Market Trends of Allergy Treatment Industry
This section covers the major market trends shaping the Allergy Treatment Market according to our research experts:
Subcutaneous Immunotherapy (SCIT) Segment is Expected to Hold Significant Share in the Market Over the Forecast Period
Subcutaneous immunotherapy (SCIT) is the most effective and widely used allergy immunotherapy. So far, SCIT is the only treatment that alters the immune system and brings systemic relief. SCIT helps prevent the further development of new allergies and asthma.
A study published in the Journal of Allergy and Clinical Immunology in December 2021 demonstrated the clinical efficacy of all house dust mite immunotherapy modalities and suggests that SCIT may be more effective than SLIT drops or tablets in controlling symptoms of allergic rhinitis. Thus, the increased efficacy of SCIT for treating allergies is expected to boost the market's growth over the forecast period.
Additionally, per the study published in the International Archives of Allergy and Immunology in February 2021, subcutaneous allergen-specific immunotherapy (SCIT) is one of the main cornerstones in treating allergic rhinitis in pediatric patients. It demonstrated symptomatic relief and quality-of-life improvements but is not exempt from adverse reactions (ADRs). Thus, due to its safety established in pediatric patients, subcutaneous immunotherapy is expected to boost the segment over the forecast period.
The innovative launch of immunotherapy products and rising approval are major factors boosting the segments. In December 2021, the Omalizumab add-on offered efficacy benefits and improved allergen immunotherapy tolerability. Additionally, in July 2021, the United States FDA approved GSK's Nucala (mepolizumab), a monoclonal antibody that targets interleukin-5 (IL-5), as a treatment for patients with chronic rhinosinusitis with nasal polyps.
Thus, all the factors mentioned above, such as the safety and efficacy of SCIT and product launches, are expected to boost segment growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share, with the United States accounting for the highest percentage. It is anticipated to maintain this trend throughout the forecast period.
The increase in allergy-related research activities and the increasing prevalence of allergies contribute to the regionregion's allergy treatment market growth published by the American College of Allergy, Asthma & Immunology, allergies are the sixth leading cause of chronic illness in the United States, with an annual cost of more than USD 18 billion, and more than 50 million Americans suffer from allergies each year. Food allergies among children and adults are increasing in the North American region. Thus, this surge in allergic diseases in the United States is expected to increase the demand for allergy treatment in the country. According to a study published in the December 2021 issue of the National Library of Medicine, rhinosinusitis affects an estimated 35 million people annually in the United States. It accounts for close to 16 million office visits per year. Thus, the rising prevalence of sinusitis is considered a positive indicator of the growth of the allergy treatment market.
Apart from the United States, the government of Canada is also focusing on providing Canadians with the information they require to make healthy and safe food choices. The CFIA (Canadian Food Inspection Agency) and Health Canada work with provincial, municipal, and territorial partners and industries to reach this goal.
Moreover, numerous drugs are under development in the United States, primarily to treat various types of allergies. Market players are focusing on the development and launch of new products. Anaphylaxis from occurring as a result of accidental peanut exposure. For instance, in April 2021, the FDA approved short ragweed pollen allergen extract to treat patients aged 5 to 65 years with short ragweed pollen-induced allergic rhinitis.
Thus, such factors as the rising burden of allergic diseases and government initiatives can lead to sustainable growth over the forecast period.
