Allergy Immunotherapy Market Players Promoting Novel Treatment Options to Reduce Reluctance

The allergy immunotherapy market  is expected to reach a value of US$ 2.89 billion through the forecast period (2020-2030). Adoption of allergy immunotherapy is growing strongly in hospitals and clinics, and this is likely to provide an impetus to market growth. Increasing prevalence of allergies among the population, combined with advances in allergy treatment are also driving growth, according to Future Market Insights.

Allergy is a bodily response stimulated by the biological system to foreign substances, referred to as allergens, that are typically not harmful to the body. Common allergens include pollen, certain food items, pet dander, in some cases, metals and even insects. Red eyes, cold, itchy rashes, shortness of breath, swelling, and sneezing are few of the allergic symptoms

“The US and Europe will remain key markets globally, with favourable reimbursement policies and novel treatment methodologies furthering market growth,” states the FMI Analyst.

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Allergy Immunotherapy Market – Important Highlights

• Europe will account for significant market share, owing to increasing awareness on novel treatment options
• Product-wise, injections are poised to account for 2/3rds of the market sharing, owing to easy availability and effectiveness
• SCIT holds 66% market share while SLIT is likely to present attractiveness in the coming years.
• By type of allergen, pollens and house dust mites will collectively account for more than 2/5^th of the market share, due to high presence of pollens in living areas.

Allergy Immunotherapy Market – Drivers

• Prevalence of oral immunotherapy in treating allergic rhinitis has been noticed in health care industries to treat accidental allergies.
• Changing lifestyle, environmental perils like excess pollution and increased consumption of alcohol has fuelled the demand for immunotherapy.
• Adoption of SLIT treatment has gained traction due to accelerating cases of ragweed, dust mites and grass pollen allergies.
• Rising awareness of the availability of these treatments is giving a major boost to the overall market.

Allergy Immunotherapy Market – Key Restraints

• High treatment cost is limiting the adoption of therapy, thereby, hindering overall development.
• Side-effects like gastrointestinal issues and skin-related disorders have led to reluctance among the population

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Expected Impact on Market by Coronavirus Outbreak

The allergy immunotherapy market can face long-term impacts due to contracted demand for SLIT tablets and injections. Inclination towards essential drugs is causing a delayed service too. Shortages of staff and disrupted supply chain will worsen the economic conditions to the core.

Competition Landscape

The key players in this market include ALK Abello (Europe), Stallergenes Greer (Europe), Allergy Therapeutics (Europe), Aimmune Therapeutics (U.S.), Anergis (Europe), Arrayit Corporation (U.S.), Biomay AG (Europe), HAL Allergy Group (Europe), DBV Technologies (Europe), and others.

Key Players are operating on the basis of market shares and manufacturers are focussing on launching innovative products. Strengthening regional and global presence to drive revenue prospects is the first and foremost aim of the participants.