In its new study, Future Market Insights (FMI) has forecast the global allergy immunotherapy market to register healthy growth between 2020 and 2030. The study also projects that market will reach a valuation of US$ 2,892.2 Mn by the end of 2030
The increasing prevalence of various kinds of allergies – allergic rhinitis, allergic asthma, food allergies, skin allergies, and others is propelling the demand for effective treatments. As patients seek advanced treatments to develop resistance against allergies and lead a hassle-free life, allergy immunotherapy has emerged as a fitting medical solution.
Moreover, allergic rhinitis is among the most common allergies, affecting 10% to 30% of the global population. Also known as hay fever, it leads to inflammation in the nose, swelling in the eyes, sneezing, among other symptoms when the person is exposed to allergens – mostly dust mites and pollen.
Although a remarkable proportion of the population does not seek medical attention, rising awareness regarding the availability of these treatments, coupled with increased spending on healthcare is expected to remain a crucial demand-side trend through the forecast period.
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Key Takeaways from the Allergy Immunotherapy Study
“Market players are focusing on developing novel treatment methodologies and procuring approvals from concerned authorities to strengthen their foothold,” said a FMI analyst.
COVID-19 Impact on Allergy Immunotherapy Market
The outbreak of COVID-19 has sent ripples of uncertainty across the global pharmaceutical sector and the allergy immunotherapy market is no different. The market is expected to witness several mid-term and long-term impacts due to the pandemic, as demand for SLIT tablets and injections experiences contraction. Likewise, shifting presence towards essential drugs is causing a delay in services, thus further slowing down the growth of the market. Along similar lines, shortages of staff and hindered supply chains during nation-wide lockdowns will further challenge the growth through the pandemic.
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Who is Winning?
Key players operating in the market are directing their efforts towards developing novel products and obtaining approvals to ensure revenue prospects and maintain their foothold amid the competition. On these lines:
FMI’s report includes profiles of some of the most prominent names in the market including 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.
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To Know More About Allergy Immunotherapy Market
A new market research report published by Future Market Insights (FMI) on the global allergy immunotherapy market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product, immunotherapy, allergen, indication, distribution channel, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.
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