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Allergic Rhinitis Market (Class of Drugs - Immunotherapies, Intranasal Corticosteroids, and Antihistamines; Route of Administration - Intranasal, Oral, and Parenteral): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : November, 2020

  • Rep Id : HC0867

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on allergic rhinitis market provides in-depth analysis of segments and sub-segments in the global as well as regional allergic rhinitis market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional allergic rhinitis market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global allergic rhinitis market. According to the report, the global allergic rhinitis market is projected to grow at a CAGR of 3.17% over the forecast period of 2020-2026.

 

Market Insight

Allergic rhinitis is growing as a global health problem. Over 400 million people worldwide have allergic rhinitis, which is largely underdiagnosed and undertreated. In the US, it affects 10%-30% of the adult population and up to 40% of children. Allergic rhinitis is treated using medications such as antihistamines, intranasal corticosteroids, or immunotherapies. Nasonex, Singulair, and Allegra are the top-selling drugs used for the treatment of allergic rhinitis. Dymista, EpiPen, and Zyrtec are also used in the treatment of allergic rhinitis. In certain cases, alternative forms of treatment are also employed. The rising prevalence of allergic rhinitis worldwide is anticipated to play a major role in the growth of the market during the forecast period. The allergic Rhinitis Drugs market is expected to experience stable growth globally. The Allergic Rhinitis Drugs market accounted for USD 12.88 Billion in 2019 and is expected to reach USD 15.84 Billion by 2026.

 

The worldwide prevalence of allergic rhinitis has witnessed a significant rise, with the regional prevalence rates varying from 10%-45%. The increasing prevalence could be attributed to increased exposure to allergens, irritants, and pollutants. Currently, 40% of children and 10 to 30% of adults are affected by allergic rhinitis. The European Community Respiratory Health survey recorded a prevalence of 10 to 41% in adults with allergic rhinitis. Furthermore, an increase in exposure to vehicular pollution, animal dander, or pollen will lead to more people seeking treatment for the condition, increasing the intake of medicines, contributing to the growth of the allergic rhinitis drugs market. Additionally, the rise in awareness about allergic rhinitis due to several government initiatives are also propelling the growth of the allergic rhinitis drugs market. Besides that, initiatives by the World Allergy Organization (WAO) Allergic Rhinitis Working Group have also created awareness about better patient care for individuals with allergic rhinitis, which in turn is expected to increase the adoption of allergic rhinitis drugs over the forecast period. However, the side effects of these drugs are discouraging people from using them though they are effective. The use of drugs such as azelastine, cetirizine, desloratadine, fexofenadine, levocetirizine, loratadine, are olopatadine causes nose bleeds, nasal irritation, watery eyes, itchy nose and throat, insomnia, and dizziness. Apart from this, some individuals even experience rapid heartbeat, tremors, and hallucinations. These effects interfere with the daily activities of individuals, resulting in uncertainty regarding the safety and efficacy of the drugs. Moreover, the rising investments in R&D to improve the efficiency of these drugs as well as a large number of pipeline drugs for the treatment of allergic rhinitis are expected to create fruitful opportunities for the growth of the allergic rhinitis drugs market.

 

Furthermore, North America holds the largest share in the global allergic rhinitis drugs market. The high awareness about the disease and high spending capacity of the population in North American countries such as the US and Canada contributes to the growth of the market in the North America region. Moreover, Europe accounted for the second-largest share in the global allergic rhinitis drugs market in 2019. The Asia Pacific has a comparatively low market share as compared to Europe and North America, but an increase in this share is expected during the forecast period due to the rise in the incidence of allergic rhinitis. Several studies suggest that there is an increase in the prevalence of allergic rhinitis in countries such as China, Japan, and India which will propel growth in this region.

 

Segment Covered

The report on global allergic rhinitis market covers segments such as class of drugs, and route of administration. On the basis of class of drugs, the sub-markets include immunotherapies, intranasal corticosteroids, and antihistamines. On the basis of route of administration, the sub-markets include intranasal, oral, and parenteral.

 

Companies Profiled:

The report provides profiles of the companies in the market such as GlaxoSmithKline, Merck, Sanofi, Alcon, Adamis Pharmaceuticals, Belcher Pharmaceuticals, Dr. Reddy's Laboratories, Mitsubishi Tanabe Pharma, Novartis, and Pfizer.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of allergic rhinitis market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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