Allergic Rhinitis is an allergic reaction caused due to the presence of allergen bacteria such as Pollen. Itchy nose & eyes, frequent inflammation of the nose, sneezing, nasal clogging, mucus in the throat, and a runny nose are some of the prominent symptoms led by the Allergic Rhinitis. This condition is contagious and affects the human respiratory system, severely.
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Hence, at the starting of every allergic rhinitis season, Health & Prevention Ministries, worldwide not only release alert to their respective citizens but also take up various programs to provide comprehensive and integrated healthcare as part of community wellness strategy.
The global allergic rhinitis market is well established with a range of novel treatments available to treat the condition. The size of the market is ever-increasing. Moreover, factors such as the proliferation of FDA-approved rapid diagnostic and testing methodologies escalate the market on the global platform.
Acknowledging the exponential accruals, the market is garnering currently, Market Research Future (MRFR) in its recently published analysis asserts that the size of the global allergic rhinitis market will reach USD 15 BN by 2023, posting approximately 7% CAGR throughout the assessment period (2017 – 2023).
Additional factors that are supporting the market include the prevalence of Allergic Rhinitis and Hay Fever and recent advances in medical science. Also, the increasing number of patients suffering from various types of allergies and rising demand and rapid adoption of different treatment methods to treat allergic rhinitis are spurring market growth. Additionally, increasing R&D activities, clinical trials, and new approvals among others provided an added impetus to the growth of the market.
The increasing number of collaborations between market players, hospitals and independent research centers are in turn, driving the market growth, bringing about many novel treatments and devices.
Simultaneously, increasing uptake of allergic rhinitis treatments along with the spreading awareness towards the availability and benefits of new treatment procedures fosters the growth of the market, increasing the success rate.
On the flip side, factors such as incidents of diagnostic products resistance and hospital-acquired allergies are expected to restrict the growth of the Allergic Rhinitis Market. Also, unmet clinical needs, especially in underdeveloped regions, are impeding market growth. Nevertheless, advancements in biotechnology alongside the planned Government initiatives are expected to support the growth of the market over the forecast period.
Global Allergic Rhinitis Market – Segments
For ease of understanding, the market is segmented into four key dynamics: –
By Type : Seasonal, Perennial, and Non-allergic rhinitis among others.
By Treatment : Decongestants (Afrin nasal spray, Sudafed, Sudafed PE, and Zyrtec-D), Antihistamines (Allegra, Clarinex, Xyzal & Zyrtec), Eye drops, Nasal sprays, and others (immunotherapy, sublingual immunotherapy (SLIT) & home remedies).
By Test : IgE RAST Test, Skin Test, Complete Blood Count, and others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World (RoW).
Global Allergic Rhinitis Market – Regional Analysis
The North American region, heading with a well-developed healthcare sector and increasing prevalence of hay fever, dominate the global allergic rhinitis market with a significant market share. Factors such as the higher per capita healthcare expenditures and the well-spread awareness towards the diseases and the availability of various effective treatments drive the regional market. Continuing with the same trends, the allergic rhinitis market in North America is expected to create a larger revenue pocket throughout the review period (2017-2023).
The European allergic rhinitis market accounts for the second largest market, globally. Factors such as the presence of a proliferated healthcare sector and many key players drive the growth in the regional market, predominantly. Also, the resurging economy in the region is also a dominant factor fostering the regional market, phenomenally. Furthermore, the flourishing medical device industry in Germany led by the availability of advanced technology contributes to the growth of the regional market.
The allergic rhinitis market in the Asia Pacific region is rapidly emerging as a promising market, globally. Factors such as the large technological advancements and a rapidly developing economy that is increasing healthcare expenditures are predominantly fostering the growth in the regional market. Furthermore, rising incidences of allergic rhinitis alongside the spreading awareness about this disease and its commutative treatment propel the growth of the allergic rhinitis market in the APAC region.
Global Allergic Rhinitis Market – Competitive Landscape
Highly competitive, the allergic rhinitis market appears to be fragmented with several large & small key players forming a competitive landscape. These players incorporate strategic initiatives such as partnership, acquisition, expansion, product & technology launch, and collaboration to gain an edge over their competitors. They invest substantially in R&D to develop a medical device or treatment procedure using advanced techniques.
Major Players:
Key players leading the global allergic rhinitis market include GSK (UK), Merck (US), Sanofi (France), Himalaya (India), Cigna (USA), J&J (US), FaesFarma (Spain), Chong Kun Dang Pharmaceutical Corp. (South Korea), Glenmark Pharmaceutical (India), Hisamitsu Pharmaceutical Co.in (Japan), Olain Farm (Lavtvia), and Ampio pharmaceutical Inc. (US) among others.
Industry, Innovation & Related News
March 04, 2019 —– Stryker Corporation (the US), a leading global medical technologies firm announced the acquisition of Arrinex, Inc. (the US), a medical device company, developing medical procedure used in patients with refractory chronic rhinitis. Through this acquisition, Stryker plans to extend its offerings using Arrinex’s FDA-approved cryoablation device to treat chronic adult rhinitis.
Stryker also confirmed that it would continue to acquire firms and technologies needed to fill gaps in its offerings. This acquisition also aligns with Stryker focus on providing ENT physicians with new technologies that deliver more treatment options and better patient outcomes.
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