Allergic Rhinitis Treatment Market to Reach a Valuation of US$ 23.38 Billion by 2034: Fact.MR Report

High Focus on Patient-centric Approach Driving Demand for Personalized Allergic Rhinitis Treatment Options

Rockville , Nov. 22, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, more people is seeking medical attention as they become aware of allergic rhinitis and its influence on quality of life, which is contributing to market growth. The Allergic Rhinitis Treatment Market is projected to expand at 3.8% CAGR and reach a value of US$ 23.38 billion by the end of 2034.

Market growth is being driven by an increase in the prevalence of allergic rhinitis, advancements in treatment options, and increased awareness of allergic illnesses. The emergence of biologics, on the other hand, is producing a paradigm shift in the market.

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Key Segments of Allergic Rhinitis Treatment Industry Research Report

Healthcare practitioners are increasingly adopting a patient-centered approach, adapting treatment programs to the needs and preferences of individual patients, which contributes to increasing demand for tailored allergic rhinitis treatment. Better treatment options are becoming more and more necessary as allergic rhinitis becomes prevalent worldwide. 

Key Takeaways from Market Study

• The global allergic rhinitis treatment market is estimated to reach a valuation of US$ 16.03 billion in 2024.
• The market is forecasted to climb to a size US$ 23.38 billion by 2034-end.
• Demand for allergic rhinitis treatment is projected to rise at a CAGR of 3.8% from 2024 to 2034.
• The market in East Asia is predicted to expand at 3.6% CAGR over the next ten years.
• The oral administration segment is estimated to hold 48.8% market share in 2024.
• Based on allergen type, perennial allergic rhinitis is estimated to account for 46.9% market share in 2024.
• Western Europe accounts for 23.7% of the global market share in 2024.

“The market for allergic rhinitis treatment is at a crossroad with increasing emphasis on tailored and targeted medicines. The industry’s focus on innovation and research is paving the way for transformative treatment approaches that cater to the diverse needs of individuals suffering from allergic rhinitis,” says a Fact.MR analyst.

Advancements in Treatment Modalities Influencing Demand for Allergic Rhinitis Treatments

While traditional medications like corticosteroids and antihistamines have been used for a long time, new advancements are bringing in a more accurate and effective era of medicine. The introduction of biologics, which are proteins engineered to target specific immune system components implicated in allergic responses, has been a significant advancement. Immunotherapy represents a paradigm shift in the treatment of allergic rhinitis. Individual allergen profiles are used to customize immunotherapy programs, which improves treatment success and reflects a shift toward precision medicine.

Telemedicine systems and mobile applications enable healthcare practitioners to monitor patients remotely, track symptoms, change treatment plans, and improve overall patient care. As the landscape of allergic rhinitis treatment evolves, researchers are studying alternative delivery systems for existing medications, such as nasal sprays and inhalers, to increase efficacy and patient adherence. Emphasis on research and development shows a commitment to meeting unmet needs and providing a diverse range of therapy options.

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France, reflecting the global surge in allergy cases, experiences a substantial prevalence of allergic rhinitis, driving demand for effective therapies and fostering a flourishing market. The nation’s commitment to research, development, and personalized medicine, coupled with technological integration, positions it as an innovator in allergic rhinitis treatment.

Proactive preventive healthcare initiatives and collaborative efforts within the European landscape contribute to a conducive environment for market growth, attracting investments and facilitating the adoption of advanced treatments.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the allergic rhinitis treatment market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on treatment type (anti-histamines, decongestants, corticosteroids, immunotherapy [SCIT, SLITD, SLITT]),  route of administration (oral, nasal, intraocular, intravenous), distribution channel (hospital pharmacies, retail pharmacies, online pharmacies), and allergen type (seasonal allergic rhinitis, perennial allergic rhinitis), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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