Allergic rhinitis, commonly known as hay fever, is an inflammation of the nasal passages caused by an Immunoglobulin E (IgE) immune response to indoor and outdoor allergens such as dust, mold spores, animal dander, and pollen. Symptoms include sneezing, nasal congestion, nasal itching, and runny nose. Antihistamines, corticosteroid nasal sprays, and immunotherapy treatment help provide relief from symptoms.
The global allergic rhinitis treatment market size 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:
The rising prevalence of autoimmune disorders is expected to drive the growth of the market during the forecast period. According to a study published in the Journal of Clinical and Translational Science in 2020, the prevalence of autoimmune disorders has increased globally over past few decades. Furthermore, genetic and environmental factors such as pollution, smoking, dietary changes, geographic location, and lifestyle patterns are contributing to the development of autoimmune conditions. Thus, the increasing incidence of autoimmune diseases including allergic rhinitis is anticipated to boost the demand for allergic rhinitis treatment drugs and devices over the forecast period.
Segment Analysis
Intranasal corticosteroids is the dominating sub-segment in the allergic rhinitis treatment market. It holds around 45% share owing to its effectiveness in treating symptoms of nasal inflammation, congestion and reducing recurrence rate of allergic rhinitis. Intranasal corticosteroids are also effective without the side effects of oral corticosteroids.
Key Takeaways
The Global Allergic Rhinitis Treatment Market Size is expected to witness high growth during the forecast period owing to rising pollution levels, increasing prevalence of allergic diseases and growing older population.
Regional analysis: North America dominated the global allergic rhinitis treatment market in 2023 and is expected to continue its dominance during the forecast period as well. This is attributed to high healthcare expenditure, growing medical tourism, rising pollution and presence of advanced healthcare facilities in the region. Asia Pacific is expected to witness fastest growth in the market due to rising awareness regarding treatment of allergic diseases, growing spending on healthcare and increasing pollution levels with growing industrialization.
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.
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Allergic rhinitis market, commonly known as hay fever is an allergic reaction caused by increased sensitivity to allergens in the surrounding environment of the patients.
This reaction results in the patient suffering from runny or stuffy nose, watery eyes constant sneezing and swelling & redness around the eyes.
The most common cause of this allergic reaction is the increased amount of pollen in the environment.
This disease for its diagnosis requires the physician to take a note of patient history, while also conducting diagnosis of the nasal passage of the patient, while in some cases skin testing is also an effective way of detection.Allergic rhinitis market is expected to rise to an estimated value of USD 10.54 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to the innovations in product development and offerings which have resulted in marketing of drugs which not only treat the symptoms but rather the cause itself.The Allergic rhinitis market report puts forth a range of segments linked to Antihistamines, industry and market with comprehensive research and analysis.
These involve industry outlook with respect to critical success factors (CSFs), industry dynamics that primarily covers drivers and restraints, market segmentation & value chain analysis, key opportunities, application and technology outlook, regional or geographical insight, country-level analysis.
