Global Allergy Immunotherapy Market Poised to Surpass USD 4.07 Billion by 2033, Fueled by Rising Allergy Cases and Innovative Treatments

Posted on 2024-08-15 by Future Market Insights in Healthcare // 0 Comments

According to a recent report by Future Market Insights (FMI), the global allergy immunotherapy market is set to experience substantial growth, with its value projected to reach USD 4.07 billion by 2033, up from USD 1.74 billion in 2023. The market is expected to expand at a robust compound annual growth rate (CAGR) of 8.9% from 2023 to 2033.

This impressive growth trajectory is largely driven by the increasing prevalence of allergies worldwide. In the United States alone, approximately 15 million people suffer from food allergies, with over 60% of these cases occurring in adults, according to the Food Allergy Research & Association (FARE). Allergies occur when the immune system becomes hypersensitive to specific substances such as foods, pollen, dust, or animal fur, triggering a range of allergic reactions.

Allergy immunotherapy offers a promising treatment approach by gradually exposing the body to small amounts of allergens, thereby enabling the immune system to build tolerance over time. This method, which includes sublingual and subcutaneous immunotherapy, has been clinically proven to be more effective and to have fewer adverse effects compared to other treatments currently available.

Market Drivers:

The Allergy Immunotherapy Market’s growth is fueled by several key factors:

Rising Allergy Burden: The increasing global incidence of allergies, particularly complex allergies with higher morbidity, is driving research and development efforts toward innovative treatments.
Healthcare Advancements: Improvements in healthcare infrastructure and the introduction of novel immunotherapeutic drugs are propelling market expansion.
Environmental Factors: The growing levels of air pollution, both indoors and outdoors, have contributed to a rise in asthma and allergy-related respiratory illnesses.

According to the Asthma and Allergy Association of America (AAFA), rising pollen levels are responsible for more than 25 million allergy cases, further underscoring the need for effective treatments.

Regional Insights:

Europe and North America currently dominate the Allergy Immunotherapy Market and are expected to maintain significant market shares throughout the forecast period. Europe, in particular, is poised to hold a substantial portion of the market due to increasing awareness, favorable healthcare reimbursement policies, and a growing population of allergy sufferers.

United Kingdom: Expected to grow at a CAGR of 9.1% through 2033.
United States: Projected to develop at a 9.1% CAGR during the forecast period.
Canada: Anticipated to grow rapidly with a CAGR of 9.3%.
China: Forecasted to increase at a CAGR of 8.8%.
Germany: Estimated to grow steadily with a CAGR of 9.7% until 2033.

Explore Comprehensive Findings: Find the Full Report on the Allergy Immunotherapy Market

Competitive Landscape:

Leading players in the allergy immunotherapy market, including ALK Abello, Stallergenes Greer, Allergy Therapeutics, Aimmune Therapeutics, Anergis, and DBV Technologies, are at the forefront of developing innovative products such as sublingual and subcutaneous immunotherapy. These companies are heavily investing in research and development to enhance the efficacy and safety of existing therapies and to expand their market reach through strategic partnerships and collaborations.

Recent Developments:

In September 2021, ALK announced plans to expand access to allergy testing, immunotherapy treatments, and adrenaline products by at least 100,000 new patients annually by 2030.
In June 2021, Stallergenes Greer resumed full production of its subcutaneous allergen immunotherapy (SCIT) product, Alustal®, in Italy and Spain, following a comprehensive restoration of its SCIT manufacturing capabilities.

Market Segmentation:

The Allergy Immunotherapy Market is segmented by product type, immunotherapy type, indication, allergen, distribution channel, and region. Key segments include:

Product: SLIT Tablets (Odactra, Grastek, Ragwitek, etc.), 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, Weed, Tree Pollens), House Dust Mites, Mold, Animal Dander, Bee Venom, Cockroaches/Insects, Others.
Distribution Channel: Institutional Sales (Government Hospitals, Private Hospitals, etc.), Retail Sales (Retail Pharmacy, Drug Stores, Online Pharmacy).
Region: North America, Latin America, Europe, South Asia, Oceania, East Asia, Middle East, and Africa.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Matched content

Editor’s pick