NEW YORK, Oct. 13, 2020 /PRNewswire/ -- Allergy shots, also known as allergy immunotherapies, including subcutaneous immunotherapy, sublingual immunotherapy, and oral therapies, is a long-term treatment that helps reduce allergic reactions. The most common type of allergy includes allergic rhinitis/hay fever, which accounts for 43% of the cases.
According to a latest report published by the PMR, the global allergy shots market is projected to be valued at US$ 1.5 Bn in 2020, and is expected to expand at a CAGR of around 6% during the forecast period (2020-2030).
Key Takeaways from Allergy Shots Market Study
- Injections is the leading segment by product in the global allergy shots market. The sublingual immunotherapy (SLIT) segment has been gaining more traction in recent years, and is expected to expand by 6.5% during the forecast period.
- Europe is the leading market for allergy shots, followed by the U.S.
- The South Asian region, including India and ASEAN countries, is the fastest-growing allergy shots market, due to improving medical infrastructure.
- ALK Abello is the leading player in the global allergy shots market. The company invests most of its revenue in R&D, and thus, holds a strong pipeline, especially in the SLIT segment.
- 100+ health systems are partnering with retail chains, providing physician oversights and increased patient traffic to retail clinics, and extending health system networks to new patient populations.
- The COVID-19 pandemic has led to postponement of non-essential treatment in hospitals and clinics, which will impede market growth in the short term.
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"Increasing corporate agreements and strong product pipeline will boost the global allergy shots market," says a PMR analyst.
Allergy Shots Market Happenings
The allergy shots market is witnessing continuous innovation in terms of specific treatments, recombinant immunotherapies, and others. Manufacturers in the allergy shots industry are extending their portfolios, customer base, and geographic reach through M&A and collaborations/partnerships. This help players enjoy mutual growth and maintain a competitive edge, and fulfil customer needs. For instance, in August 2020, Nestle Health Science division announced the acquisition of the food allergy portfolio of Aimmune Therapeutics by the end of 2020.
Additionally, strong focus and continuous investments in R&D by key players for the development and commercialization of allergy shots are expected to rise, leading to more advanced and specific treatment options. As of now, more than 40 products are in clinical trials, and are expected to be commercializes in the next 2-3 years.
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Hospitals - Leading Distribution Channel for Allergy Shots
Institutional distribution channels such as government hospitals, semi-government hospitals, and private hospitals hold the maximum share in the global allergy shots market. Allergy treatments such as subcutaneous allergy immunotherapies and emergency medicines are being administered at hospital facilities. Along with that, most patients look for reimbursements, as allergy treatments are particularly costly. Allergy shots are currently reimbursed in 56% European countries, including major countries such as Germany, the U.K., France, Italy, Spain, and Russia.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the allergy shots market in its latest study, presenting historical demand assessment of 2015-2019 and projections for 2020-2030, on the basis of product (SLIT tablets, oral, injections, and others), immunotherapy type (SLIT, SCIT, specific immunotherapy, and others), indication (allergic rhinitis, allergic asthma, food allergy, atopic dermatitis, and others), allergan (pollens, HDM, mould, animal dander, bee venom, cockroaches/insects, and others), and distribution channel (institutional sales and retail sales), across seven key regions.
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