Seasonal Allergic Rhinitis Market Will Grow At Highest Pace Owing To Increasing Demand For Immunotherapy Treatment
The seasonal allergic rhinitis market comprises drugs, immunotherapy, and antihistamines used in the treatment of seasonal allergies, also known as hay fever. Allergic rhinitis is caused by an allergic reaction to airborne allergens such as pollen from trees, grass, flowers, and weeds. Common symptoms of seasonal allergic rhinitis include sneezing, nasal congestion, runny nose, and itchy, watery eyes. The demand for immunotherapy treatment, also known as allergy shots, is increasing as it provides long-term relief from allergies with minimal side effects as compared to medication.
The Seasonal Allergic Rhinitis Market is estimated to be valued at US$ 10.8 Bn in 2024 and is expected to exhibit a CAGR of 2.9% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the seasonal allergic rhinitis market are Regeneron Pharmaceuticals, Revolo Biotherapeutics, Allergy Therapeutics, Emergo Therapeutics, ALKAbello. Regeneron Pharmaceuticals dominates the market with its successful drug Dupixent which treats both seasonal allergic rhinitis and other allergic conditions.
The seasonal allergic rhinitis market is witnessing high demand due to the growing prevalence of allergic rhinitis worldwide. According to a study by the American Academy of Allergy Asthma & Immunology, more than 50 million Americans suffer from allergies every year with seasonal allergic rhinitis affecting 20% of the global population.
Technological advancements are being made in allergy immunotherapy which involves exposing patients to gradually increasing doses of allergen extracts to boost immunity. New advanced therapies like sublingual and subcutaneous immunotherapy are gaining popularity due to easy mode of administration and higher efficacy.
Market Trends
The increased adoption of combination therapies using corticosteroids with antihistamines for treating moderate to severe symptoms is a key trend in the seasonal allergic rhinitis market. This provides better relief than single therapy. Another trend is the growing preference for generic drugs due to their lower cost compared to branded drugs.
Market Opportunities
Rising pollution levels have made seasonal allergies more severe creating opportunities for seasonal allergic rhinitis drugs. Over-the-counter remedies and nasal sprays are expected to witness high demand owing to convenience for self-treatment of mild symptoms.
Impact Of COVID-19 On Seasonal Allergic Rhinitis Market Growth
The COVID-19 pandemic has impacted the seasonal allergic rhinitis market in ways. The supply chain disruptions led to shortages in antihistamine nasal spray supplies causing patients difficulties. The lockdowns and social distancing measures reduced outdoor activities which provided temporary relief to seasonal allergy patients. However, it also delayed in-person doctor consultations and allergy testing limiting appropriate diagnoses and treatment plans. Telehealth emerged as an important tool for doctors to remotely monitor patients and adjust medications.
The pandemic shifted priorities of drug makers away from new product development and clinical trials towards vaccines and antiviral drugs. This slowed new seasonal allergy drug approvals. Post pandemic, the growth is expected to rebound faster in developing countries as healthcare budgets recover and access to treatment improves. Meanwhile, developed regions may see a moderate growth due to preference for online consultations, home-based allergy management devices and expectation of new innovations that provide lasting relief.
To sustain the market potential, companies need strategies addressing supply chain resilience, funding of new therapies and leveraging digital platforms. Collaborations with telehealth providers will help expand access while monitoring pandemics' long term impact on seasonal patterns is important for production planning.
Geography: Europe
Europe accounts for the largest share of the seasonal allergic rhinitis market, both in terms of value and volume. This is attributed to high per capita healthcare spending, advanced medical infrastructure and greater awareness about allergy diagnosis and management. Countries such as Germany, United Kingdom and France have a major market presence due to large patient pools and strong reimbursement structures supporting quality care.
The market is also rapidly growing in Central and Eastern European nations as healthcare reforms attract international pharmaceutical investments. Rising environmental pollution and allergen exposures in developing cities are contributing to higher disease incidence. Overall, Europe will continue dominating the seasonal allergic rhinitis space backed by strong research environments discovering novel therapeutic targets.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
What Are The Key Data Covered In This Seasonal Allergic Rhinitis Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Seasonal Allergic Rhinitis Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Seasonal Allergic Rhinitis Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Seasonal Allergic Rhinitis Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Seasonal Allergic Rhinitis Market vendors
FAQ’s
Q.1 What are the main factors influencing the Seasonal Allergic Rhinitis Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Seasonal Allergic Rhinitis Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Seasonal Allergic Rhinitis Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it