Allergy Immunotherapy Market to Record an Exponential CAGR by 2024
The global market for allergy immunotherapy was initially valued at US$1.37 bn back in the year 2016. According to the research report published by Transparency Market Research, the global allergy immunotherapy market will exhibit an impressive CAGR of 10.7% for the projection period of 2017 to 2025. With this massive growth rate, market is expected to cross the valuation US$3.33 billion by the end of 2025. According to the research report, the growing prevalence of allergy diseases across the world and increasing awareness about the new treatment methods of allergies are some of the key reasons behind the growth of the global allergy immunotherapy market.
Increased Funding for R&D Activities to Fuel Market Growth
There are some other important factors that are also helping to push the development of the global allergy immunotherapy market. One of the key driving factor for the market growth has been the recent rise in investments and funding to fuel clinical researches and other activities of research and development. In addition to this, recent launch of new therapies is also expected to help the development and wider spread of global allergy immunotherapy market.
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Europe to Emerge as Leading Regional Market Segment
In terms of regional segment, there are five key regions that divide the global allergy immunotherapy market. These regions are North America, Asia Pacific, Middle East and Africa, Latin America, and Europe. Among these, the regional markets of Europe and North America are expected to contribute significantly for the overall development of the global allergy immunotherapy market. This development of these regional segment can be primarily attributed to the increasing user or patient base in the region that are suffering from different kinds of allergies, huge budgets for clinical research and development activities, introduction of new and innovative therapies, and growing awareness about treatment of allergy disorders. In addition to this, governmental and non-governmental awareness campaigns raised in the countries of these regions is also expected to push the development of the allergy immunotherapy market in Europe and North America. Europe in particular, is expected to exhibit a CAGR of over 11.5% during this given forecast period of 2017 to 2025. Such factors are thus helping to drive the overall growth of the global allergy immunotherapy market.
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The competitive landscape of the global allergy immunotherapy market is a highly intense and fragmented. The fragmentation of the global market’s competitive landscape is due to the presence of several notable key players operating in the space. These leading companies in the global market are expected to focus on mergers, takeover, and strategic partnerships so as to keep ahead of the growing competition in the market. In addition to this, these companies are also expected to invest heavily in developing new products to cater to the unmet demands of the end-users. Some of the leading companies in the global allergy immunotherapy market include names such as HAL Allergy Group, Merck KGaA, Allergopharma, Allergy Therapeutics, ALK-Abello AS, and Stallergenes Greer among others.
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