Allergy immunotherapies: Key market research findings
- Presence of high unmet medical needs spurs growth in the market
- Europe dominates the market geographically
- Key vendors – ALK-Abello, Stallergenes, Merck Group, and Allergy Therapeutics
Technavio’s market research analysts predict the global allergy immunotherapies market to grow at a CAGR of more than 7% between 2016 and 2020. The demand for allergy immunotherapies is spurred by the presence of high unmet medical needs. There is a high requirement for drugs that reduce inflammation and irreversible airway remodeling in the market. Furthermore, allergic rhinitis and allergic asthma are chronic diseases that cannot be cured, and most patients needed lifelong treatment and lifestyle adjustments. This results in an unmet medical need for novel targeted drugs that treat such conditions. During 2015, Europe dominated the global allergy immunotherapies market by accounting for around 75% of the overall market share. The increasing prevalence of allergies coupled with the launch of programs that provide access to medications that are not yet approved is expected to contribute to the growth in the allergy immunotherapies market in Europe during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the allergy immunotherapy segments based on the product type.
“Of late, sublingual immunotherapy tablets (SLITT) has been gaining a lot of traction in the market. sublingual immunotherapy (SLIT) tablets are now commercially available for ragweed and grass allergies and are confirmed to have a superior safety and efficacy profile compared to SCIT and SLIT drops. Due to its improved safety and efficacy profile, the global SLITT market is expected to witness high growth in the coming years,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The subcutaneous immunotherapy (SCIT) segment dominated the global allergy immunotherapy market in 2015 with a market share of around 54%. SCIT is a unique immunotherapy for respiratory allergic diseases such as allergic asthma and allergic rhinitis. It offers symptomatic relief through alteration of allergies by targeting the underlying mechanism. However, the treatment paradigm is expected to shift to SLITT by the end of the forecast period owing to its ease of use and launch of drugs with novel mechanisms.
The key vendors in the market comprise of ALK-Abello, Stallergenes, Merck Group, and Allergy Therapeutics. The global allergy immunotherapies market is highly competitive and is characterized by the presence of key vendors, such as ALK-Abello, Stallergenes Greer, Merck Group, and Allergy Therapeutics. The companies that manufacture and market high safety and efficacy drugs for the treatment of allergic rhinitis and asthma are expected to gain a competitive advantage over other companies. Smaller companies such as Allergy Therapeutics and Circassia are looking to leverage from the sales of short-course SCIT products to differentiate themselves from the dominant vendors.
A more detailed analysis is available in the Technavio report, Global Allergy Immunotherapies Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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