The global allergy immunotherapy market is expected to expected to experience bountiful growth opportunities over the coming years. According to a report by Transparency Market Research (TMR), rising prevalence of and chronic nature of allergies is expected to boost the market. The report, titled, “Allergy Immunotherapy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” offers an insight into various projections of the allergy immunotherapy market, with focus on its segments and sub segments, the challenges and opportunities that the industry is expected to face along with the latest market trends.
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Allergy Immunotherapy (AIT), also known as desensitization, is the only treatment therapy which targets the cause of allergy. According to the World Allergy Organization (WAO), approximately 10%-40% of the global population is suffering from allergy in 2013.
Increasing awareness of the treatment, technological advancement, rapid adoption and increasing demand from emerging economies are driving the growth for the market. Some other factors like rising prevalence of various chronic diseases like allergy, asthma, diabetes and hypertension are driving the market growth. Growing research & development, clinical trials, and new approvals are leading the market growth.
North America accounted for the largest share of the global market in terms of revenue in 2016 and the trend is anticipated to continue during the forecast period. Strong growth in the region can be attributed to increase in well-established health care infrastructure, high awareness among people, and rise in prevalence of allergic reactions.
Prominent names in the global allergy immunotherapy market include Verona Pharma, Biomay AG, HAL Allergy Group, Stallergenes Greer, and Circassia Pharmaceuticals, among others