New York, May 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Allergy Immunotherapy Global Market Report 2023" - https://www.reportlinker.com/p06457533/?utm_source=GNW
, Jubilant HollisterStier LLC, Allergo Pharma, Biomay AG, Anergis SA, HollisterStier Allergy, Mylan N.V., Adamis Pharmaceuticals Corporation, Desentum Oy, and WOLW Pharma.
The global allergy immunotherapy market is expected to grow from $2.34 billion in 2022 to $2.59 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The allergy immunotherapy market is expected to grow to $3.85 billion in 2027 at a CAGR of 10.4%.
The allergy immunotherapy market includes revenues earned by entities by providing monoclonal antibodies and immune checkpoint inhibitors therapy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Allergy immunotherapy refers to a type of therapy used to avoid allergic reactions to things like house dust mites, grass pollen, and bee venom. Immunotherapy includes giving the patient increasingly higher dosages of the chemical or allergen they are allergic to.
Europe was the largest region in the allergy immunotherapy market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the allergy immunotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main allergy types in allergy immunotherapy are allergic rhinitis, asthma, food allergy, venom allergy, and others.Allergic rhinitis refers to a diagnosis connected to a collection of symptoms that affect the nose.
The various treatments involved are immunotherapy (SCIT), sublingual immunotherapy and specific immunotherapy (SIT). The various channels include hospital pharmacy, retail pharmacy and online pharmacy.
The rising prevalence of allergic disorders is expected to propel the growth of the allergy immunotherapy market going forward.Allergic disorders refer to excessive immune responses to specific antigens.
Immune responses that are inappropriately directed against intrinsic bodily parts (self) result in autoimmune diseases.Allergy immunotherapy is available to atopic people who have allergy disorders like IgE-mediated allergic rhinitis and allergic asthma brought on by inhaled allergens, including pollens and house dust mites (HDMs).
For instance, according to the Centers for Disease Control and Prevention (CDC), a US-based public health agency, in 2021, in the USA, nearly one-third of adults aged 18 and up suffered from a seasonal allergy, skin condition, or food allergy. Overall, seasonal allergy was the most common of the three allergies, with approximately one-quarter (25.7%) of adults diagnosed, followed by eczema (7.3%) and food allergy (6.2%). Women were more likely than men to be allergic to all three allergens. Also, the prevalence of seasonal allergy diagnoses was 24.7% in adults aged 18–44, 27.9% in adults aged 45–64, 26.4% in adults aged 65–74, and 21.7% in adults aged 75 and up. Therefore, the rising prevalence of allergic disorders is driving the growth of the allergy immunotherapy market.
Product innovations have emerged as the key trend gaining popularity in the allergy immunotherapy market.Major companies operating in the allergy immunotherapy market are developing innovative products to strengthen their position in the market.
For instance, in December 2020, the European Commission, an executive body of the European Union, approved Aimmune’s PALFORZIA as the first-ever treatment for peanut allergy in the European Union.Aimmune Therapeutics is a US-based biopharmaceutical company that specializes in the development of product candidates for the treatment of peanut and other food allergies.
PALFORZIA is a sophisticated biologic drug that is administered using an organized dosing regimen based on a couple of centuries of oral immunotherapy (OIT) research.OIT involves ingesting specific allergenic proteins in very small amounts at first, followed by progressively increasing amounts, which can result in the ability to reduce allergies and the allergic response over time.
This oral immunotherapy is indicated in patients aged 4–17 years with a confirmed peanut allergy diagnosis.
In October 2020, Nestle, a Switzerland-based nutrition, health, and wellness company, acquired Aimmune Therapeutics for an undisclosed amount.Through this acquisition, Nestle will continue its constant pursuit of innovative, science-based nutritional solutions to support healthier lives.
Aimmune Therapeutics is a US-based biopharmaceutical company that is developing and bringing new treatments to people with potentially life-threatening food allergies, as well as allergy immunotherapy.
The countries covered in the allergy immunotherapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The allergy immunotherapy market research report is one of a series of new reports that provides allergy immunotherapy market statistics, including the allergy immunotherapy industry global market size, regional shares, competitors with allergy immunotherapy market share, detailed allergy immunotherapy market segments, market trends, and opportunities, and any further data you may need to thrive in the allergy immunotherapy industry. This allergy immunotherapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06457533/?utm_source=GNW
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