April 21, 2024

Allergy Immunotherapy Market Growth accelerated by Technological Advancements In Treatment Procedures

Allergy immunotherapy, also known as desensitization or hypo-sensitization, utilizes allergen immunotherapy to treat allergic rhinitis and asthma. It involves administering increasing doses of an allergen to a patient via subcutaneous or sublingual means to develop tolerance against allergens. This is gaining popularity as an effective treatment option for various allergies such as asthma, rhinitis and insect stings.

The global allergy immunotherapy market was estimated to be valued at US$ 2312.79 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:
Manufacturers are focusing on development of advanced allergy immunotherapy products and procedures to improve efficacy and patient compliance. For instance, researchers are working on sublingual immunotherapy tablets that can dissolve under the tongue, eliminating the need for regular doctor visits. This will help in improving accessibility and adherence to treatment. Companies are also developing mobile applications and technologies to enable self-administration and remote monitoring of allergy immunotherapy. Such developments are expected to boost the adoption of allergy immunotherapy over the forecast period.

Segment Analysis
The global allergy immunotherapy market is segmented based on treatment, allergy type, distribution channel and geography. Based on treatment, the market is divided into sublingual immunotherapy and subcutaneous immunotherapy. The sublingual immunotherapy is dominating the segment as it offers a convenient form of treatment compared to conventional subcutaneous immunotherapy. It is administered under the tongue and does not require injections.

Key Takeaways

The global allergy immunotherapy market is expected to witness high growth over the forecast period driven by increasing cases of allergic rhinitis and asthma.

Regional analysis: North America is expected to hold the largest share of the global allergy immunotherapy market during the forecast period due to increasing prevalence of allergies, developed healthcare infrastructure and availability of reimbursement. According to a report published by the Asthma and Allergy Foundation of America, more than 50 million Americans suffer from allergies each year.

Key players: Key players operating in the allergy immunotherapy market are Allergy Therapeutics, Stallergenes Greer, GLENMARK, HAL Allergy Group, ALK, Circassia, Biomay, DBV Technologies, Aimmune Therapeutics and Anergis. ALK holds a leading position due to its broad product portfolio. Stallergenes Greer and Allergy Therapeutics are also among the top players owing to their strong geographic presence.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it