Allergy Immunotherapy Gains Massive Traction as Doctors Find Pharmacotherapy Insufficient to Control Allergic Diseases

The global allergy immunotherapy market is envisioned to increase growth while riding on the rapid expansion of patient pool and various other factors. Collaborations between independent research centers and hospitals and companies operating in the market could spur growth in the foreseeable future. The demand for allergy immunotherapy is expected to soar with increasing incidence of hypertension, diabetes, asthma, allergy, and other chronic diseases. The University of Michigan’s Mary H. Weiser Food Allergy Center’s Jessica O’Konek, PhD has led the research of a therapy that could potentially reverse peanut allergies or redirect allergic response to peanuts with the help of a nasal spray vaccine.

The global allergy immunotherapy market to earn more than a US$3.33 bn by the end of 2025, expanding at a 10.7% CAGR during the completion of the forecast tenure 2017-2025. In 2016, the market was valued at a US$1.37 bn.

High Clinical Research and Development Budget to Fulfill Unmet Needs Fuels Growth

The world allergy immunotherapy market is foreseen to gain impetus with the support provided by some powerful factors such as:

  • Rising incidence of allergic disorders across the world
  • Insufficiency on the part of pharmacotherapy in treating allergic disorders
  • Non-profits and governments allocating high budget for clinical research and development

Expansion of the world allergy immunotherapy market could be propelled by:

  • Introduction of new products
  • Rapid growth of allergic population
  • Increasing awareness about allergy treatment

Here are some significant statistics that could give some idea about factors influencing the growth of the world allergy immunotherapy market.

  • Allergic rhinitis affects nearly 30% of the world population, as per the findings of the World Allergy Organization (WAO).
  • More than 13% and 8% of U.S. adult population suffers from sinusitis and hay fever (in that order), according to the Summary Health Statistics for U.S. Adults: 2010 National Health Interview Survey.
  • In the last five decades, allergic diseases have been prevailing with a telling rise around the globe, according to WAO.

Hospital Pharmacies Providing Easy Availability of Drugs Preside Over Market

TMR has projected the world allergy immunotherapy market to witness the rise of leading segments as per different categories.

  • By type of allergy, allergic rhinitis could collect a handsome share of the market while expanding at an over 14.0% CAGR. Nevertheless, asthma is anticipated to showcase significant growth on the back of sublingual immunotherapy (SLIT) and subcutaneous immunotherapy (SCIT) proving their effectiveness in treating allergic asthma.
  • By distribution channel, a dominant share of the market could be secured by hospital pharmacy while rising at a 9.9% CAGR. Expansion of top pharmaceutical chains and easy availability of allergy immunotherapy drugs could bode well for the segment.
  • By type of treatment, SCIT is prophesied to continue securing the driver’s seat of the market, taking into consideration its over 65.0% share obtained in 2016.

Europe Keeps Control of Growth with Launch of New Therapies for Allergy Treatment

Forecasted to post an 11.5% CAGR, Europe could well be at the top of the list of leading regions of the international allergy immunotherapy market. Even in 2016, the region had reflected its dominance on the market in terms of revenue. Following are some factors that could support the regional market in the coming years:

  • Strong clinical research and development budget
  • Launch of new therapies for allergy treatment
  • High incidence of allergic diseases

There could be other highly attractive regions such as North America envisaged to gain momentum with new product launches and approvals, swelling awareness about allergy treatment, and the U.S. testifying a prominent rise in allergic population. Asia Pacific, on the other hand, could expand at a decent rate as China and Japan get their hands around stronger shares of the regional market.


Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports