What is the global market size of Allergy Immunotherapy Market?

Allergy Immunotherapy Market size was valued at USD 2.4 billion in 2021 and is poised to grow from USD 2.65 billion in 2022 to USD 4.9 billion by 2030, growing at a CAGR of 10.8% in the forecast period (2023-2030).

Allergy Immunotherapy Market Size, Share, Growth Analysis, By Treatment(Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT) (Tablets, Drops)), By Allergy(Allergic rhinitis, Allergic asthma, Others), By Distribution Channel(Offline (Hospital Pharmacy, Retail Pharmacy), Online), By Region - Industry Forecast 2024-2031

Report ID: SQSG35I2019 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 92 | Figures: 76

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Allergy Immunotherapy Market size was valued at USD 2.07 billion in 2022 and is poised to grow from USD 2.26 billion in 2023 to USD 4.50 billion by 2031, growing at a CAGR of 9% in the forecast period (2024-2031).

Key players in the market are focusing on creating therapies for food allergies in particular by taking advantage of the rising prevalence of allergies. They are funding R&D initiatives in an effort to accomplish the same. To keep ahead of the curve, a number of firms are concentrating on creating new goods, including tablets and injections. 'ALK Abello', 'Allergy Therapeutics', 'Anergis SA', 'ASIT biotech', 'DBV Technologies', 'HAL Allergy Group', 'Hymenoptera Immunotherapy Group', 'Immunomic Therapeutics, Inc.', 'Laboratorios LETI', 'Merck KGaA', 'Novartis International AG', 'Stallergenes Greer plc', 'Tunitas Therapeutics, Inc.', 'VentiRx Pharmaceuticals', 'Biomay AG', 'Genentech, Inc.', 'GlaxoSmithKline plc', 'Meda AB', 'Pfizer Inc.', 'Regeneron Pharmaceuticals, Inc.'

Increasing allergy cases to support the growth of allergy immunotherapy market: The rising prevalence of diverse allergies and the introduction of innovative sublingual immunotherapies in developing nations are the main drivers of market expansion for allergy immunotherapy. In the United States, allergies are the sixth most common chronic illness, costing more than USD 18 billion annually, and affect more than 50 million people, according to data from the American College of Allergy, Asthma & Immunology. Food allergies are becoming more common among both children and adults worldwide. Therefore, it is anticipated that the demand for innovative immunotherapies will be aided by the growing burden of allergic illnesses.

Technology advancements in high-resolution analysis of rare cells in local tissues have led to the emergence of precise and reliable biomarkers for allergy immunotherapy monitoring.

Based on the region, the European region currently dominates the global allergy immunotherapy market with respect to market share, and it is projected that it will continue to hold a sizable share of the market throughout the forecast period. Due to high awareness, increased financing for research and grants, medical reimbursement rules, the rise in the population with allergies, and other factors, Europe was reported to hold the largest share of the worldwide allergy immunotherapy market. According to the European Academy of Allergy and Clinical Immunology (EAACI), 20 percent of the population in the area currently experiences chronic food allergies, which affect over 150 million people.

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