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Allergy Immunotherapy Market Size, Share, 2019 Global Growth, Revenue Status, Trends and Industry Forecast to 2023
Allergy Immunotherapy Market is predicted to touch USD 4, 324.7 million at a 10.85% CAGR between 2018-2023, reveals the latest Market Research Future (MRFR) report
Allergy Immunotherapy Market is predicted to touch USD 4, 324.7 million at a 10.85% CAGR between 2018-2023, reveals the latest Market Research Future (MRFR) report. Allergen immunotherapy or allergy shots, simply put, is a long-term treatment that helps in decreasing symptoms for many with stinging insect allergy, eye allergy, allergic asthma, and allergic rhinitis. Its effectiveness rests on the dosage of the allergen and the duration of the treatment program. This treatment is generally recommended for those suffering from severe allergy symptoms, not responding to usual medications. Allergy immunotherapy is also effective for those having side effects from medications, those for whom allergies have become life-threatening, and people finding their lives disrupted by allergies. Moreover, it also helps in reducing the severity of reactions resulting from insect stings.
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Various factors are propelling the allergy immunotherapy market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include increasing clinical trials, new approvals, and R&D activities, growing number of allergic patients, creation of new products for curing allergies, increased flow of capital, growing awareness regarding the advantages of allergy immunotherapy, and growing incidence of allergies such as food allergy, asthma, and allergy rhinitis. Moreover, technological advancements and the growing number of companies collaborating with independent research centers and hospitals for developing innovative and new immunotherapy technologies are also adding to the growth of the market.
On the flip side, limited applications of allergy immunotherapy and restricted healthcare spending are factors that may deter the allergy immunotherapy market growth over the forecast period.
Major players profiled in the allergy immunotherapy market report include HAL Allergy Group (Netherlands), Stallergenes Greer (UK), ALK Abello A/S (Denmark), DBV Technologies (France), Circassia (UK), Merck KGaA (Allergopharma) (Germany), and Allergy Therapeutics (UK), among others.
Segments for Global Allergy Immunotherapy Market
The Market Research Future report provides an all-inclusive segmental analysis of the allergy immunotherapy market on the basis of treatment and allergy type.
Based on allergy type, the allergy immunotherapy market is segmented into peanut allergy, allergic rhinitis, allergic asthma, cat allergy, and other allergies. Of these, the allergic rhinitis segment will have the largest share in the market during the forecast period chiefly owing to its growing prevalence among children and adults alike.
Based on treatment, the allergy immunotherapy market is segmented into specific immunotherapy (SIT), subcutaneous immunotherapy (SCIT), and sublingual immunotherapy. The sublingual immunotherapy segment is again segmented into sublingual immunotherapy drops and sublingual immunotherapy tablets. Of these, the subcutaneous immunotherapy segment will dominate the market during the forecast period. Factors pushing the growth of this segment include its effectiveness in treating various types of allergies, such as asthma. Moreover, this is a treatment option that alters the immune system for preventing the development of other types of allergies.
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The reports of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.