Global Allergic Rhinitis Market – Overview
Allergic Rhinitis is also widely known as hay fever which occurs as an allergic reaction to allergen bacteria. Allergic rhinitis causes itchy nose & eyes along with sneezing & a runny nose. Pollen is considered the most common allergen causing allergic rhinitis.
Besides, allergic rhinitis is contagious, and it severely affects the human respiratory system.
As a result, the Health and Prevention Ministries across the world provide comprehensive and integrated health, releasing alert to their respective citizens at the starting of every allergic rhinitis season as a part of their strategy to ensure community wellness.
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Allergic Rhinitis is a prevailing disease, and hence, the increasing prevalence of Hay Fever, along with the proliferation of FDA-approved rapid diagnostic and testing methodologies drive the growth of the allergic rhinitis market. Furthermore, the recent advances in the medical science escalate the market on the global platform.
Leading Industry Key Players
Leaders in the global allergic rhinitis market include Merck (US), GSK (UK), Sanofi (France), Cigna (USA), Himalaya (India), J&J (US), Chong Kun Dang Pharmaceutical Corp. (South Korea), FaesFarma (Spain), Glenmark Pharmaceutical (India), Olain Farm (Lavtvia), Hisamitsu Pharmaceutical Co.in (Japan), and Ampio pharmaceutical Inc. (US).
Global Allergic Rhinitis Market – Segmentations
MRFR has segmented its analysis into four key dynamics for the convenience of understanding;
By Types : Comprises – Seasonal, Perennial, and Non-allergic rhinitis among others.
By Treatments : Antihistamines (Allegra, Clarinex, Xyzal & Zyrtec), Decongestants (Afrin nasal spray, Sudafed, Sudafed PE, and Zyrtec-D), Eye drops, and Nasal sprays among others (immunotherapy, sublingual immunotherapy (SLIT) & home remedies).
By Tests : Skin Test, IgE RAST Test, and Complete Blood Count among others.
By Regions : Europe, North America, APAC, and Rest-of-the-World.
Market Growth Analysis
Acknowledging the exponential growth, the market is perceiving currently, Market Research Future (MRFR) in its recently published study report asserts that the global allergic rhinitis market is expected to worth USD 15 BN by 2023, registering approximately 7% CAGR throughout the assessment period (2017 – 2023).
Increasing patient pool suffering from various types of allergies has spurred the market growth. Additional factors contributing to the market growth include a rising demand and rapid adoption of various treatment methods to treat allergic rhinitis, increasing R&D activities, clinical trials, and new approvals among others.
Market players are increasingly collaborating with hospitals and independent research centers to develop new treatments, which in turn is driving the market growth.
Simultaneously, increasing uptake of allergic rhinitis treatments among medical professionals as well as patients, along with the growing awareness towards benefits of the procedures, and increasing success rate are some of the crucial factors for the market growth.
Conversely, factors such as incidents of diagnostic products resistance/allergies and unmet clinical needs, are expected to restrict the market growth of Allergic Rhinitis. However, advancements in biotechnology coupled with the planned Government initiatives are expected to fuel the global Allergic Rhinitis market.
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Global Allergic Rhinitis Market – Geographical Analysis
The North American region leads the global allergic rhinitis market with a significant market share. The market is further expected to create a large revenue pocket growing at a considerable CAGR throughout the review period (2017-2023). Factors such as well-developed healthcare sector and increasing prevalence of hay fever coupled with the high per capita healthcare expenditures drive the growth in the regional market.
The allergic rhinitis market in the European region is the second largest market, globally. A well-developed healthcare sector predominantly drives the market growth. Undoubtedly, the resurging economy in Europe is playing a vital role in the growth of the allergic rhinitis market.
The Asia Pacific region is rapidly emerging as a promising market for allergic rhinitis. The region is estimated to grow rapidly over the projected period. Growing population, increasing healthcare expenditures, and rising incidences of allergic rhinitis, along with the greater awareness about this disease and its commutative treatment propel the APAC market.
Competitive Analysis
The intensely competitive allergic rhinitis market appears fragmented due to the presence of several large & small key players forming a competitive landscape.
These market players through strategic partnership, acquisition, expansion, collaboration, product & technology launch try to gain competitive advantage. Substantial investments are being made in the R&D to develop a treatment procedure that is on a different level entirely compared to their competition.
Industry, Innovation & Related News
November 12, 2018 – AstraZeneca plc (Sweden), a multinational pharmaceutical and Biopharmaceutical Company announced entering into an agreement with Covis Pharma B.V. (Sweden), a global specialty pharmaceutical company to sell AstraZeneca’s breakthrough medicine Alvesco, used to treat asthma and allergic rhinitis.
August 08, 2018 – Glenmark Pharmaceuticals Ltd. (India), announced that the Food and Drug Administration (FDA) has agreed to review New Drug Application (NDA) for Glenmark’s nasal spray – Ryaltris is indicated for seasonal allergic rhinitis in patients aged below 12 years.
Ryaltris nasal spray contains olopatadine HCl 665mcg, an antihistamine, and mometasone furoate 25mcg, a steroid.
Some Points form Table of Content
1 Report Prologue
2 Market Introduction
2.1 Introduction
2.2 Scope of Study
2.3 Research Objective
2.4 Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
..Continued
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