Allergy Immunotherapy Market Overview
The global allergy immunotherapy market is growing at a double-digit growth rate, according to a recent study published by Market Research Future analysts, mainly due to the launch of new sublingual immunotherapies in emerging economies, the introduction of several allergen immunotherapy tablets (AITs) by major players, an increase in risk factors causing allergies, a rise in the screening rate for all.
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Allergy Immunotherapy Market Highlights
Growing incidences of allergies and inefficient treatment methodologies to control the incidence rate of allergies, such as pharmacotherapy, are fueling the adoption of allergy immunotherapy, which is considered a designated cure for different types of allergies. Due to its competence to change the course of the disease and improve immunological resistance, a significant shift of patients and healthcare providers to allergy immunotherapy has been observed. It is expected that the development of new allergy cure products will reflect positively on the growth of the global market for allergy immunotherapy. The availability of simple diagnostic kits for allergy testing and the serious nature of allergic reactions have led to market growth. Allergic reactions are an emergency medical condition. Due to their high life-threatening nature that is expected to drive the future market for allergy immunotherapy, the reimbursement for medical emergencies is higher.
The growing focus on taking preventive measures against chronic diseases is also catalysing for allergy immunotherapy market, according to the study. In the forecast period, the launch of new sublingual immunotherapies in emerging economies and the presence of major players in the market for allergen immunotherapy are expected to drive the market. Growth opportunities for market players have been created by the growing unmet needs of new targeted drugs used to treat disease conditions. Many firms are investing in research and development to develop targeted drugs for different allergic conditions in order to capture this opportunity. However, limited expenditure on healthcare in the underserved European market will restrain growth.
Allergy Immunotherapy Market Segmental Analysis
The global allergy immunotherapy market has been categorised into allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and others based on the type of allergy.
The global market for allergy immunotherapy has been classified as sublingual immunotherapy, subcutaneous immunotherapy (SCIT), and specific immunotherapy on the basis of treatment (SIT).
Allergy Immunotherapy Market Regional Overview
The region-based global allergy immunotherapy market is split into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Europe holds the largest share of the global immunotherapy market for allergies. This can be attributed to the rise in chronic disease prevalence, such as allergy, asthma, diabetes and hypertension, and to the presence in the region of several pharmaceutical companies. In 2016, Europe held a 32 percent position in the global market for allergy immunotherapy.
During the forecast period, the Americas is expected to account for the second-largest market share. The market in the region is expected to be dominated by North America, mainly due to the high prevalence of allergic rhinitis & skin allergies and increasing awareness of allergy treatment. There are a large number of businesses involved in the development of allergy drugs and therapies that are now being used in most developed countries.
Due to increasing incidents of infectious diseases, improving healthcare infrastructure, and increasing awareness of allergy immunotherapy, In the global economy, Asia-Pacific is expected to be the fastest-growing region.
The Middle East & Africa allergy immunotherapy market is expected to expand dramatically due to the high prevalence of nasal allergies in Saudi Arabia, Kuwait, and the UAE.
Allergy Immunotherapy Market Competitive Landscape
The eminent players in the global allergy immunotherapy market are Allergy Therapeutic (UK), ALK Abello A/S (UK), Circassia (UK), DBV Technologies (UK), Merck KGaA (Allergopharma) (UK), Stallergenes Greer (UK), and HAL Allergy Group (UK).
Innovation, product development, and acquisition & mergers have been some of the key strategies followed by players operating in the global allergy immunotherapy market.
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