The global allergy immunotherapy market is estimated to grow at a CAGR of ~8.7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing occurrence of allergic diseases globally, along with high demand for innovative allergic treatment procedures. Additionally, the rise in the prevalence of allergic conditions, such as food allergies, dust and pollen allergies, and others, is leading to the increased demand for immunotherapy. According to a report by the U.S. National Library of Medicine, 10% of the population in western countries, is challenge-diagnosed with food allergies, and the highest prevalence is noted amongst younger children. Moreover, the rising pollution levels, abnormal weather extremities linked to climate change, and increasing presence of dust particles in the environment, are some of the primary factors behind the increasing incidences of lung-related allergies. Such allergies, can also cause severe health-issues, such as, asthma amongst the patients. According to the World Health Organization statistics, asthma affected about 262 million individuals in 2019 worldwide and resulted in 461,000 deaths. Furthermore, surge in adoption of oral immunotherapy, along with the rising investment in medical R&D activities are projected to boost the market growth.
The market is bifurcated by treatment into subcutaneous immunotherapy, and sublingual immunotherapy out of which, the subcutaneous immunotherapy segment is anticipated to hold the notable share in the global allergy immunotherapy market over the forecast period as this therapy reduces the use of anti-allergic medication during the pollen season. Moreover, subcutaneous immunotherapy is highly efficiency in treating a wide varieties of allergies, including allergic rhinitis, seasonal pollinosis, house dust, and mite allergy. Such factors are estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
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.
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.
The global allergy immunotherapy market is further classified on the basis of region as follows:
Our in-depth analysis of the global allergy immunotherapy market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing prevalence of allergies globally, along with rising demand for immunotherapy is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~8.7% over the forecast period, i.e., 2022 – 2030.
Various complications, and side effects of immunotherapy are estimated to hamper the market growth.
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.
The major players in the market are Torii Pharmaceutical Co.,Ltd, ALK Abelló A/S, Allergy Therapeutics, Allovate, LLC, Circassia Group PLC, and others.
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.
The market is segmented by treatment, allergy type, distribution channel, and by region.
The allergic rhinitis segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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