Market Size of Allergy Immunotherapy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Allergy Immunotherapy Market Analysis
The Global Allergy Immunotherapy Market size is expected to grow from USD 2.2 billion in 2023 to USD 3.04 billion by 2028, at a CAGR of 6.5% during the forecast period (2023-2028).
The COVID-19 pandemic adversely affected communities, industries, businesses, and lives across the world. Many companies received approval for their vaccines against the SARS-CoV-2 virus and still focusing their research and development on the development of therapeutics against COVID-19. However, allergy patients needed continuous treatment and medication supply owing to which healthcare professionals continued to give treatments or treatment advice during the pandemic. For instance, according to the study published in February 2021, by Allergy, Asthma & Immunology Research, it was recommended that allergic patients who were suffering from asthma, rhinitis, atopic dermatitis, or chronic urticaria should continue to receive maintenance therapy in a well-controlled manner during the pandemic. Furthermore, according to the study published in February 2021, by Current Allergy and Asthma Reports, to continue treatment of allergic rhinitis, remote health care tools for first visits or monitored patients were implemented during pandemic and it also suggested to continue treatment in case of uninfected patients or recovered from COVID-19 infection and interrupt in case of positive or suspected SARS-CoV-2 infection. Therefore, such instances indicate that the market continue to grow even after the pandemic.
The increasing burden of various types of allergies and launch of new sublingual immunotherapies in emerging economies are the major drivers for the market. The increasing burden of various types of allergies is one of the key drivers for the market. For instance, according to the journal published by the SingleCare in January 2022, more than 50.0 million Americans suffers from some type of allergy every year. It also reported that allergies are the sixth leading chronic illness in the United States. A survey was also conducted by SingleCare in 2021, which reported that 82.0% of respondents with allergies reported these allergies affects the quality of life in the United States. The survey result also showed that 14.0% of the respondents reported hospitalizations due to an allergic reaction. Therefore, such an increasing cases of allergies is anticipated to propel the demand for allergy immunotherapy thereby propelling the market growth over the forecast period.
Furthermore, the increasing focus of the companies on research and development activities to develop novel dallergy immunotherapy to cater to high unmet medical needs is highly impacting the market's growth. In February 2023, Nectar Life Sciences launched of its innovative comprehensive allergy care platform, Nectar. The first product offering from the company's allergy treatment program, Nectar Allergy Drops, are personalized, industry-proven sublingual immunotherapy drops to provide life-long relief from allergies by treating the root cause.
However, lack of awareness about allergy and treatments is expected to hinder the market growth over the forecast period.
