Allergy Shots Market
Global Market Study on Allergy Shots: Increasing Prevalence of Allergic Rhinitis Supporting Market Growth
Allergy Shots Market Segmented By SLIT Tablets, Oral, Injections Product with Sublingual Immunotherapy, Subcutaneous Immunotherapy with Allergic Rhinitis, Allergic Asthma, Food Allergy, Atopic Dermatitis indication
Globally, the prevalence of various types of allergies is on the rise due to increased levels of pollution, and changing lifestyles and dietary habits, which is leading to the growth of the global allergy shots market.
The most common type of allergy is allergic rhinitis, often known as hay fever, caused due to particles in the air such as dust mites, pollen, etc. Globally, the prevalence of allergic rhinitis is registered at around 35%. Along with that, food allergy is also highly prevalent and affects more than 10% of adult population, globally, each year.
Growing cases of allergic disorders is increasing the need for more specific and convenient treatments, which, in turn, is driving the expansion of the allergy shots market size.
Find Out More about the Report Coverage
- ALK Abello
- Stallergenes Greer
- Allergy Therapeutics
- Aimmune Therapeutics
- Arrayit Corporation
- Biomay AG
- HAL Allergy Group
- DBV Technologies
Allergy Shots Market Trends
Rising Demand for Sublingual Tablets (SLIT) Supporting Market Growth: The treatment for an allergy is lengthy and can take 3-5 years for a complete course. Patients undergoing treatment usually discontinue the process midway due to prolonged treatment time.
However, development of SLIT has made treatment easy and convenient. The use of SLIT potentially improves the compliance of allergen shots and makes allergy treatment more accessible and well-tolerated.
Leading companies in the allergy shots market are focusing on development and launch of SLIT drugs. SLIT has been shown to be an effective treatment for airway allergies, atopic dermatitis, and food allergy, and recent studies suggest the use of SLIT as the first choice for allergy treatment as compared to other medications and SCIT.
Detailed analysis of some of the most popular SLIT drugs, including Odactra, Grastek, Ragwitek, Oralair, and Actair, has been provided PMR’s allergy shots market report.
Increasing Focus on Developing Oral Immunotherapy Products Presents Lucrative Opportunities for Allergy Shots Market: Oral immunotherapies (OITs) are primarily focused on hay fever and food allergy. Globally, growing prevalence of food allergy and hay fever/allergic rhinitis is gaining the attraction of manufacturers to develop specific treatments for them.
OITs can potentially decrease the risk for severe allergic reactions due to accidental or unintentional allergen exposure. As of now, Palforzia by Aimmune Therapeutics is the only oral immunotherapy product approved for food allergy. This can offer new growth opportunities for the allergy shots market.
Risk of Adverse Effects of SCIT & SLIT Can Hamper Market Growth: The allergy shots market can experience a decline due to the adverse effects associated with allergy shots and tablets. For instance, more than 1.5% of patients administered Oralair experience adverse effects such as respiratory, gastrointestinal, or skin-related disorders.
Also, rarely, a serious systemic reaction called anaphylaxis can develop. These side effects associated with the treatment may hinder the growth of the allergy shots market.
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COVID-19 Impact on Allergy Shots Market
The global outbreak of COVID-19 has led to lockdowns, shutdowns, and trade restrictions. A majority of developed countries have postponed non-essential medical procedures, as focus is clearly on COVID-19 patients. The impact on SLIT has been minimum, as these tablets and drops are self-administered at home.
However, new patient initiation has been limited. On the other hand, subcutaneous therapies (SCIT) have been most impacted, since they are typically administered at clinics. These factors are expected to impede the growth of the allergy shots market in the near term.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
An extensive analysis of the allergy shots market has brought our analysts to a conclusion that, the market is growing at a significant rate. Currently, sublingual immunotherapy (SLIT) is the target segment for major healthcare facilities, and hence, this segment is anticipated to gain more traction in the allergy shots market in term of market growth. Europe and North America collectively hold more than 65% of allergy shots market revenue share, due to the presence of key manufacturers in the region. Emerging countries such as Brazil, China, and India are expected to offer lucrative opportunities for players in the allergy shots market. The MEA region will also witness augmented growth, owing to the rising prevalence of allergies and entry of leading market players in the region.
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Key Segments of Allergy Shots Market
PMR’s study on the allergy shots market offers information divided into six important segments — product, immunotherapy, indication, allergen, distribution channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in PMR’s Allergy Shots Market Report
- Which regions will continue to remain the most profitable regional markets for allergy shots market players?
- Which factors will induce a change in the demand for allergy shots during the assessment period?
- How will changing trends impact the allergy shots market?
- How can market players capture the low-hanging opportunities in the allergy shots market in developed regions?
- What are the winning strategies of stakeholders in the allergy shots market to upscale their position in this landscape?
- What are the restraints that investors need to be aware of and might tackle while investing in the allergy shots market?
- What are the developmental trends in allergy shots sectors that will impact the market?
- How can businesses in the allergy shots market avail the growth opportunities in developed and emerging sectors?