1 / 8

Global Allergy & Immunology Market- Industry Trends & Forecast Report 2027

The global allergy & immunology market was worth USD 2.1 billion in 2020 and is forecast to reach USD 4.5 billion by 2027, growing at a CAGR of 11.2% in the forecast period

25428
Download Presentation

Global Allergy & Immunology Market- Industry Trends & Forecast Report 2027

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period Global Allergy & Immunology Market- Industry Trends & Forecast Report 2027 View report Sample report Press release Summary Global Allergy and Immunology Market, By Treatment Type (Subcutaneous Immunotherapy (SCIT), Sublingual Immunotherapy (SLIT)) By Allergy Type (Allergic Rhinitis, Allergic Asthma, Other Allergies), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy),By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027 A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global allergy and immunology market was worth USD 2.1 billion in 2020. The market is estimated to grow at a CAGR of 11.2%, earning revenue of around USD 4.5 billion by the end of 2027. The global allergy and immunology market is growing at a rapid rate due to the increasing prevalence of allergies, such as food allergies, pollen allergies, pet allergies, etc., as well as growing research activities. The healthcare system is burdened with complex allergy problems, which drives R&D for the development of new medicines. However, the lack of awareness regarding allergy and immunology may act as a barrier to market growth. Report Overview The global allergy & immunology market is gaining traction because of factors such as the growing prevalence of allergic disorders, and increasing air pollution.

  2. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period Additionally, extensive research and development activities for effective control and treatment of allergies is also favoring the market growth. Global Allergy & Immunology Market- Industry Trends & Forecast Report 2027 The global allergy & immunology market was worth USD 2.1 billion in 2020 and is forecast to reach USD 4.5 billion by 2027, growing at a CAGR of 11.2% in the forecast period. The growth of the global allergy & immunology market is attributable to factors such as the growing prevalence of allergic disorders, increasing air pollution, and the emergence of various diagnosis procedures for allergies. Furthermore, the increasing prevalence of allergies, especially in western countries, is boosting research and development activities for effective control and treatment, driving the growth of the allergy & immunology market. Global Allergy & Immunology Market- Overview An allergy occurs when the body reacts to a substance in the environment that is harmless to others. It is a condition in which the body's immune system responds to a harmless foreign substance, also known as allergens. Many substances, such as dust, mold, pollen, etc., can cause allergic reactions in people, including frequent wheezing, itchiness, runny noses, itchy eyes, etc. Immunology is the study of the immune system and how it protects the body against infectious diseases. Global Allergy & Immunology Market Forecast and Trends Growth Drivers Increasing Prevalence of Food Allergies in Developed Countries Food allergies are becoming more common over the world, particularly in Western countries. According to estimates, food allergies affect roughly 7% of children in the United Kingdom, 9% of people in Australia, and 2% of adults in Europe. Allergies are usually not fatal. However, food allergies raise dietary restrictions, which can induce worry and anxiety in people. As a result, the demand for allergy treatments is increasing at a high rate, propelling the growth of the global market. Expanding Research and Development Activities Regarding Allergy and Immunology The research institutes and pharmaceutics companies are aggressively engaging in research and development activities towards finding the root causes of allergies, symptom patterns and developing their treatment. Such developments are expected to boost the demand for allergy and immunotherapy in the upcoming years. For example, a new study report published in Pediatric Allergy and Immunology investigates patterns of clinical symptoms and comorbidities in children with allergic rhinitis. Such research aids in optimizing treatments by

  3. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period providing a deeper understanding of allergies and their patterns in distinct demographics. Restraints Lack of Awareness Towards Allergy and Immunotherapy Allergies often result from immune responses to certain substances that do not cause any life-changing symptoms. As a result, most allergic people do not seek medical treatment for allergies. The lack of awareness among people regarding allergy treatment and immunotherapy is one of the major restraining factors for the global allergy & immunology market. Moreover, the symptoms of allergies can easily be confused with those of other problems, such as common cold, sore throat, etc., hindering the market growth. Impact of COVID-19 on Global Allergy & Immunology Market The COVID-19 pandemic had little impact on the global allergy & immunology market. The COVID-19 lockdown affected several industries, completely disrupting their production and supply channels, resulting in losses. Allergy& immunology market belongs to the pharmaceutical sector, which was under essential services throughout the pandemic. Thus, despite the lockdown, the industry was able to function at full capacity, which kept the market going. Furthermore, research and development activities flourished significantly and pharmaceutical companies strengthened their online distribution channel, which significantly proliferated the growth of the global allergy & immunology market despite the pandemic. Global Allergy & Immunology Market - By Treatment Type Based on treatment types, the global allergy & immunology market is segmented into subcutaneous immunotherapy(SCIT) and sublingual immunotherapy (SLIT). In terms of revenue, the subcutaneous immunotherapy (SCIT) segment dominates the market since it is highly effective for polyallergic patients and also provides lasting protection against asthma. SCIT also can prevent the onset of allergies and asthma. That is why the SCIT segment is growing at a high rate. Furthermore ,the growth of the SCIT segment is also being influenced by increasing research activities. Global Allergy & Immunology Market - By Allergy Type Based on allergy types, the global allergy & immunology market is segmented into allergic rhinitis, allergic asthma, and other allergies. Among these, the allergic rhinitis segment holds the largest market share. Allergic rhinitis is often characterized by symptoms such as frequent sneezing or running nose. According to an estimate, around 10 to 30% of US adults and about 40% of children are affected by allergic rhinitis. The high demographic is a significant force behind the rapid growth of the segment.

  4. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period Global Allergy & Immunology Market - Regional Insights Geographically, the global allergy & immunology market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Europe accounts for the largest share in the market, followed by North America. Researchers claim that allergies are more prevalent in developed countries due to western lifestyles. Because European countries such as Germany, Italy, and Norway are prone to allergies, Europe dominates the global allergy & immunology market. The US also has a strong prevalence of varying degrees of food allergies, which is why North America also represents a substantial share of the market. Competitive Landscape The leading players in the global allergy & immunology market are ALK-Abello A/S, Teva Pharmaceutical Industries, AbbVie Inc., Stallergenes Greer PLC, Allergy Therapeutics, Sanofi SA, Anacor Pharmaceuticals Inc., Novartis International AG, AstraZeneca, Merck KGaA, F. Hoffmann-La Roche Ltd, Leti Pharma, Galderma SA, Johnson & Johnson, GlaxoSmithKline PLC, Circassia, DESENTUM OY, HAL Allergy B.V., Mylan N.V., and other prominent players. The global allergy & immunology market is highly consolidated with the presence of several global as well as regional industry players. Market participants have been continually investing in R&D activities to develop treatments that alleviate various types of allergy symptoms. Furthermore, the adoption of competitive strategies like partnerships, mergers, collaborations, acquisitions is also very prominent in this market. Recent Developments In June 2021, Immune ID, Inc., a precision immunology company, announced to have raised USD 50 million in Series A financing, which is aimed towards advancements in the treatment of autoimmune diseases, severe allergies, infectious diseases, and cancer.  In June 2021, Bayer, a German Pharmaceutics company, announced that it received US FDA approval for Astepro Allergy as an over-the-counter (OTC) product for allergy relief. 

  5. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period Scope of the Report Attributes Details Historical data – 2017-2020 Years Considered Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Billion U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia Market Coverage Product Service/Segmentation By Treatment Type, By Allergy Type, By Distribution Channel, By Region ALK-Abello Industries, AbbVie Inc., Stallergenes Greer PLC, Allergy Therapeutics, Sanofi SA, Anacor Pharmaceuticals Inc., Novartis International AG, AstraZeneca, Merck KGaA, F. Hoffmann-La Roche Ltd, Leti Pharma, Galderma SA, Johnson & Johnson, GlaxoSmithKline PLC, Circassia, DESENTUM OY, HAL Allergy B.V., Mylan N.V., and other prominent players. A/S, Teva Pharmaceutical Key Players

  6. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period By Treatment Type Subcutaneous Immunotherapy (SCIT) Sublingual Immunotherapy (SLIT) Tablets Drops     By Allergy Type Allergic Rhinitis Allergic Asthma Other Allergies    By Distribution Channel Hospital Pharmacy Retail Pharmacy Online Pharmacy    By Region North America Europe The Asia-Pacific Latin America The Middle East & Africa     

  7. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade- off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com

  8. Global Allergy and Immunology Market Booming: Growing at a CAGR of 11.2% in the Forecast Period

More Related