Allergic Rhinitis Market Trends

Growth Drivers

• Advancements in treatment options: Innovative treatment options have been the greatest catalyst for growth in allergic rhinitis, as developing pharmaceutical therapies can better ensure efficacy, safety, and compliance. For instance, in February 2021, it was published that Tezspire (Tezepelumab), developed by Amgen and AstraZeneca is the first biologic to significantly reduce exacerbations in a broad population of patients with severe, uncontrolled asthma. The availability of newer, much safer antihistamines and intranasal corticosteroids has maximally expanded the treatment options and increased the levels of patient satisfaction and compliance.
• Rising healthcare investments: The growth of allergic rhinitis market is mainly driven by increased access to medical care and greater investment in more advanced treatments. For instance, in January 2021, Neurent Medical announced the closing of a USD 25 million Series B financing in innovative solutions for treating chronic inflammatory sino-nasal disease. The proceeds of the financing were utilized to support the expansion of the company's clinical and commercial operations. It has led to a higher rate of diagnosis and treatment of allergic rhinitis. Thus, fueling up the demand for a line of treatments ranging from over-the-counter antihistamines to biologics.

Challenges

• Variability in environmental allergens: The concern over significant variability in environmental allergens makes allergic rhinitis a challenging market. It is due to the constant fluctuation of the levels of pollen, dust mites, and mold that creates inconsistent symptom control and treatment efficacy. Such variability creates confusion for healthcare providers regarding uniform management as patients have varied triggers, dependent on regional exposure and seasonal and climatic factors. Therefore, the patients will need to be managed through a plan tailored to each patient, which becomes complicated and affects the therapy currently in place. This, in turn, limits the growth of the allergic rhinitis market as a whole.
• Regulatory obstacles: The most significant hindrance to market growth for allergic rhinitis is the regulatory framework and rules. The protracted and technical process of drug development for new drugs delays the appearance of new treatments. These regulatory requirements are particularly lengthy when it comes to clinical trials, safety and efficacy assessments, and product approvals concerning new drugs such as biologics and advanced immunotherapies. This makes the potential drugs inaccessible to patients more often than otherwise but adds cost and risks to pharmaceutical companies, thus slowing the speed of innovation and market expansion.