allergy immunotherapies Market

The Allergy Immunotherapies market was valued at US$ million 1,819.18 in 2019 and is projected to reach US$ 4,185.89 million by 2027; it is expected to grow at a CAGR of 11.1% from 2020 to 2027.

The growth of the allergy immunotherapies market is mainly attributed to factors such as growing prevalence of allergic disorders and technological advancements in sublingual dosage formulations. However, the market is likely to get impacted by the drawbacks associated with the use of allergy immunotherapy and regulatory variations across regions during the forecast period.

Allergy immunotherapy, also called desensitization or hypo-sensitization, is a medical treatment focused on several types of allergies. There is a growth in the prevalence of allergies, and conventional treatment interventions, such as pharmacotherapy, have often been found incompetent. Consequently, allergy immunotherapy is growing popularity for curing several types of allergies by increasing immunological tolerance and changing the course of the disease.

Sublingual immunotherapy (SLIT) is a substitute treatment for allergies without injections. Only the US Food and Drug Administration (FDA)-approved tablets are used for sublingual therapy. However, allergy drops are not FDA approved and are off-label in the US. General sublingual dosage form consists of tablets, film, mini pills, etc., and the advanced formulations include micro particulate spray and atomized liquid. The advanced formulation has a better penetrating ability than the conventional sublingual dosage forms. The capillary network absorbs the drug, forwarding them directly into the bloodstream without entering the gastrointestinal system. The sublingual spray is a modern pharmaceutical administration technology in which the drug can be atomized under the tongue. Atomization facilitates drug diffusion into the capillary network and often acts faster than the other oral administrations. The sublingual spray offers better bioavailability, and so there may be a proven improvement in the onset of therapeutic activity. A range of therapeutically diverse compounds has been formulated as oral sprays by NovaDel using NovaMist technology. NovaMist devices are either breath-actuated pumps or aerosol spray systems containing a drug in liquid formulation and can be supplied in multidose or unidose containers. Thus, a new technology-oriented formulation with multiple benefits drives the growth of the market during the forecast period.
Based on treatment, the market is segmented into Subcutaneous Immunotherapy (SCIT) and Sublingual Immunotherapy (SLIT). In 2019, the Subcutaneous Immunotherapy (SCIT) segment held the largest share of the market, by treatment. However, the Sublingual Immunotherapy (SLIT) segment is expected to grow at the fastest rate during the forecast period.
Based on allergy type, the global Allergy Immunotherapies market is segmented into Allergic Rhinitis, Asthma, Food Allergy, Venom Allergy, and Others. The Allergic Rhinitis segment held the highest share of the Allergy immunotherapies market in 2019, by Allergy Type. Moreover, the same segment is anticipated to witness growth at a significant rate during the forecast period, 2020 to 2027.
Based on distribution channel, the global Allergy Immunotherapies market is segmented into hospital pharmacy, retail pharmacy and online pharmacy. In 2019, the hospital pharmacy settings segment held the largest share of the market, by Allergy Type. Moreover, the same pharmacy segment is expected to grow at the fastest rate during the forecast period.
The World Health Organization (WHO), Food and Drug Administration (FDA), World Allergy Organization, American Academy of Allergy, Asthma & Immunology, and American College of Allergy, are some of the major primary and secondary sources referred for preparing this report.