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Allergy Immunotherapy Market to Surpass US$ 4,739.6 Mn by 2031

Allergy Immunotherapy Market to Surpass US$ 4,739.6 Mn by 2031 - Coherent Market Insights

Publish In: May 31, 2024

Global Allergy Immunotherapy Market is estimated to be valued at USD 2,495.8 Mn in 2024, and is expected to exhibit a CAGR of 9.6% over the forecast period (2024-2031). Global allergy immunotherapy market is estimated to witness high growth, owing to rising allergy prevalence and growing adoption of sublingual immunotherapy. Furthermore, increasing prevalence of allergies worldwide due to environmental changes and genetic factors is expected to drive the market growth.

Market Dynamics:

Global allergy immunotherapy market growth is driven by rising prevalence of allergic diseases globally and growing adoption of sublingual immunotherapy. According to Asthma and Allergy Foundation of America, more than 50 million Americans suffer from allergies each year. Environmental factors such as air pollution and changing climate increases exposure to outdoor and indoor allergens. This has significantly contributed to  growth of the number of people diagnosed with allergic rhinitis, asthma and other respiratory allergies. Furthermore, sublingual immunotherapy has gained immense popularity as a reliable alternative to conventional allergy shots in the recent years due to its efficacy and convenience. With advantages such as ease of administration and fewer side effects, sublingual tablets are widely preferred by both patients as well physicians for effective long-term treatment of respiratory allergies.

Growing prevalence of allergies is driving the market growth

Rising prevalence of allergic diseases like asthma, allergic rhinitis, and atopic dermatitis is expected to drive the market growth. According to research, more than 50 million Americans currently suffer from some form of allergy. This rise in allergic patient population boosts demand for allergy immunotherapy. Immunotherapy is considered the only disease-modifying treatment option for allergies that can potentially provide long-term relief or cure after years of treatment. Growing patient pool diagnosed with different types of allergies worldwide provides a large target population for immunotherapy manufacturers.

Increasing awareness about immunotherapy drives the market growth

There has been increasing awareness among both patients and physicians about the advantages of immunotherapy over conventional treatment options like medications. Consumers are more informed about how immunotherapy aims to induce tolerance to specific allergens and provide long lasting relief after a few years of treatment. Unlike medications, immunotherapy does not provide only symptomatic relief but can potentially cure allergies. This awareness about disease-modifying benefits can drive the market growth. Various educational campaigns by industry players and allergist associations have enhanced knowledge about proper usage and success rates of immunotherapy. This boosts demand for safe and effective allergy immunotherapy products.

High cost of immunotherapy can hamper the market growth

Despite the rising prevalence of allergies and benefits of immunotherapy, its high cost deters many patients and physicians from adopting it as the first line of treatment. The therapy requires years of maintenance doses, which increases the overall cost. For example, the entire cost of 3-5 years of sublingual immunotherapy treatment can range from US$ 2,000 to US$ 5,000, making it unaffordable for many people. Even the healthcare systems in developed nations do not always provide full coverage for the immunotherapy cost. This financial burden on patients poses a major challenge for the market growth in terms of accessibility and volume sales.

Risk of adverse reactions hinders market growth

Since treatment involves controlled exposure to allergens, there is always an inherent risk of eliciting unintended allergic reactions during immunotherapy administration or build-up phases. Some common adverse effects reported are local reactions at the injection or droplet sites, as well as systemic reactions like anaphylaxis in rare cases. Physicians and patients remain apprehensive about the risks involved despite several safety enhancements in current products and protocols. This risk perception negatively impacts the willingness to opt for immunotherapy as the first line of treatment, limiting a stronger market penetration globally.

Development of novel delivery formats provides opportunity

Innovations in product formats that are safer, more convenient, and yield faster therapeutic effects can address the current restraints like cost and risk perception issues. Sublingual drops and tablets represent a major technological shift away from the traditional subcutaneous injections that were associated with higher adverse reaction rates. Ongoing R&D in needle-free and immunotherapy patches offers opportunities to achieve further improvements in efficacy, safety, delivery, and cost profiles. This progress in novel delivery systems can boost accessibility by making treatments more affordable and user-friendly.

Growing focus on precision medicine presents lucrative prospects

There has been rising focus on developing precision and personalized approaches to select the most suitable treatment protocols based on individual patient's profile, including their type, severity and causative allergens. This involves use of molecular diagnostics, predictive assays, genetically guided formula selections. Considering the heterogenic nature of allergic diseases, precision driven initiatives could help to optimize treatment success rates as well as fast-track new therapies and indications. Industry partnerships with diagnostic testing companies and clinical research in this domain are likely to reshape the market with new product pipelines tailored for niche patient subsets.

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Key Development

  • On January 8, 2024, Inimmune Corporation (Inimmune) and Intrommune Therapeutics, Inc. (Intrommune), clinical-stage companies that are focused on the development of innovative immunotherapeutics, announced collaboration to advance a revolutionary rapid, long-acting oral mucosal allergy immunotherapy for the treatment of peanut allergy
  • In May 2021, Glenmark Pharmaceuticals Limited, a pharmaceutical company, launched Ryaltris-AZ Nasal Spray for the treatment of moderate to severe allergic rhinitis, in India
  • In December 2020, Novartis AG, a pharmaceutical company, announced that it had received an approval from U.S. Food and drug Administration for adults with nasal polyps
  • In July 2020, Anergis SA, a company developing contiguous overlapping peptides (COPs) for ultra-fast allergy immunotherapy, and Virometix AG, a company developing a new generation of vaccines and immunotherapeutic drugs, announced that both companies had entered into a research collaboration. The study will be conducted at the Helmholtz Centre for Infection Research (HZI, Germany as part of TRANSVAC2, the European Network of Vaccine Research and Development funded under the European Union's Horizon 2020 Research and Innovation Program

Key Players: Stallergenes Greer, ALK-Abello A/S, Allergy Therapeutics, Allergopharma, HAL Allergy Group, Aimmune Therapeutics, DBV Technologies, Leti Pharma, Jubilant HollisterStier, Merck KGaA, Biomay AG, Hollister Allergy, Aravax Pty Ltd, Allovate, LLC

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