Sublingual Immunotherapy Market to Reap Excessive Revenues by 2025
Albany, NY -- (SBWire) -- 03/15/2018 --Allergy is the harmful immune reaction produced by the body to a specific substance or allergen such as dust, pollen, mite, and food. Treatment of allergy generally consists of use of anti-allergy drugs and immunotherapy. These anti-allergy drugs or immunotherapy treatment reduces the allergic reaction caused due to an allergen by decreasing its sensitivity. Immunotherapy has become the most prominent treatment for various allergic diseases in the past few years. Immunotherapy acts by curing the root cause of allergy. This therapy effectively controls and manages the clinical symptoms, reduces or eliminates the need for medication, prevents the worsening of a disease, and reduces the degree of specific and nonspecific bronchial hyperactivity. Subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT) are the two types of immunotherapy. Acceptance of immunotherapy is rising in developed as well as developing countries owing to its positive results.
Sublingual immunotherapy exposes a patient to an allergic substance or an allergen repeatedly over a period of time to induce tolerance against that allergic substance. An allergen in the form of drops or a tablet is placed under the tongue. This therapy has been extensively used in Europe for the past 20 years to treat various allergies. Sublingual immunotherapy has several benefits. A major benefit is less risk of severe reactions to tablets or drops as compared to injections. Additionally, once the doctor has administered the first dose of SLIT, the patient can take the further doses by self at home. No more visits to the doctor or medical clinic are required for administration of the dose. Moreover, this therapy is simple, safe, and highly effective in treating allergies. These benefits are anticipated to boost the growth of the global Sublingual Immunotherapy Market during the forecast period.
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Sublingual immunotherapy, or allergy shots, is a long-term treatment for allergic disease such as allergic asthma, allergic rhinitis, allergic conjunctivitis (eye allergy), or insect allergy. Immunotherapy is a next generation treatment for allergy and it can modify the natural course of a disease. Increase in prevalence of allergies is a key driver of the global sublingual immunotherapy market. In 2015, prevalence of allergic diseases globally was estimated to be 20% to 30% of the world’s population, which is about 1 billion people suffering from some kind of allergies. Allergic rhinitis affects most of the population across the world. According to the World Allergy Organization (WAO), about 400 million people worldwide are affected by allergic rhinitis. Sublingual immunotherapy therapy is highly used in the treatment of allergic rhinitis. Increase in environmental pollution contributes to the growth of the sublingual immunotherapy market.
The global sublingual immunotherapy market can be segmented based on product type, distribution channel, and region. In terms of product type, the market can be categorized into drops and tablets. The U.S. Food Drug and Administration (FDA) has approved three allergy tablet products: Oralair, Grastek, and Ragwitek. Currently, there are no FDA-approved liquid drops available in the market. This provides an opportunity for pharmaceutical companies to invest and gain a foothold in the global sublingual immunotherapy drops market. Based on distribution channel, the market can be classified into hospital pharmacies, retail pharmacies and drug stores, and online pharmacies.
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In terms of region, the global sublingual immunotherapy market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America dominates the global market because of fast growing life science industry, rise in focus on research & new drug development, and increase in the number of pharmaceutical companies focusing on immunotherapy. Europe is the second largest market for sublingual immunotherapy. Most of the immunotherapy drugs are approved in Europe and adoption of the therapy is likely to increase rapidly during the forecast period. Asia Pacific is projected to be the most lucrative market for sublingual immunotherapy and is expected to expand at the highest growth rate from 2017 to 2025. Rise in government initiatives, grants, and funds; increase in life science R&D spending, especially in India, China, and Japan, and dedicated research commercial zones are attracting domestic and foreign players to invest and enter the lucrative research sector in Asia Pacific.
Key players operating in the global sublingual immunotherapy market include Allergon AB (Thermo Fisher Scientific, Inc.), HAL Allergy Group, Allergy Therapeutics, Stallergenes Greer, and ALK.
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