VALLEY COTTAGE, New York,
March 15, 2019 /PRNewswire/
-- Increasing incidences of allergies and inefficient
treatment methodologies, such as pharmacotherapy, for controlling
the occurrence rate of allergies are fuelling adoption of allergy
immunotherapy, which is deemed as a designated cure for various
types of allergies. A notable shift of patients and healthcare
providers towards allergy immunotherapy has been observed, owing to
its competency to change the course of the disease and improve the
immunological resistance.
Development of new products to cure allergies is expected to
reflect positively on the growth of the global allergy
immunotherapy market. Analysing a cohort of these factors, a
new report published by Future Market
Insights opines that the allergy immunotherapy market is
poised to surpass a valuation of US$ 3.33
billion with an impressive CAGR of over 10% through
2025.
According to the study, growing focus on taking preventive
measures against chronic illnesses is also catalysing the allergy
immunotherapy market. The American College of Allergy, Asthma and
Immunology anticipates that allergies are the sixth-most
significant reason for the occurrence of the chronic illness in the
North America region. As stated by
the Centers for Disease Control and Prevention (CDC), over 50 Mn
Americans suffer from various types of allergies every year.
Moreover, it is estimated that by the end of 2025, about 50% of the
population will suffer from allergic diseases.
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Novel Product Launches in Sublingual Immunotherapy Segment to
Offer Lucrative Growth Opportunities to the Allergy Immunotherapy
Market
Depending on the treatment type, the sublingual immunotherapy
drugs segment is expected to hold a prominent share in the allergy
immunotherapy market during the forecast period. This is attributed
to the United States
Food and Drug Administration (FDA) approval for sublingual
therapy. Launch of novel therapies such as Ragwitek, Grastek, and
Oralair has significantly influenced the allergy immunotherapy
market growth. In addition to this, development of Odactra to treat
the allergy caused by house dust mite is projected to trigger the
growth of allergy immunotherapy market.
Hospital Pharmacy Remains the Preferred Distribution Channel
in Allergy Immunotherapy Market
According to the FMI study, hospital pharmacy remains a
preferred distribution channel, and the status quo is likely to
continue throughout the forecast period. The study opines this
segment to grow at a significant CAGR through 2025, on the back of
wide availability of allergy immunotherapy products and drugs at
the hospital pharmacies. Sales are also surging through online
channels, with this segment likely to account for over 12% CAGR by
the end of 2025, owing to the development of leading pharmaceutical
chains.
Preview Allergy immunotherapy market is segmented by
(Distribution channel - online pharmacies, retail pharmacies and
drug stores & hospital pharmacies; Treatment type - sublingual
immunotherapy & subcutaneous immunotherapy; Allergy type -
asthma, allergic rhinitis, venom allergy & food allergy among
others;) - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2017 -
2025: https://www.futuremarketinsights.com/reports/allergy-immunotherapy-market
Popularity of Allergy Immunotherapy in Europe to Lend Lucrative Growth Opportunity
Market Players
According to the report, Europe
is projected to account for the largest share of the allergy
immunotherapy market during the forecast period. The growing size
of the allergy immunotherapy market in this region can be
attributed to the pervasiveness of allergic disorders, development
of novel therapies, and high budget sanctioned for the R&D of
an effective cure. As a result, Europe procures a prominent share with a
notable CAGR of 11.5% in the global allergy immunotherapy
market.
Growing awareness of the allergy and its treatment in parallel
to the development of the effective products have considerably
influenced the growth of the allergy immunotherapy market in
North America. Asia Pacific is envisaged to witness a steady
growth of the allergy immunotherapy market throughout the
forecasted period.
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Novel Products Launched by Manufacturers to Bolster Growth of
the Allergy Immunotherapy Market
Some of the key players of the global allergy immunotherapy
market comprise WOLW Pharma, Holister Stier, Leti, Allergopharma,
Stallergenes, Greer, Allergy Therapeutics, ALK-Abello A/S, HAL
Allergy Group, Biomay AG, Circassia, DBV Technologies, Aimmune
Therapeutics, and Merck KGaA, among others. Below are the insights
into the key developments of these players.
- In the year 2014, United States FDA approved the product of
Stallergeners S.A., ORALAIN, as it became the first immunotherapy
tablet for curing allergic rhinitis caused by grass pollen.
- In 2014 itself, Alk-Albeno A/S received approval for the launch
of Grastek as an effective cure for treating allergic
rhinitis.
Such neoteric development and product launches are expected to
boost the global allergy immunotherapy market.
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