The global allergy immunotherapy market was valued at US$ 1.37 Bn in 2016 and is projected to register a cumulative annual growth rate (CAGR) of 10.7% from 2017 to 2025, according to a new report titled, “Allergy Immunotherapy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”, published by Transparency Market Research (TMR) in April 2018. The report states that high prevalence of allergy diseases across the globe, rise in awareness about allergy treatment, increase in funding for clinical research and grants, launch of new therapies, etc. are expected to spur the growth of the global allergy immunotherapy market during the forecast period, i.e., from 2017 to 2025.
North America and Europe are projected to dominate the global allergy immunotherapy market in the near future, primarily due to the large base of patients suffering from allergy diseases, high clinical R&D budget to address the unmet needs of the market, launch of new therapies, and increase in awareness regarding allergy treatment in these regions. Europe is estimated to dominate the global allergy immunotherapy market by the end of 2025, which can be ascribed to the high prevalence and rise in incidence rate of allergy diseases in the developed countries in the region such as Germany, France, the U.K., and Italy, promising product pipeline, and initiatives undertaken by the government and non-profit organizations to promote awareness regarding allergy diseases. The allergy immunotherapy market in Europe is expected to register a CAGR of more than 11.5% from 2017 to 2025.
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High prevalence and rise in incidence rate of allergy disorders to fuel the global market
Allergy immunotherapy, also referred to as desensitization or hypo-sensitization, is a medical treatment targeted against different types of allergies. There is an increase in the prevalence of allergy, and pharmacotherapy, by itself, is insufficient to control the rate of occurrence. Allergy immunotherapeutic treatment boosts immunological tolerance as well as alters the course of the disease.