Allergy Immunotherapy Market Size

Allergy Immunotherapy Market Size

Allergy Immunotherapy Market size was valued at USD 1.9 billion in 2023 and is set to register growth at an 8.5% CAGR between 2024 and 2032. The growth of the market is primarily driven by the increasing number of people suffering from allergies. For instance, according to the American Academy of Allergy, Asthma, & Immunology, nearly 10% to 30% of people globally suffer from allergic rhinitis. Such a high burden of allergic conditions indicates the need for precise treatment, such as allergy immunotherapy.

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Another significant growth driver is the rising healthcare expenditure and consumer awareness regarding the availability of advanced treatments. Prescription medicine such as Odactra has been developed and approved by the U.S. FDA. Odactra is more targeted in comparison to other available medicines and can also be taken at home at the patient’s convenience, making it accessible to a broader patient population. Additionally, researchers are currently focusing on developing more advanced treatments that can target multiple allergens simultaneously, thus elevating treatment efficacy and scope for patients. Such developments in the research field will positively impact the allergy immunotherapy market over the forecast timeline.

Allergy immunotherapy, often referred to as desensitization or hypo-sensitization, is a medical treatment designed to alleviate the symptoms of allergic conditions by gradually increasing a patient's tolerance to specific allergens. This treatment works by exposing the patient to gradually increasing doses of the allergen, either through subcutaneous immunotherapy (SCIT) injections or sublingual tablets or drops (SLIT).