Allergy Immunotherapy Market Scenario
Allergy immunotherapy, also known as desensitization or hypo-sensitization is a novel therapy, which desensitizes the immune system by injections of allergen extract and thus targets the cause of allergy. The global allergy immunotherapy market is growing at a CAGR of 10.85 % during the forecast period.
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Allergy Immunotherapy Market Dynamics
Growing Allergens Exposure Is Driving A Strong Market Growth
According to the World Allergy Organization (WAO), estimates approximately 10 % to 40 % of the global population is suffering from an allergy in 2015. Growing prevalence of various chronic diseases like allergy, asthma, diabetes, and hypertension is driving the market growth. Increasing exposure to allergens owing to large-scale pollution is another driver of the market. The rapid adoption of Allergy Immunotherapy due to technological advancements and robust research pipeline is driving further market growth.
Growing Awareness And Increasing Healthcare Expenditure Is Driving A Large Demand
Changing healthcare practices, increasing healthcare expenditure and extended insurance cover coupled with the increasing awareness of treatments benefits, and growing success rate is driving faster market growth. Advantages of immunotherapy such as effectiveness and fewer side effects as compared to traditional therapy are feeding the demand for immunotherapy.
Nascent Stage Of Technology And High Price Is Hampering The Market
Allergy Immunotherapy Market Segments:
The global allergy immunotherapy market is segmented based on allergy type, treatment, and regions.
Based on allergy type, the market comprises of allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies.
Based on treatment, the market is divided into subcutaneous immunotherapy (SCIT), sublingual immunotherapy, and specific immunotherapy (SIT). Sublingual immunotherapy is further sub-segmented into sublingual immunotherapy drops and sublingual immunotherapy tablets.
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Middle East and Africa.
Allergy Immunotherapy Market Key players:
Some of the prominent vendors operating in the global allergy immunotherapy market are ALK Abello A/S (Denmark), Allergy Therapeutics (UK), Circassia (UK), DBV Technologies (France), Stallergenes Greer (UK), Merck KGaA (Allergopharma) (Germany), HAL Allergy Group (Netherlands), and others.
Industry News:
Mar 2015 – Global giant Serono proposed a merger with Stallergenes and Greer mediated by a fund having a 77.3 % stake in Stallergenes and which owns Greer outright. The merger will provide Ares Life Sciences an 86 % stake in a transatlantic allergy immunotherapy player. The move is aimed to take on deep-pocketed Merck and competitor Circassia.
June 2015 - Allergy Therapeutics PLC acquired Spain's Alerpharma SA for up to EUR 5.8 million in cash. Allergy Therapeutics will pay an initial EUR 3.8 million, and up to EUR 2 million based on sales performance data of 2016.
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Allergy Immunotherapy Market Regional Analysis
Europe is the top contributor to this market and is led by Germany, U.K., France, and Italy owing to the rise in prevalence of allergy, asthma, diabetes, and exposure to allergens. According to the European Academy of Allergy and Clinical Immunology, nearly 150 million European citizens were suffering from chronic allergic diseases in 2015, which is projected to grow by more than 50 % in 2025.
North America is dominated by the U.S. with a market value of USD 329.2 million in 2016. The Asia Pacific is projected to be the fastest growing market at a CAGR of 11.32 % led by China, Japan, and India. The Middle East & Africa is supposed to be dominated by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar. UAE dominates the market with a market share of 53.5 % of the Middle East & Africa market.
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