August 2022, Market Research Future has published a Report on the “Global Allergy Immunotherapy Market Research Report - Forecast to 2027”
Global Allergy Immunotherapy Market - Overview
According to a recent study published by the Market Research Future analysts, the global allergy immunotherapy market is growing at a CAGR 10.85% CAGR to reach USD 4,324.7 million by 2027.mainly due to launch of the new sublingual immunotherapies in emerging economies, introduction of several allergen immunotherapy tablets (AITs) by major players, increase in risk factors causing allergies, rise in the screening rate for allergies, and current reimbursement scenario.
On the other hand, the allergy sector is unfortunately underrated and neglected in the context of global medical sector. According to the reports, Europe, being the largest market for allergy immunotherapy has 150 million patients suffering from chronic allergic diseases. Out of this patient population, half of them are underdiagnosed or poorly managed due to a lack of awareness and shortage of medical specialists. That being said, this scenario is changing with time. There has been an increase in screening for allergens due to rising income, government initiatives for screening, increasing penetration of diagnostic and healthcare etc. Availability of easy diagnostic kits for testing allergies and the serious nature of allergic reactions has led to the growth of market. Allergic reaction are a medical emergency. The reimbursement for medical emergencies is higher due to their high life threatening nature which is expected to drive the future market for allergy immunotherapy.
Report Details @ https://www.marketresearchfuture.com/reports/allergy-immunotherapy-market
Global Allergy Immunotherapy Market - Competitive Analysis
There are large number of companies involved in the development of the drugs and therapies for the allergy which are now being used in majority part of the developed countries. Global market for allergy immunotherapy is majorly dominated by six companies namely ALK-Abelló A/S, Stallergenes Greer, HAL Allergy Group, Allergy Therapeutics, Merck Group, and others. ALK-Abello taking about 38%, and Stallergenes Greer capturing 23%, these two companies hold more than half the global market for allergy immunotherapy.
ALK-Abelló A/S offers allergy immunotherapy products in the form of injections, sublingual drops and sublingual tablets. In January 2017, the company has acquired the operating assets in Allergy Laboratory of Oklahoma Inc., and Crystal Labs LLC. Back in 2015, the company took over the allergy immunotherapy activities of its former distributor in Turkey, Albio Allerji Ürünleri Ith. Ve Tic. Ltd. Sti. (Albio).
Another big player, Stallergenes Greer was form in 2015 by the union of two companies Stallergenes, and Greer. The company has adapted strategy of mergers and acquisitions for its growth in the allergy immunotherapy market. It provides both sublingual and subcutaneous immunotherapies. Besides that, HAL Allergy is one of the leading companies in the field of allergen immunotherapy (AIT).
Apart from these major companies, there are players like Sementis, Biomay AG, Adamis Pharmaceuticals Corporation, DBV Technologies, Circassia, and others which manufactures particular types of subcutaneous and sublingual immunotherapy majorly operate in specific regions and countries.
The global market consist of players such as ALK Abello A/S (Denmark), Allergy Therapeutics (UK), Circassia (UK), DBV Technologies (France), Stallergenes Greer (UK), Merck KGaA (Allergopharma) (Germany), and HAL Allergy Group (Netherlands) are some of the prominent players at the forefront of competition in the global allergy immunotherapy market and are profiled in MRFR Analysis report.
Global Allergy Immunotherapy Market - Regional Analysis
Europe is holding the largest market share in global immunotherapy market. The biggest factor in this large share is the huge patient population for the different types of allergies. Some major factors that attribute the growth of Europe immunotherapy market are, rise in prevalence of chronic diseases like allergy, asthma, diabetes and hypertension.
Americas is the second largest region in the allergy immunotherapy market. The growth in the American market is majorly due to the rise in the patient population and the number of product launches in recent years. To increase their share in the market companies are introducing more and more allergen immunotherapy tablets (AITs) in potential markets. For instance, products such as Mitizax (HDM) tablets, Merck’s Grastek (grass), Ragwitek (ragweed), and Greer’s Oralair (grass) were launched in the U.S. in between 2014-2015.
Asia Pacific region is far behind the major two regions in terms of value. Some of the reasons include non-existence of Japanese market for allergy immunotherapy, despite having a large population with allergic rhinitis, fewer than 6,000 patients were treated with Specific Immunotherapy in 2013.
Middle East & Africa current;y contributes least in the global market. However, there has been increase in the spending for healthcare in this region. This was essentially because of elections in a few nations, (for example, Ghana, Niger, Uganda, Zambia and Somalia), healthcare growth and population growth. Awareness for medicinal technology likewise expanded extraordinarily in recent years. Because of low local production, the region is dependent on imported medicinal products. The import standard in numerous nations is about 80% to 90%.