Introduction:
The sublingual allergy immunotherapy (SLIT) market achieved a milestone by reaching US$ 414.5 million in 2022, with a projected Compound Annual Growth Rate (CAGR) of 9.1%. This expansion is anticipated to propel the market to US$ 1.02 billion by the close of 2033.
According to assessments by Persistence Market Research, the Odactra drug secured a dominant market share of 40.1% in 2022, while sublingual allergy immunotherapy contributed to a 2% share of the global allergy treatment market. A notable surge in the prevalence of allergic disorders, such as food allergies, allergic rhinitis, atopic dermatitis, and allergic rhinitis, has been observed in recent years.
A 2019 study published in the National Library of Medicine indicates that 20% of the global population is collectively affected by allergic disorders. Key drivers for market growth include a focus on innovation in sublingual immunotherapies in developing nations and a rising incidence of various forms of allergies.
The Centres for Disease Control and Prevention (CDC) reports a rapid increase in food allergies, particularly among children, foreseeing a heightened demand for allergy immunotherapy. The SLIT market is witnessing growth due to increased accessibility to advanced technologies like molecular diagnostics and genetic testing, which facilitate precise diagnosis and personalized therapy planning, thereby improving patient outcomes.
Anticipated market growth over the forecast period is attributed to the growing acceptance of advanced medical technologies and the rapid expansion of ground breaking treatments in emerging countries.
Key players are expected to boost investments in research and technological advancements for the commercialization of allergy immunotherapy products, leading to more advanced and specific treatment options. Manufacturers are actively engaged in research efforts aimed at developing immunotherapy treatments for food allergies, with over 40 products in clinical trials slated for commercialization within the next 2 to 3 years.
Key Market Growth Factors and Dynamics Sublingual Allergy Immunotherapy Market:
Rising Prevalence of Allergic Disorders: The global prevalence of allergic disorders, including food allergies, allergic rhinitis, atopic dermatitis, and allergic rhinitis, has been on the rise. This increasing incidence is a significant driver for the growth of the SLIT market.
Global Impact of Allergic Disorders: A 2019 study published in the National Library of Medicine revealed that 20% of the worlds population is collectively affected by allergic disorders. This widespread impact underscores the substantial market potential for allergy immunotherapy solutions.
Innovation in Sublingual Immunotherapies: There is a focus on innovation in sublingual immunotherapies, particularly in developing nations. Ongoing research and development efforts are aimed at enhancing the efficacy and accessibility of these treatments, contributing to market growth.
Increased Accessibility of Advanced Technology: The market is benefiting from the expanding accessibility of advanced technologies, such as molecular diagnostics and genetic testing. These technologies enable precise diagnosis and individualized therapy planning, improving patient outcomes and contributing to the overall growth of the SLIT market.
Rapid Technological Advancements: The SLIT market is witnessing growth due to the rapid advancement of medical technologies. This includes not only diagnostic tools but also therapeutic innovations that enhance treatment efficacy and patient experience.
Rising Acceptance of Advanced Medical Technologies: Over the forecast period, the increasing acceptance of advanced medical technologies is expected to drive market growth. Patients and healthcare providers alike are embracing innovative solutions, contributing to the adoption of sublingual allergy immunotherapy.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2032 – By Product Type, Application, End-user, and Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): https://www.persistencemarketresearch.com/market-research/sublingual-allergy-immunotherapy-market.asp
Market Mergers & Acquisitions: Sublingual Allergy Immunotherapy Market:
The sublingual allergy immunotherapy (SLIT) market has been characterized by a series of strategic mergers and acquisitions, underscoring the industrys commitment to innovation and market expansion.
Notable transactions include ALK-Abello A/Ss acquisition of Mercks Allergy Business in 2016, fortifying ALK-Abellos global position by integrating Mercks sublingual allergy immunotherapy products.
Similarly, Ares Life Sciences acquisition of Stallergenes Greer in 2015 contributed to the financial strength and strategic initiatives of Stallergenes Greer in the field of allergy immunotherapy. Merck KGaAs acquisition of Allergopharma in 2018 aimed at enhancing its capabilities in allergen immunotherapy, while ALK-Abello A/Ss acquisition of Astellas Pharmas business in 2017 expanded its footprint in Europe for sublingual allergy immunotherapy tablets. Circassia Pharmaceuticals acquisition of Prosonix in 2015 bolstered its respiratory and allergy portfolio, aligning with its goal of leadership in specialty pharmaceuticals.
These strategic moves emphasize the industrys focus on portfolio diversification, geographic expansion, and the pursuit of innovative solutions to address the growing demand for sublingual allergy immunotherapy globally. As the market evolves, such mergers and acquisitions are likely to continue shaping the competitive landscape and fostering advancements in allergy treatment options.
Future outlook Development:
Increased Acceptance and Usage: Sublingual immunotherapy has been gaining acceptance as an alternative to traditional allergy shots (subcutaneous immunotherapy). It offers a more convenient and less invasive option for patients, which may contribute to increased adoption.
Advancements in Formulations: Ongoing research and development efforts may lead to improvements in the formulations of sublingual allergy immunotherapy products, making them more effective and better tolerated by patients.
Expansion of Indications: Initially used for certain types of allergies, the range of indications for sublingual allergy immunotherapy may expand. Researchers and pharmaceutical companies may explore its efficacy for various allergic conditions, broadening its market potential.
Regulatory Developments: Regulatory approvals and guidelines play a crucial role in the market expansion of any therapeutic approach. Changes in regulatory frameworks or the approval of new products can significantly impact the growth of the sublingual allergy immunotherapy market.
Patient-Centric Approach: With a growing emphasis on personalized medicine, there may be an increased focus on tailoring sublingual allergy immunotherapy to individual patient needs. This could involve the identification of specific allergens and the development of customized treatment plans.
Key Players: ALK Abello, Stallergenes Greer, Allergy Therapeutics, Aimmune Therapeutics, Merck, Biomay AG, HAL Allergy Group, DBV Technologies, Merck KgaA
Key Segmentation:
Drug:
Odactra
Grastek
Ragwitek
Oralair
Actair
Indication:
Allergic Rhinitis
Allergic Asthma
Food Allergy
Atopic Dermatitis
Allergen:
Pollen
Grass Pollen
Weed Pollen
Tree Pollen
House Dust Mites
Mold
Animal Dander
Distribution Channel:
Institutional Sales
Government Hospitals
Semi-Government Hospitals
Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
FAQ’s Answered In our Report:
What is the current size of the Sublingual Allergy Immunotherapy Market, and what is its anticipated growth rate?
What are the main drivers contributing to the growth of the sublingual allergy immunotherapy market?
Are there notable challenges or barriers hindering the widespread adoption of sublingual allergy immunotherapy?
What are the key trends in sublingual allergy immunotherapy research and development?
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
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Web: https://www.persistencemarketresearch.com
This press release first seen on Brilad
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Sahyadri Times journalist was involved in the writing and production of this article.
