Feb 14, 2019 (Heraldkeeper via COMTEX) -- Market Research Future (MRFR)'s latest report reveals that the Global Allergy Immunotherapy Market is set to exhibit a steep rise in growth registering a CAGR of 10.85% during the forecast period 2017 to 2023. The market has been estimated to reach a valuation of USD 4,324.7 Mn by the end of 2023. The widespread prevalence of allergies has fueled demand in the allergy immunotherapy market. The trend is anticipated to perpetuate over the next couple of years. According to a report published by the World Health Organization (WHO), approximately 10-40% of the population was suffering from allergy in 2013.
Key Players for Global Allergy Immunotherapy Market
Market Research Future (MRFR) recognizes the following companies as the key players in Allergy Immunotherapy Market: There are plenty of large and small market players which operate in this market all over the globe.
Some of the key players profiled in the report are ALK Abello A/S (Denmark), DBV Technologies (France), Stallergenes Greer (UK), HAL Allergy Group (Netherlands), Allergy Therapeutics (UK), Merck KGaA (Allergopharma) (Germany), and Circassia (UK) among others.
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The increasing patient pool coupled with the availability of advanced allergy treatment procedures has augured well for the players of the allergy immunotherapy market. The market is expected to remain highly lucrative in the foreseeable future, and the increased investments in clinical trials and research & development activities are set to catapult the market on an upward trajectory.
The developing healthcare sector in emerging markets in Latin America, Asia, etc. are anticipated to steer the growth of the allergy immunotherapy market. Other favorable factors encouraging the growth of the market include increasing awareness of the treatment, technological advancement, growth strategies of major players, etc.
In August 2018, Arrayit Corporation, life sciences, and personalized medicine company announced its partnership with multiple providers of allergen immunotherapy products for allergy testing to treat patients with allergy and asthma.
In August 2018, Astria Sunnyside Hospital announced the availability of an allergy testing and treatment program. Allergy treatment options being offered at the hospital include sublingual immunotherapy and regular allergy shots.
Segments for Global Allergy Immunotherapy Market
By allergy type, the global allergy immunotherapy market has been segmented into allergic rhinitis, allergic asthma, peanut allergy, cat allergy, and other allergies. The allergic rhinitis segment currently accounts for a dominant share of the market. Meanwhile, the peanut allergy segment is estimated to register a CAGR of 11.3%.
By treatment, the allergy immunotherapy market is segmented into Subcutaneous Immunotherapy (SCIT), sublingual immunotherapy, and Specific Immunotherapy (SIT). The Subcutaneous Immunotherapy (SCIT) segment holds the largest share of the market and is projected to reach a valuation of USD 2,089.2 by 2023.
Regional Analysis for Global Allergy Immunotherapy Market
By region, the global allergy immunotherapy market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Europe accounts for the maximum share of the market and is expected to retain a significant share of the market towards the end of the assessment period. Led by Western Europe, the factors favoring the growth of the regional market are increasing patient pool, rising healthcare expenditure, etc.
Americas market is estimated to reach a valuation of USD 1,409.6 Mn by 2023. The growth is attributable to the increasing awareness regarding treatment of allergies and high prevalence of allergic rhinitis & skin allergy.
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Asia Pacific is projected to register a CAGR of 11.32% during the forecast period. Meanwhile, the U.A.E. currently holds 53.5% share of the Middle East & Africa market and resonates strong opportunities for growth.
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