Covid 19 Impact on Allergy Immunotherapy Market To Grow At CAGR Of 10.85% By 2023

Allergy Immunotherapy Market Analysis

The global allergy immunotherapy market is expected to exhibit a strong 10.85% CAGR over the forecast period from 2017 to 2023, with the market rising to a valuation of USD 4,324.7 million, according to the latest research report from Market Research Future (MRFR).

The rising prevalence of allergies in Europe and North America and the growing awareness about the various ways of treating allergies is likely to be the major driver for the allergy immunotherapy market over the forecast period. The widespread prevalence of allergies has driven research into the epidemiology and treatment of allergies, with several major studies being carried out in order to zero in on the exact nature and cause of various allergies. This is likely to be a major driver for the allergy immunotherapy market in the Western World over the forecast period. The increasing prevalence of food allergies in North America is also likely to be a major driver for the allergy immunotherapy market over the forecast period.

Allergy Immunotherapy Market Competitive Analysis:

Leading players in the global allergy immunotherapy market include HAL Allergy Group, Merck KGaA (Allergopharma), Stallergenes Greer, DBV Technologies, Circassia, Allergy Therapeutics, and ALK Abello A/S.

In August 2019, a new trial was launched by the NIH, Genentech, and Novartis to assess the impact of experimental treatments for various food allergies.

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Allergy Immunotherapy Market Segmentation:

The global allergy immunotherapy market is segmented on the basis of allergy type and treatment type, in addition to region.

The global allergy immunotherapy market has been segmented on the basis of allergy type into allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies. Allergic rhinitis holds the largest share in the global allergy immunotherapy market, followed by allergic asthma. The peanut allergy segment is expected to exhibit the highest CAGR, of 11.30%, over the forecast period.

On the basis of treatment, the global allergy immunotherapy market is segmented into subcutaneous immunotherapy (SCIT), sublingual immunotherapy, and specific immunotherapy (SIT). Sublingual immunotherapy is further sub-segmented into sublingual immunotherapy drops and sublingual immunotherapy tablets. Subcutaneous immunotherapy is the leading revenue generator in the global allergy immunotherapy market and is likely to remain in the position over the forecast period due to the high efficacy of subcutaneous immunotherapy. The subcutaneous immunotherapy market is expected to rise to a valuation of USD 2,089.2 million by 2023.

Allergy Immunotherapy Market Regional Analysis:

The global allergy immunotherapy market is expected to be dominated by Europe over the forecast period, with Western Europe emerging as the leading player in the global market and showing all the signs of sustained progress in the coming years. Almost 150 million were estimated to be suffering from allergies in 2015, a figure expected to reach 50% of all Europeans by 2025; this is likely to drive the allergy immunotherapy market in Europe over the forecast period. The Western Europe market for allergy immunotherapy is expected to rise to USD 954.1 million by 2023.

Americas is also a major regional player in the global allergy immunotherapy market and is likely to remain a key player over the forecast period due to the overall growth of the healthcare research sector, rising prevalence of allergies, and the increasing awareness about various effective ways of treating allergies. The increasing desire to get down to the root cause of allergies and tackle the problem at its origin is likely to be a major driver for the allergy immunotherapy market in North America over the forecast period. The increasing prevalence of food allergies in North America is likely to drive the demand from the allergy immunotherapy market in the Americas over the forecast period. The Americas market for allergy immunotherapy is expected to rise to a valuation of USD 1,409.6 million by 2023.

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Asia Pacific is also likely to retain an important place in the global allergy immunotherapy market over the forecast period due to the increasing prevalence of allergies and the increasing desire among the healthcare players in the region to eradicate the problem of allergies effectively. The Asia Pacific market for allergy immunotherapy is expected to exhibit the highest CAGR of 11.32% over the forecast period.

In the Middle East and Africa, the UAE is likely to dominate the market, holding 53.5% of the regional market by the end of the forecast period.

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