Rhinitis (AR), also known as hay fever, is a common chronic condition that has a significant impact on the quality of life. Allergic rhinitis is often co-related with the risk of asthma. Around 80% of asthma patients are also diagnosed with allergic rhinitis, and improved control of nasal allergies can also improve asthma control. In recent years, the global allergic rhinitis market has grown significantly, mainly due to its growing prevalence of the condition.
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The market witnesses a dramatic rise in the demand for effective therapeutics to treat hay fever. Besides, factors such as the expanding healthcare sector and increasing government initiatives to spread awareness about allergic diseases are characterizing the market growth. Also, growing occurrences of various respiratory diseases & disorders, such as asthma, bronchospasm, urticaria, and others, contribute to the market growth exponentially. Resultantly, the allergic rhinitis market exhibits a lucrative growth rate.
According to Market Research Future (MRFR), the global allergic rhinitis market is projected to reach USD 15064.12 MN by 2025, registering 3.10% CAGR over the review period (2019-2025). Factors such as the increasing prevalence of allergic rhinitis, increasing government initiatives to spread the awareness about AR, growing healthcare expenditures, and expansion of the private healthcare system, act as key driving forces for the market growth.
On the other hand, side-effects associated with the drug used during the treatment of allergic rhinitis are anticipated to act as major growth impeders for the market. Nevertheless, increasing R&D investments made by the public & private sectors in the development of breakthrough medicines and therapeutics would support the growth of the market throughout the forecast period. Also, a significant increase in the global population, economy, and per capita income healthcare expenditure would substantiate the market growth.
Global Allergic Rhinitis Market – Segments
The report is segmented into five dynamics;
By Type : Seasonal Allergic Rhinitis, Perennial Allergic Rhinitis, and Occupational Allergic Rhinitis.
By Treatment : Antihistamines, Corticosteroids, Decongestants, Immunotherapy, Intranasal Anticholinergics, and others.
By Route of Administration : Nasal, Oral, and others.
By Distribution Channel : Retail Pharmacies, Hospital Pharmacies, Online Stores, and others.
By Regions : Americas, Europe, Asia Pacific, and the Middle East and Africa.
Global Allergic Rhinitis Market – Regional Analysis
North America dominates the global Allergic Rhinitis market. The significant market share attributes to the rising prevalence of hay fever and the presence of major market players in the region. Besides, increasing strategic partnerships between the industry players to enhance product portfolio, alongside the increasing cases of respiratory disorders and availability of advanced medications for the treatment of allergic rhinitis, foster the regional market growth.
Moreover, the availability of advanced medical & drug development technologies and rising numbers of pharma companies in the region drive the market growth. Also, the growing emphasis on delivering a cost-competitive product range boosts the growth of the regional market. The North American allergic rhinitis market is estimated to retain its leading position in the global market throughout the assessment period.
Europe stands second in the global allergic rhinitis market. The market is driven by the proliferating healthcare and pharmaceutical industry in the region. Moreover, factors such as the rising adoption of advanced treatments by hospitals and a large patient base in the European countries drive the regional market growth.
Also, continuous efforts made by Global Allergy and Asthma European Network to strengthen European research, spread excellence impact the market growth positively. The European allergic rhinitis market is estimated to create a substantial revenue pocket during the forecast period.
The Asia Pacific allergic rhinitis market is growing rapidly. Factors such as the continuous healthcare reforms in developing countries like India and China propel the growth of the market. Resultantly, these emerging economies are expected to account for the maximum share in the regional market.
Also, growing cases of allergic rhinitis induced due to tobacco smoke, exposure to air pollutants, vehicular pollution, and other air pollution influence market growth. APAC allergic rhinitis market is expected to grow at a CAGR of 3.65% during the forecast period.
Global Allergic Rhinitis Market – Competitive Landscape
The allergic rhinitis market appears to be highly competitive due to the presence of several well-established participants. The market is commoditized, where major drug classes are generic. Also, owing to patent expiration, the market has suffered a huge loss. Industry players try to build additional capacities to launch a portfolio by developing medicines in in-house R&D Centres commercially. Moreover, they look forward to investing more in R&D Infrastructure for the future growth of their company
Players active in the global allergic rhinitis market include GlaxoSmithKline plc, AstraZeneca, Johnson & Johnson Services, Inc, Sanofi, Bayer AG, Boehringer Ingelheim, ALK-Abelló A/S, Merck & Co., Novartis AG, and Meda Pharmaceuticals, among others.
Industry/ Innovation/ Related News:
May 04, 2020 —- A group of Korean researchers quoted that, two out of 48 FDA-approved drugs they studied are found promising against SARS-CoV-2. These drugs include an anti-helminthic drug called niclosamide and ciclesonide. Both these drugs have demonstrated “very potent” antiviral activity against SARS-CoV-2. These drugs were approved by FDA to treat asthma and allergic rhinitis.
The FDA approval for other uses would significantly reduce the time needed to gain FDA approval of use in COVID-19. The investigators screened the drugs in Vero cells, a cell line developed from kidney cells of the African Green Monkey, which are commonly used to grow viruses for vaccine production. Researchers have published their study in Antimicrobial Agents and Chemotherapy, a journal of the American Society for Microbiology.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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