Market Overview:
Allergen immunotherapy, also known as desensitization or hypo-sensitization, involves administering gradually increasing doses of an allergen to a patient with the aim of reducing the symptoms of allergy. Allergy immunotherapy products are used for treating allergic conditions such as allergic rhinitis, asthma, and insect stings or bites. The products provide long-term relief to patients suffering from allergies by modifying the immune system’s response.
Market key trends:
One of the key trends witnessed in the global allergy immunotherapy market is the innovation in allergen immunotherapy products. Manufacturers are focusing on developing advanced allergen immunotherapy products with improved efficacy and safety. For instance, in August 2021, ALK introduced Oralair tablets for allergy treatment, which is an oral immunotherapy tablet for grass pollen allergy. Similarly, in October 2019, DBV Technologies launched Viaskin Peanut, an epicutaneous immunotherapy patch, for the treatment of peanut allergy in children ages 4-11 years. Such innovative products are expected to drive the growth of the global allergy immunotherapy market during the forecast period.
The global Allergy Immunotherapy Market Share is estimated to be valued at US$ 2,116.0 Million in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
The threat of new entrants: The global allergy immunotherapy market is a competitive market with a moderate threat of new entrants due to factors like high capital requirements and established brand loyalty among end users towards existing players.
Bargaining power of buyers: The bargaining power of buyers is moderate in this market as the specialized treatments available leave limited options for buyers to switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of a large number of raw material suppliers in the market.
The threat of new substitutes: There exists a low threat of substitutes due to lack of significantly cheaper or differentiated products that can provide similar benefits.
Competitive rivalry: The global allergy immunotherapy market witnesses high competitive rivalry among existing players due to their focus on expanding their product portfolio and geographic reach.
Key Takeaways
The global allergy immunotherapy market is expected to witness high growth, exhibiting a CAGR of 9.3% over the forecast period, due to increasing incidences of allergic disorders globally.
Regional analysis: North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to growing awareness about allergy treatments and favorable reimbursement policies in the region. Asia Pacific is expected to be the fastest growing market due to increasing healthcare spending and patient pool in the region.
Key players: Key players operating in the allergy immunotherapy market are Stallergenes Greer, ALK-Abello A/S, Allergy Therapeutics, Allergopharma, HAL Allergy Group, Aimmune Therapeutics, DBV Technologies, Leti Pharma, and Jubilant HollisterStier. These players are focusing on new product launches and mergers & acquisitions to garner higher market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
