay fever and sinusitis, respectively. According to WAO, around 30% of the global population suffers from allergic rhinitis alone. Thereby, high prevalence and incidence rate of allergy across the globe are driving the global allergy immunotherapy market. Additionally, increase in awareness about allergy treatment and high clinical R&D budget by governments and non-profit organizations are projected to fuel the allergy immunotherapy market during the forecast period. Promising product pipeline creates opportunities for business development during the forecast period. Across the world, there are around 10 different drugs in phase-3 of the clinical pipeline studies for treating different allergy symptoms.
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The subcutaneous immunotherapy (SCIT), is extensively used and effective form of allergy immunotherapy. The SCIT treatment alters the immune system, thereby preventing the development of new allergies and asthma. Allergy tablets are a type of SLIT that treat certain allergies. These allergy tablets decrease the symptoms by helping the body build resistance to allergen effects. However, tablets can only treat a single type of allergen and do not avoid new allergies development and asthma. In 2014, the US Food and Drug administration (FDA) approved SLIT tablets to treat ragweed and grass pollen allergies.
The global allergy immunotherapy market is divided into four segments based on treatment type, allergy type, distribution channel, and geography. In terms of treatment type, the global allergy immunotherapy market is segmented into SCIT and SLIT. SCIT dominated the global allergy immunotherapy market in 2016, account for more than 65% share of the market. The segment is projected to expand at a moderate pace and gain market share during the forecast period.
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In terms of allergy type, the global allergy immunotherapy market is classified into allergic rhinitis, asthma, food allergy, venom allergy, and others. The allergic rhinitis segment accounted for a leading share of the global market. The segment is projected to continue its dominance during the forecast period. The asthma segment accounted for a significant share of the market due to effectiveness of SCIT and SLIT in the treatment of allergic asthma. The other segment includes allergies such as latex allergy, pollen allergy, and mold allergy. Distribution channels include hospital pharmacies, retail pharmacies & drug stories, and online pharmacies. The hospital pharmacies segment dominated the global allergy immunotherapy market in 2016 and is likely to gain share by the end of 2025.
Geographically, the allergy immunotherapy market has been categorized into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for the largest share of the global allergy immunotherapy market in 2016, followed by North America. Europe accounts for a large share of the market due to high awareness, increase in funding for research and grants, favorable medical reimbursement policies, rise in allergic population, and promising clinical pipeline products. The region is a highly attractive market and is anticipated to expand at a significant CAGR during the forecast period. The allergy immunotherapy market in Asia Pacific is anticipated to expand at a moderate growth rate. Majority of the market share of allergy immunotherapy is captured by Japan and China in Asia-Pacific region, owing to the presence of huge allergic population in these countries.
The global allergy immunotherapy market is consolidated with some companies accounting for majority share. Leading players operating in the global allergy immunotherapy market include Stallergenes Greer, ALK-Abello A/S, Allergy Therapeutics, Merck KGaA (Allergopharma), and HAL Allergy Group. Manufacturers are adopting new SLIT therapies commercialization in the international market to tap the unmet needs of allergy immunotherapy. Other prominent players operating in the global market include Biomay AG, Anergis, Aimmune Therapeutics, Circassia and DBV Technologies.