ALLERGIC RHINITIS TREATMENT MARKET ANALYSIS

Allergic Rhinitis Treatment Market Size and Trends

The global allergic rhinitis treatment market is estimated to be valued at USD 16.10 Bn in 2024 and is expected to reach USD 22.43 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.

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The growing pollution levels across major cities due to rapid urbanization and industrialization have led to increased instances of allergies and other diseases. Furthermore, the rising patient awareness regarding the availability of various treatment options for allergic rhinitis is also contributing to the market growth. However, the presence of alternative treatment options and expiry of patents of blockbuster drugs may hamper the market growth. Overall, increasing environmental pollution and growing health consciousness among consumers are expected to drive the global allergic rhinitis treatment market growth during the forecast period.

Increasing Availability of Allergen Immunotherapy Solutions

The increasing availability of allergen immunotherapy solutions is one of the factors that is expected to drive the market growth during the forecast period. For instance, in June 2021, Stallergenes Greer, one of the global leaders in allergy immunotherapy, announced that the Alusta, subcutaneous allergen immunotherapy (SCIT) solution for different allergies involving rhinitis, conjunctivitis, rhino conjunctivitis, or asthma is now available in Spain and Italy.

Growing industrialization and urbanization have led to higher concentrations of outdoor allergens like pollen, mold, dust, and animal dander in the air. At the same time, people are spending more time indoors where indoor allergens from furnishings, cleaning products, and other materials are present. This has increased individual's exposure and susceptibility to develop allergic rhinitis. Thus, the increasing prevalence of allergic rhinitis boosts the demand for effective treatment which is expected to drive the market growth over the forecast period. For instance, according to the World Allergy Organization report in October 2020, over 400 million people suffer from allergic rhinitis around the world, which to a large extent remains underdiagnosed and undertreated. In the U.S., it affects between 10-30% of the adult general population and up to 40% of children, making it the fifth most common chronic disease.