Allergy immunotherapy, also known as desensitization or hypo-sensitization, involves injecting controlled doses of allergens to build up tolerance. It helps in treating conditions like allergic rhinitis, asthma, and stinging insect allergy. Allergen immunotherapy decreases sensitivity to allergens with regular injections or sublingual drops over an extended period.
The global Allergy Immunotherapy Market is estimated to be valued at US$ 2312.79 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Addressing unmet medical needs presents a major market opportunity. Allergen immunotherapy is the only treatment that alters the underlying immune system and provides long-term relief from allergic diseases after discontinuation of treatment. It is recommended for patients who are not well-controlled with pharmacotherapy or want a long-term therapeutic option. The treatment has potential to address unmet needs of patients suffering from chronic allergies by offering disease-modifying effects. Increasing adoption of immunotherapy to achieve remission can drive significant growth of the market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in medium as significant capital requirement and economies of scale advantages possessed by existing players. However, lack of stringent regulations provide opportunities for new regional players.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of alternative treatment options. Buyers can easily switch to substitutes if face unsatisfactory services.
Bargaining power of suppliers: Suppliers have medium bargaining power due to differentiated nature of inputs and innovations. Established suppliers can influence price marginally.
Threat of new substitutes: Threat of substitutes is medium as alternative treatment options are available though not as effective as immunotherapy. Substitutes can pose threat if offered at competitive prices.
Competitive rivalry: The rivalry in the market is high due to presence of local and international established players investing in new product innovations and expansion.
SWOT Analysis
Strength: Availability of novel products, rising patents, increasing healthcare expenditure.
Weakness: High treatment cost, shortage of trained professionals, lack of awareness in developing nations.
Opportunity: Untapped emerging markets, favorable regulations, growing research financing.
Threats: Safety issues, reimbursement hurdles, strong dependence on few key players.
Key Takeaways
The global Allergy Immunotherapy Market is expected to witness high growth at a CAGR of 5.9% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 4018.43 Mn by 2030 from US$ 2312.79 Mn in 2023.
Regional analysis indicates North America dominates the global market and is estimated to maintain its lead throughout the forecast period. Rising allergy incidences, well-established healthcare infrastructure, and growing demand for personalized medicine are driving the North American market.
Key players operating in the Allergy Immunotherapy market are ALK-Abelló A/S, Stallergenes Greer, Allergy Therapeutics, HAL Allergy Group, DBV Technologies, and Aimmune Therapeutics. ALK and Stallergenes Greer are the market leaders with strong product portfolios and global presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
