Market Trends of Allergy Treatment Industry
The Subcutaneous Immunotherapy (SCIT) Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
Subcutaneous immunotherapy (SCIT) involves administering escalating doses of antigen via one or more subcutaneous injections weekly for the treatment of various allergic conditions affecting the nose, eyes, and lungs.
SCIT preparations are one of the most innovative treatment options in the immunotherapy of allergic diseases. For instance, according to the Journal of Allergy and Clinical Immunology published in January 2024, subcutaneous immunotherapy (SCIT) is a long-established treatment option for allergic rhinoconjunctivitis. Furthermore, according to an article published in Allergies in February 2022, SCIT was used for cases of severe allergic rhinitis(AR) with symptoms that were not adequately controlled by drugs, when the side effects of drugs limit the treatment options, or where the aim was to cure the disease rather than symptomatic relief of AR. Hence, the various advantages of SCIT over other allergic treatment options are expected to increase the adoption of SICT, which will ultimately drive the revenue of the segment during the forecast period.
The innovative launch of immunotherapy products is also expected to drive the segment during the forecast period. For instance, in February 2024, the US Food and Drug Administration approved Xolair (omalizumab) injection for immunoglobulin E-mediated food allergy in adults and children to treat allergic reactions (Type I) and reduce the risk of anaphylaxis reaction that could occur with accidental exposure to one or more food items. Hence, such product approvals are also expected to drive the growth of the segment during the forecast period.
Thus, factors such as various advantages of SCIT and increasing immunological product approvals are expected to accelerate the market studied over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant market share during the forecast period. This is mainly due to the increase in allergy-related research activities and the rising prevalence of allergies.
The rising prevalence of allergies in North America is expected to drive the market studied. For instance, the Health of Canadians report released in September 2023 stated that around 8.7% of Canadians aged 12 and older were diagnosed with asthma, and it was most prevalent among people aged 12 to 17.
Similarly, according to the Global Asthma Report 2022, the prevalence of asthma diagnosed by a doctor was 5.4% and 6.6% in children and adolescents, respectively, in 2022. These results indicate that the prevalence of asthma symptoms has increased in the past 15 years. Hence, the rising prevalence of asthma among the young population in North America is expected to drive the market.
Furthermore, growing strategic initiatives, such as product launches by companies, are also propelling the allergy market in North America. For instance, in November 2023, the US Food and Drug Administration granted fast-track designation for ADP101, an oral immunotherapy (OIT) that was developed by Alladapt Immunotherapeutics. Hence, such product launches are expected to drive the market during the forecast period.
Thus, factors such as the rising prevalence of allergy diseases, increasing government spending on allergy disease treatment, and increasing product launches in North America are expected to drive the market studied during the forecast period.
