Allergic rhinitis is the characteristic response to localized IgE-mediated inflammation that is triggered by exposure to an aeroallergen to which the individual is sensitized. Allergic rhinitis is further differentiated on the basis of aeroallergens that can be present everywhere. Following are three different types of allergic rhinitis:-
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
R&D of new diagnostic methods is expected to propel growth of the global allergic rhinitis treatment market over the forecast period. For instance, in April 2020, researchers from The Technical University of Munich reported development of a new diagnostic method that uses nasal smear as screening test for allergic rhinitis.
Global Allergic Rhinitis Treatment Market: Opportunities
R&D in allergic rhinitis is expected to offer lucrative growth opportunities for players in the global allergic rhinitis treatment market. For instance, in May 2020, researchers from Chungbuk National University Hospital, South Korea, reported that NVP-1703 (a mixture of Bifidobacterium longum and Lactobacillus plantarum) treatment reduced urinary prostaglandin F2α and leukotriene E4 levels and therefore, NVP-1703 can be treatment option for perennial allergic rhinitis.
Global Allergic Rhinitis Treatment Market: Restraints
Limited room for new entrants is expected to hinder growth of the global allergic rhinitis treatment market. Stringent regulatory requirements, high R&D investment, and extensive clinical trials required for the launch of new drugs in the market adversely impact the entry of new market participants in the global allergic rhinitis treatment market.
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. Major factor driving the growth of global allergic rhinitis treatment market during the forecast period include increasing prevalence of allergic rhinitis, and number of treatment options.
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. Oral medication is easy to administer, and can be taken easily by the patients as compared to intranasal and intravenous medication.
R&D in allergic rhinitis is expected to boost growth of the global allergic rhinitis treatment market. For instance, in July 2018, researchers from Helmholtz Zentrum München and University of Copenhagen reported identifying risk genes that can explain about eight percent of all cases of allergic rhinitis.
The market is witnessing approval and launch of generic drugs for the treatment of allergic rhinitis. For instance, in May 2019, Unichem Laboratories received tentative approval from the U.S. Food and Drug Administration for its generic copy of allergic rhinitis Johnson & Johnson Consumer Inc.'s Zyrtec-D 12 Hour used for treating allergic rhinitis.
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
June 2018: Innovus Pharmaceuticals, Inc. launched AllerVarx for the treatment of allergic rhinitis in Canada
February 2018: ALK announced the availability of its sublingual allergy immunotherapy tablet ACARIZAX on prescription in France for adults who suffer from house dust mite allergic rhinitis and allergic asthma