north america allergy immunotherapies Market

The North America allergy immunotherapies market was valued at US$ 697.53 million in 2019 and is projected to reach US$ 1,634.17 million by 2027; it is expected to grow at a CAGR of 11.3 % during the forecast period.

This can be attributed to the increasing developments in the healthcare sector. The rising initiatives by various research institutes and organizations for improving medical facilities and services are further leading to the market growth.

Allergen immunotherapy is a medical treatment useful for environmental allergies, insect bite allergies, and asthma. According to the American Academy of Allergy, Asthma, and Immunology (AAAAI), 7.8% of people aged 18 years and above in the US have allergic rhinitis. Further, 30% of the global population is affected by hay fever annually. Positive results of various immunotherapies that are in clinical trials encourage the development activities of allergy immunotherapy-based drugs. Thus, growing prevalence of different allergies and increasing drug development activities boost the North America allergy immunotherapies market growth. The market players are also adopting business expansion, collaboration, and new product development strategies to increase their market footprint.

The COVID-19 pandemic has harmed the North America allergy immunotherapies market size, with small and medium-scale companies struggling to sustain their businesses in the near future. Industry leaders are now focusing on creating new business practices to deal with such crises.

The North America allergy immunotherapies market, based on Treatment, is segmented into subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT). In 2019, the SCIT segment held a larger share of the market. However, the SLIT segment is expected to grow at a higher CAGR during the forecast period. The North America allergy immunotherapies market, based on allergy type, is segmented into allergic rhinitis, asthma, food allergy, venom allergy, and others. The allergic rhinitis segment held the greatest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during forecast period.

The North America allergy immunotherapies market, based on distribution channel, is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. In 2019, the hospital pharmacy settings segment held the largest share of the market, and market for the same segment is expected to grow at the fastest CAGR during the forecast period.

A few of the major primary and secondary sources associated with this report on the North America allergy immunotherapies market are the American Academy of Allergy, Asthma & Immunology, Celsion Corporation, the US Food and Drug Administration (FDA), and World Allergy Organization (WAO).