The report forecasts the global allergy immunotherapies market to grow at a CAGR of 7.3% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend propelling market growth is the advent of SPIRE. The SPIRE allergy immunotherapy is a novel method to treat allergies. This therapy uses the proprietary MicronJet system to maximize the immune response. MicronJet, a novel device approved in the US and the EU, provides patient friendly, consistent, and intradermal administration of drugs. Vendors are showing an interest in this patented novel synthetic pharmaceutical technology due to its ease of use and compatibility compared to the complex techniques of existing immunotherapies.
According to the report, a key growth driver is the presence of high unmet medical needs. Though existing therapies are highly effective in relieving and controlling symptoms, the market still requires drugs that reduce inflammation and irreversible airway remodeling. In Europe, the US, and Japan, an estimated 39 million individuals are not in control of their respiratory-related allergies, as only a few drugs provide appropriate treatment; only about 4.5 million receive AIT. Globally, only 55% of all the allergic rhinitis cases have been diagnosed. In addition, allergic rhinitis and allergic asthma are chronic diseases that cannot be cured, and most patients needed lifelong treatment and lifestyle adjustments. Thus, an unmet medical need exists for novel targeted drugs that treat the underlying cause of these conditions.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?