Albany, NY -- (SBWIRE) -- 04/03/2018 -- Allergy can be defined as a systemic immunological disease, wherein the immune system of the body reacts abnormally to a foreign substance. The foreign substance that triggers an allergic reaction is known as an allergen. Allergens are known to induce an immune response in human beings which are characterized by the presence of allergen-specific IgE antibodies. Allergic immunotherapy can be defined as the administration of allergen for the purpose of inducing tolerance specific to the allergen for the treatment of allergy. Allergy immunotherapy is a treatment that targets the underlying allergic disease, and affects the immunological mechanisms inducing immunologic tolerance. Allergies are caused due to exposure to various agents such as food, plants, pollen, and others. The various routes of exposure to allergens that lead to allergic reactions include inhalation, ingestion, skin contact, and injection. These allergens lead to a range of manifestations, including rhinitis, conjunctivitis, urticaria, and atopic dermatitis.
The global Allergy Immunotherapy Market is anticipated to witness significant growth during the forecast period owing to rise in prevalence of allergic reactions and chronic nature of allergies. Respiratory allergic reactions are known to be highly prevalent and affect over 30% of the total population. According to the WHO, rhinitis is anticipated to affect hundreds of millions of people and over 235 million people globally are known to be suffering from asthma.
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Ongoing research and development, increase in collaborations between hospitals and research centers for the development of newer treatments, rise in patient population, and technological advancements boost the growth of the market. However, lack of awareness among people regarding the available treatments for allergies and high treatment costs are anticipated to restrain the market.
The global allergy immunotherapy market can be segmented based on product type, application, distribution channel, and region. In terms of product type, the market can be categorized into sublingual immunotherapy, subcutaneous immunotherapy, and selective immunotherapy. Subcutaneous immunotherapy is considered to be one of the best of mode of treatment for the treatment of allergies. Sublingual immunotherapy can be sub-segmented into drops and tablets. Based on application, the global allergy immunotherapy market can be classified into asthma, allergic rhinitis, eye allergies, skin allergies, and others. In terms of distribution channel, the market can be divided into hospital pharmacies, retail pharmacies, online pharmacies, and others. The online pharmacies segment is anticipated to record significant growth during the forecast period, owing to factors such as ease of access to product comparison and discounts offered online.
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Geographically, the global allergy immunotherapy market can be segmented into five regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for the largest share of the global market in terms of revenue in 2016 and the trend is anticipated to continue during the forecast period. Strong growth in the region can be attributed to increase in well-established health care infrastructure, high awareness among people, and rise in prevalence of allergic reactions. Europe is expected to be the second leading market for allergy immunotherapy. However, the sluggish economy in the region is likely to negatively impact the growth of the market. The market in Asia Pacific is anticipated to record a high CAGR owing to factors such as growing government focus on enhancing health care facilities and increase in patient population.
Leading players operating in the global allergy immunotherapy market are Nycomed (subsidiary of Takeda Pharmaceutical), Biomay AG, Adamis Pharmaceuticals Corporation, Stallergenes Greer, ALK-Abello, Genentech, Inc. (a subsidiary of Roche), Verona Pharma, HAL Allergy Group, Mitsubishi Tanabe Pharma Corporation (a subsidiary of Mitsubishi Chemical Holdings Corporation), Anergis S.A., ASIT biotech, Circassia Pharmaceuticals, and DBV Technologies SA, among others.
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