Healthcare

Allergy Immunotherapy Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Allergy Immunotherapy by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Allergy Immunotherapy, The allergy immunotherapy market size has grown rapidly in recent years. It will grow from $2.59 billion in 2023 to $2.86 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increasing incidence of allergic diseases, advancements in immunotherapy techniques, growing awareness among patients, government initiatives, improvements in research and development.

The allergy immunotherapy market size is expected to see rapid growth in the next few years. It will grow to $4.43 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to rising global allergy burden, healthcare policy support, increasing acceptance of immunotherapy, emerging markets and untapped regions, increasing healthcare expenditure. Major trends in the forecast period include advancements in treatment technology, increasing allergy prevalence, rise in patient awareness and education, telemedicine and remote monitoring, customized treatment plans.

The rising prevalence of allergic disorders is expected to propel the growth of the allergy immunotherapy market going forward. Allergic disorders refer to excessive immune responses to specific antigens. Immune responses that are inappropriately directed against intrinsic bodily parts (self) result in autoimmune diseases. Allergy immunotherapy is available to atopic people who have allergy disorders like IgE-mediated allergic rhinitis and allergic asthma brought on by inhaled allergens, including pollens and house dust mites (HDMs). For instance, according to the Centers for Disease Control and Prevention (CDC), a US-based public health agency, in 2021, in the USA, nearly one-third of adults aged 18 and up suffered from a seasonal allergy, skin condition, or food allergy. Overall, seasonal allergy was the most common of the three allergies, with approximately one-quarter (25.7%) of adults diagnosed, followed by eczema (7.3%) and food allergy (6.2%). Women were more likely than men to be allergic to all three allergens. Also, the prevalence of seasonal allergy diagnoses was 24.7% in adults aged 18–44, 27.9% in adults aged 45–64, 26.4% in adults aged 65–74, and 21.7% in adults aged 75 and up. Therefore, the rising prevalence of allergic disorders is driving the growth of the allergy immunotherapy market.

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The allergy immunotherapy market covered in this report is segmented –

1) By Allergy Type: Allergic Rhinitis, Asthma, Food Allergy, Venom Allergy, Other Allergy Types

2) By Treatment: Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy, Specific Immunotherapy (SIT)

3) By Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy

Major companies operating in the allergy immunotherapy market are innovating technological products, such as the artificial intelligence (AI)-powered allergy component testing, to sustain their position in the market. Artificial intelligence (AI)-powered allergy component testing is a novel testing platform based on Component Resolved Diagnostics (CRD) for diagnosing various forms of allergies. For instance, in May 2023, Metropolis Healthcare Limited, an Indian-based Medical laboratory company launched artificial intelligence (AI)-powered allergy component testing. Artificial intelligence (AI)-powered allergy component testing is a fourth-generation allergy testing technology that uses Artificial Intelligence (AI) to assist clinicians in making clinical decisions. it provides great insights, selecting, and optimizing the course of treatment for allergic diseases. It is also capable of predicting the effectiveness of immunotherapy for allergy vaccinations which are effective or not.

The allergy immunotherapy market report table of contents includes: