Allergy Immunotherapy Market Combating the Rising Tide: The Allergy Immunotherapy Market Poised for Growth

Allergy Immunotherapy Market is to reach over USD 4.01 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Allergy Immunotherapy Market Size, Share & Trends Analysis Report By Treatment Type (SCIT, SLIT), By Allergy Type (Allergic Rhinitis, Asthma), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), Region, Market Outlook And Industry Analysis 2031"

The global Allergy Immunotherapy market is estimated to reach over USD 4.01 billion by 2024-2031, exhibiting a CAGR of 8.7% during the forecast period.

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Rising Allergy Burden and the Search for Solutions
The global prevalence of allergies is on the rise, with a potential link to increasing income levels. This trend is concerning due to the strain complex allergies place on healthcare systems. Here are some key factors driving research and development in allergy treatments:

• Economic Impact: The rise in complex allergies, often requiring specialized care, creates a significant financial burden for healthcare systems worldwide. This fuels investment in new drug development and treatment options.

• Environmental Factors: Increased air and indoor pollution levels are contributing to a rise in allergy and asthma-related respiratory illnesses. The Asthma and Allergy Foundation of America (AAFA) estimates that rising pollen levels alone may be responsible for over 25 million allergy cases.

• Treatment Gaps: Existing allergy medications, particularly those focused on symptom relief, are not effective for all patients. The Canadian Allergy, Asthma, and Immunology Foundation reports that 20-25% of Canadians have allergic rhinitis, with half of those cases failing to respond adequately to conventional treatments.

This highlights the need for innovative solutions. Pharmaceutical companies are actively exploring new avenues, such as immunotherapy medications. For example, ALK's filing of their experimental tree SLIT tablet with Canadian regulatory bodies in 2019 demonstrates the industry's commitment to developing more targeted and effective allergy treatments.

By addressing the economic burden, environmental factors, and treatment limitations, researchers and pharmaceutical companies are working towards a future with better allergy management and improved quality of life for allergy sufferers.

List of Prominent Players in the Allergy Immunotherapy Market:

• DESENTUM OY
• HAL Allergy B.V.
• HollisterStier Allergy
• LETIPharma
• DBV Technologies SA
• ASIT Biotech
• Circassia
• Mylan N.V.
• Adamis Pharmaceuticals Corporation
• Merck KGaA
• Stallergenes Greer plc
• Allergy Therapeutics
• ALK-Abelló A/S

Market Dynamics:
Drivers-
The global market for allergy immunotherapy is anticipated to expand as a result of the increasing incidence and prevalence of allergic illnesses. For instance, the Centres for Disease Control and Prevention reported that in 2018, there were 19.2 million cases of hay fever in adults over the age of 18 and 5.2 million cases in children under the age of 18.

Additionally, rising pollution and environmental changes are fueling the expansion of the global market for allergy immunotherapy. For instance, the Asthma and Allergy Foundation of America (AAFA) estimates that over 23 million Americans suffer from symptoms of ragweed pollen allergy. For those who have allergies, these symptoms can make life miserable. They can also create asthma symptoms worse for those who have allergies and asthma.

Challenges:
Despite the many advantages of allergy immunotherapy, there is a poor rate of population compliance due to several issues, including inadequate patient knowledge and a lack of adequate funding. For instance, a 2022 article in the NCBI claims that the inconvenience of SCIT and the negative effects of subcutaneous and sublingual therapy are the main causes of patients stopping these treatments.

Additionally, the cost of allergy shots in the United States ranges from USD 1,600 to USD 4,000 annually for those without insurance coverage to USD 800 annually for those who receive sufficient reimbursement. Additionally, the SLIT drops in the nation have not yet received approval and are not insured. Hence, the high price for the therapy is limiting the market's expansion.

Regional Trends:
The region with the fastest CAGR was Europe, which is anticipated to maintain its lead throughout the projected period. This is explained by the substantial participation of key market players like ASIT Biotech, Circassia, Mylan N.V., and Merck KGaA. More than 150 million people in Europe currently have allergic illnesses, and by 2025, it is predicted that more than 50% of the region's population would have at least one type of allergy as a result of several factors, including industrialization, urbanization, climate change, and pollution.

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Recent Developments:
• In July 2022, The good findings regarding the significant advantage of sublingual liquid allergen immunotherapy treatment (AIT) on the beginning and worsening of asthma in patients with allergic rhinitis was released by Stallergenes Greer, a worldwide healthcare firm that specializes in allergen immunotherapy (AIT).

Segmentation of Allergy Immunotherapy Market-
By Treatment Type-
• Subcutaneous Immunotherapy (SCIT)
• Sublingual Immunotherapy (SLIT)
• Tablets
• Drops

By Allergy Type-
• Allergic rhinitis
• Allergic asthma
• Others

By Distribution Channel-
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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