In its new study, Future Market Insights (FMI) has forecast the global allergy immunotherapy market growth to register upto 2030. The study also projects that market will reach a valuation of US$ 2,892.2 Mn by the end of 2030
The increasing prevalence of various kinds of allergies – allergic rhinitis, allergic asthma, food allergies, skin allergies, and others is propelling the demand for effective treatments. As patients seek advanced treatments to develop resistance against allergies and lead a hassle-free life, allergy immunotherapy has emerged as a fitting medical solution.
Moreover, allergic rhinitis is among the most common allergies, affecting 10% to 30% of the global population. Also known as hay fever, it leads to inflammation in the nose, swelling in the eyes, sneezing, among other symptoms when the person is exposed to allergens – mostly dust mites and pollen.
Although a remarkable proportion of the population does not seek medical attention, rising awareness regarding the availability of these treatments, coupled with increased spending on healthcare is expected to remain a crucial demand-side trend through the forecast period.
Key Takeaways from the Allergy Immunotherapy Study
- On the basis of product, injections are poised to account for over 2/3rds of market share backed by their effectiveness and easy availability
- Based on immunotherapy, SCIT holds the lion’s share in market value, accounting for 66% of global value, while SLIT is exhibiting higher attractiveness
- Among indications, allergic rhinitis and allergic asthma are poised to collectively account for around 3/5th of global value, ascribed to their high prevalence
- By type of allergen, pollens and house dust mites will cumulatively account for more than 2/5th of market value since pollens such as grass pollen and weed pollen are highly common in living areas
- Based on distribution channels, institutional sales account for more than half of overall value owing to high inpatient rates in government and semi-government hospitals
- Europe is expected to prevail as the most lucrative regional market, on the back of the rising prevalence of different types of allergies in the region
- North America and East Asia will cumulatively account for more than a quarter of market value, owing to the presence of a wide population base with allergies coupled with developing healthcare infrastructure
COVID-19 Impact on Allergy Immunotherapy Market
The outbreak of COVID-19 has sent ripples of uncertainty across the global pharmaceutical sector and the allergy immunotherapy market is no different. The market is expected to witness several mid-term and long-term impacts due to the pandemic, as demand for SLIT tablets and injections experiences contraction.
Likewise, shifting presence towards essential drugs is causing a delay in services, thus further slowing down the growth of the market. Along similar lines, shortages of staff and hindered supply chains during nation-wide lockdowns will further challenge the growth through the pandemic.
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Allergy Immunotherapy Market – Segmentation
Product:
- SLIT Tablets
- Odactra
- Grastek
- Ragwitek
- Oralair
- Actair
- Others
- Oral
- Palforzia
- Others
- Injections
- Others
Immunotherapy:
- Sublingual Immunotherapy
- Subcutaneous Immunotherapy
- Specific Immunotherapy
- Others
Indication:
- Allergic Rhinitis
- Allergic Asthma
- Food Allergy
- Atopic Dermatitis
- Others
Allergen:
- Pollens
- Grass Pollens
- Weed Pollens
- Tree Pollens
- House Dust Mites
- Mould
- Animal Dander
- Bee Venom
- Cockroaches/Insects
- Others
Distribution Channel
- Institutional Sales
- Government Hospitals
- Semi-Government Hospitals
- Private Hospitals
- Retail Sales
- Retail Pharmacy
- Drug Stores
- Online Pharmacy
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