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Press Release: Allergic Rhinitis Treatment Market to Reach US$ 17,863.6 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Allergic rhinitis is a common nasal condition characterized by nasal pruritus, sneezing, rhinorrhea, and nasal congestion. Other symptoms of the condition include, pressure, exaggerated pain responses (hyperalgesia), pain (allodynia), and hyposmia.
The global allergic rhinitis treatment market is estimated to account for US$ 13,950.7 Mn in terms of value and is expected to reach US$ 17,863.6 Mn by the end of 2027.
Global Allergic Rhinitis Treatment Market: Drivers
Increasing prevalence of allergic rhinitis is expected to propel growth of the global allergic rhinitis treatment market over the forecast period. For instance, according to the Centers for Disease Control and Prevention, the U.S. recorded 19.2 million and 5.2 million cases of hay fever in adults aged 18 and over and children under age 18 years, respectively, in 2018.
Moreover, increasing rate of self-medication among patients and availability of over-the-counter (OTC) drugs is also expected to boost demand for allergic rhinitis treatment.
Statistics:
Oral route of administration held dominant position in the global allergic rhinitis treatment market in 2019, accounting for 48.4% share in terms of value, followed by Nasal and Intravenous, respectively.
Figure 1. Global Allergic Rhinitis Treatment Market Share (%), by Value, by Treatment Type, 2019
Global Allergic Rhinitis Treatment Market: Restraints
Absence of cure is expected to hinder growth of the global allergic rhinitis treatment market. There is no cure for allergic rhinitis. However, the effects of the condition can be lessened with the use of nasal sprays and antihistamine medications.
Moreover, the symptoms of allergic rhinitis may resemble other conditions or medical problems, which is expected to limit the market growth.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 13,450.3 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 3.6% | 2027 Value Projection: | US$ 17,863.6 Mn |
| Geographies covered: |
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| Companies covered: |
Merck & Co., Boehringer Ingelheim, AstraZeneca, GlaxoSmithKline PLC, Sanofi S.A., Johnson & Johnson, Teva Pharmaceutical Industries Ltd., Alcon (Novartis AG), Unichem Laboratories, Mylan, ALK, Innovus Pharmaceuticals, Inc., and Glenmark Pharmaceuticals Ltd |
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Global Allergic Rhinitis Treatment Market: Opportunities
High incidence of asthma is expected to offer lucrative growth opportunities for players in the global allergic rhinitis treatment market. For instance, according to The Global Asthma Report 2018, around 300 million people have asthma worldwide, and the number is expected to reach 100 million by 2025.
Moreover, R&D in allergic rhinitis is also expected to aid in growth of the market. For instance, in May 2019, Glenmark Pharmaceuticals announced positive results from a Phase 3 study of Ryaltris, an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis.
The global allergic rhinitis treatment market was valued at US$ 13,450.3 Mn in 2019 and is forecast to reach a value of US$ 17,863.6 Mn by 2027 at a CAGR of 3.6% between 2020 and 2027.
Figure 2. Global Allergic Rhinitis Treatment Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
The market is witnessing R&D of new drugs for improving quality of sleep for allergic rhinitis patients. For instance, in February 2019, ALK released new analysis of clinical trial data showing that its sublingual allergy immunotherapy tablet for the treatment of house dust mite (HDM)-related allergy can significantly improve quality of sleep for allergic rhinitis patients.
Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in February 2020, Glenmark Specialty S.A., the Switzerland-based subsidiary of Glenmark Pharmaceuticals Ltd. entered into an exclusive licensing agreement with Hikma Pharmaceuticals PLC for commercializing its novel nasal spray Ryaltris for the treatment of allergic rhinitis in the US.
Global Allergic Rhinitis Treatment Market: Competitive Landscape
Major players operating in the global allergic rhinitis treatment market include, Merck & Co., Boehringer Ingelheim, AstraZeneca, GlaxoSmithKline PLC, Sanofi S.A., Johnson & Johnson, Teva Pharmaceutical Industries Ltd., Alcon (Novartis AG), Unichem Laboratories, Mylan, ALK, Innovus Pharmaceuticals, Inc., and Glenmark Pharmaceuticals Ltd.
Global Allergic Rhinitis Treatment Market: Key Developments
Major players in the market are focused on approval and launch of new drugs to expand their product portfolio. For instance, in June 2019, ALK completed the marketing authorization procedure for its tree sublingual allergy immunotherapy tablet ITULAZAX in 17 European countries.
Similarly, in November 2018, Mylan launched Dymista, a new class of treatment for allergic rhinitis in Malaysia.
Allergic rhinitis or hay fever is an IgE-mediated disorder caused by allergens such as mold or tress, animal, dander, house dust mites, weed pollens, and grass. It can occur in two different forms namely, seasonal and perennial, which in turn causes mild or moderate to severe inflammation inside the nose. Some of the major symptoms of allergic rhinitis include nasal congestion, rhinorrhea, sneezing, nasal itching, and itchy eyes, or it can be associated with asthma as well. Allergic rhinitis and sinusitis are linked to each other, as allergic rhinitis blocks the nose, which in turn blocks the sinuses. In 2015, according to World Allergy Organization, over 400 million people suffered from allergic rhinitis worldwide. Moreover, in the U.S., 10-30% adults and around 40% children were affected by allergic rhinitis.
Restraints of the Global Allergic Rhinitis Treatment Market
Major factors hampering the growth of the allergic rhinitis treatment market during the forecast period constitutes of absence of disease curing treatment, and similarity of symptoms with other diseases.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 35 market data tables and 26 figures on “Allergic Rhinitis Treatment Market – Global forecast to 2027.
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