Global Allergy Immunotherapies Market 2019-2023
About this market
The emerging drug development technologies is likely to help the market grow during the forecast period. The recent advances in the immunotherapy drug development are helping the pharmaceutical companies to develop more efficient immunotherapies for the treatment of various allergies. Technavio’s analysts have predicted that the allergy immunotherapies market will register a CAGR of more than 7% by 2023.
Increasing prevalence of various types of allergies
The increasing prevalence of various types of allergies across the globe is driving the allergy immunotherapies market. The growing occurrence of allergy is generated by the factors such as increasing pollution and augmented consumption of tobacco products like cigarettes, which is likely to boost the global allergy immunotherapy market.
The Unknown pathogenesis of various allergies is the major challenge faced by the global allergy immunotherapies market. The unclear cause of allergy results in physicians misdiagnosing the allergen, and as a result the treatment prescribed is not as effective as it should be, and it often leads to adverse events.
For the detailed list of factors that will drive and challenge the growth of the allergy immunotherapies market during the 2019-2023, view our report.
The market appears to be concentrated and with the presence of few companies including ALK and Allergy Therapeutics the competitive environment is quite intense. Factors such as the emerging drug development technologies and the technological advances in allergy diagnostics, will provide considerable growth opportunities to allergy immunotherapies manufactures. ALK, Allergy Therapeutics, Stallergenes Greer, HAL Allergy, and Merck are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. The current advances in the immunotherapy drug development are helping the pharmaceutical companies to develop more effective immunotherapies for the treatment of various allergies. Several established allergy immunotherapy manufacturers are striving for their share of the global allergy immunotherapies market, and the new players must differentiate themselves to gain vital traction over their competitors.’
Technavio Announces the Publication of its Research Report – Global Allergy Immunotherapies Market 2019-2023
Technavio recognizes the following companies as the key players in the global allergy immunotherapies market: ALK, Allergy Therapeutics, Stallergenes Greer, HAL Allergy, and Merck.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the emerging drug development technologies.”
According to the report, one of the major drivers for this market is the increasing prevalence of various types of allergies.
Further, the report states that one of the major factors hindering the growth of this market is the unknown pathogenesis.