May 24, 2024

Integrating Allergic Rhinitis Treatment Market Into Lifestyle Is Driven By Growing Pollution Levels

Symptoms include sneezing, stuffy nose, runny nose and itchy or watery eyes. The global market for treatments catering to seasonal allergic rhinitis and perennial forms of the condition has been steadily expanding driven by growth in pollution levels, a sedentary lifestyle and increased exposure to indoor allergens. Allergen immunotherapies that aim to reduce sensitivity to allergens by administering gradually increasing doses of the substance that triggers symptoms are emerging as ideal long term treatment options. Sublingual immunotherapy tablets and drops that dissolve under the tongue are easy to administer and show high compliance rates.

The global Allergic Rhinitis Treatment Market is estimated to be valued at US$ 20.94 billion in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends witnessed in the allergic rhinitis treatment market is the rising adoption of combination therapies involving subcutaneous immunotherapy and pharmacotherapy. Combining subcutaneous allergy shots that aim to induce long term tolerance with oral antihistamines and corticosteroids provides additive benefits in controlling symptoms and reduces dependence on long term drug usage. The introduction of recombinant technologies has enabled treatment using genetically engineered recombinant allergens that are better defined and purified. These hypoallergenic recombinant therapies targeting specific allergens are better tolerated and more efficacious than traditional allergen extracts. They allow treatment benefit to set in faster with fewer side effects.

Porter’s Analysis
Threat of new entrants: Low as large capital investment and established distribution channels make entry difficult for new players.

Bargaining power of buyers: Moderate as buyers can choose from various treatment options like drugs, devices, immuno- and allergen-specific immunotherapy.

Bargaining power of suppliers: Low due to availability of many suppliers and raw material providers.

Threat of new substitutes: Medium as alternative treatment options are available though not as effective.

Competitive rivalry: High among existing players to gain more market share through product differentiation and innovation.

Key Takeaways
The Global Allergic Rhinitis Treatment Market Size is expected to witness high growth.

Regional analysis: The Asia Pacific region is projected to grow at the fastest rate during the forecast period owing to rising environmental pollution, changing lifestyle, and expanding healthcare industry. Increasing spending on healthcare and growing awareness about allergic rhinitis treatment in developing countries of Asia Pacific are among key factors driving demand.

Key players: Key players operating in the allergic rhinitis treatment market are ABB, Emerson Electric Co., Honeywell International, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., and Schneider Electric. These players are focusing on new product launches and partnerships with other market players to strengthen their presence.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it