asia pacific allergy immunotherapies Market

The Asia Pacific allergy immunotherapies market was valued at US$ 697.5 million in 2019 and is projected to reach US$ 871.08 million by 2027; it is expected to grow at a CAGR of 11.5 % during the forecast period.

The Asia Pacific allergy immunotherapies market is expected to witness substantial growth during the forecast period owing to increasing incidence of chronic diseases, rising disposable income of individuals and improving conditions of healthcare infrastructure. However, drawbacks associated with the use of allergy immunotherapies and variations in regulatory framework across different countries in the region hamper the growth of the market.

Allergy immunotherapy is primarily aimed at reducing symptoms and symptomatic medication usage, and improving allergy-related quality of life. The allergy immunotherapy market in Asia Pacific is expected to exhibit the highest CAGR among all major regional markets due to the increased incidence of allergy in developing Asian countries such as China and India. In Asia Pacific countries, ~20–30% of the total population has more than one type of allergy. Efforts toward establishing excellent regulatory scenario for the sale of drugs through online pharmacies would boost the allergy immunotherapy business growth and development in Asia Pacific in the coming years. The growing unmet needs of novel targeted drugs used to treat the allergic conditions act as key opportunities for the growth of market players. Many companies are investing in research and development to develop targeted drugs for various allergic disorders. The introduction of more such allergen immunotherapy tablets (AITs) in potential segments helps them expand their share in the global marketplace.

The COVID-19 pandemic has harmed the Asia Pacific allergy immunotherapies market size, with small and medium-scale companies struggling to sustain their businesses in the near future. Industry leaders are now focusing on creating new business practices to deal with such crises.

The Asia Pacific allergy immunotherapies market, based on Treatment, is segmented into subcutaneous immunotherapy (SCIT) and sublingual immunotherapy (SLIT). In 2019, the SCIT segment held a larger share of the market. However, the SLIT segment is expected to grow at a higher CAGR during the forecast period. The Asia Pacific allergy immunotherapies market, based on allergy type, is segmented into allergic rhinitis, asthma, food allergy, venom allergy, and others. The allergic rhinitis segment held the greatest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market during 2020–2027.

The Asia Pacific allergy immunotherapies market, based on distribution channel, is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. In 2019, the hospital pharmacy settings segment held the largest share of the market, and market for the same segment is expected to grow at the fastest CAGR during the forecast period.

A few of the major primary and secondary sources associated with the Asia Pacific allergy immunotherapy market report are Celsion Corporation, World Allergy Organization (WAO), Asia Pacific Association of Allergy and Asthma and Clinical Immunology (APAACI).