On the basis of geographical analysis, the global allergy immunotherapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of presence of large share of young population which are more vulnerable to the allergic conditions, in countries, such as, India & China.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high rate of prevalence of allergic conditions in the region, combined with higher health awareness amongst the population. According to the World Allergy Organization, allergic rhinitis affects 10-30% of the general adult population and about 40% of children in the US and is considered the fifth most common chronic disease in the country.
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The global allergy immunotherapy market is further classified on the basis of region as follows:
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global allergy immunotherapy market includes the following segments:
By Allergy Type
By Distribution Channel
March 2020: Allergopharma, a subsidiary of Merck, was divested to Dermapharm Holding SE. With this divestment, the allergy treatment business of Merck in Europe was transferred to Dermapharm Holding SE.
August 2018: HAL Allergy B.V. announced that it had got the marketing authorization for SUBLIVAC Birch 40.000 AUN/ml and SUBLIVAC Trees 40.000 AUN/ml in Germany. These two preparations are used for the treatment of allergic rhinitis and rhino-conjunctivitis in adults.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The growing prevalence of allergies globally, along with rising demand for immunotherapy is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~8.7% over the forecast period, i.e., 2022 – 2030.
Ans: Various complications, and side effects of immunotherapy are estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the high prevalence of various kinds of allergies amongst the population.
Ans: The major players in the market are Torii Pharmaceutical Co.,Ltd, ALK Abelló A/S, Allergy Therapeutics, Allovate, LLC, Circassia Group PLC, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by treatment, allergy type, distribution channel, and by region.
Ans: The allergic rhinitis segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.