Allergic Rhinitis Drug Market REPORT OVERVIEW
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The global allergic rhinitis drug market size was USD 3707.99 million in 2021 and market is projected to touch USD 7329.1 million by 2031, at a CAGR of 7.05% during the forecast period.
Hay fever, also known as allergic rhinitis, is an inflammation of the nose's inside brought on by an allergic reaction to microscopic airborne particles known as allergens. Because the symptoms of allergic rhinitis resemble those of a cold, such as sneezing, itching, blocked or runny nose, etc., it is sometimes referred to as having cold-like symptoms. Allergy rhinitis results from an immunological response to a certain type of allergen. This reaction causes the mucous membrane of the nose to release a variety of chemicals, which causes the nose to swell and produce an excessive amount of mucus. Pollen, spores, house dust mites, flakes of skin, or droplets of saliva or urine from a particular animal are just a few allergens that can lead to allergic rhinitis. Hay fever is the term used to describe allergic rhinitis brought on by pollen.
The global market for medications for allergic rhinitis drug is expected to develop as people's awareness of allergic reactions among themselves rises. The expansion is being fueled by the availability of numerous drug administration methods provided by drug producers. The market is also predicted to grow as a result of the wide range of medications and nasal sprays produced for the efficient treatment of allergic rhinitis.
COVID-19 Impact: The Foot Restrictions Led to the Downfall of the Market
The COVID-19 pandemic has a substantial influence on healthcare systems and healthcare providers (HCPs) who treat allergic patients. Healthcare personnel should take the appropriate precautions during the pandemic since allergic conditions are very common. For instance, a Wiley Online Library article from January 2022 claimed that Allergen Immunotherapy (AIT) for food, insect venom, and respiratory allergies was one of the therapeutic techniques that affected health care professionals (HCPs) who provided care to allergic patients throughout the pandemic. 93% of healthcare professionals noticed a decrease in face-to-face visits, and nearly a quarter entirely halted diagnostic challenges. As a result, the COVID-19 pandemic had a negative impact on healthcare workers and allergic rhinitis drug market share.
LATEST TRENDS
"The Innovative Launch Of Immunotherapy Novel Products to Inflate the Market Demand"
The allergic rhinitis drug market share is being severely impacted by the increased emphasis on R&D for the creation of novel products to address significant unmet medical requirements. The most popular and successful type of allergen immunotherapy is subcutaneous immunotherapy (SCIT). SCIT is the only therapy available right now that modifies immune systems and provides systemic relief. SCIT aids in halting the progression of new allergies and asthma attacks.
The main drivers of the market of allergic rhinitis drug are the novel immunotherapy medication launches and increased approval. To demonstrate SCIT safety and effectiveness in the adult and paediatric populations, numerous research studies are carried out. Subcutaneous allergen-specific immunotherapy (SCIT) is one of the primary pillars in the management of allergic rhinitis in paediatric patients, according to a June 2021 Karger Journal article titled "Subcutaneous Allergen-Specific Immunotherapy Is Safe in Pediatric Patients with Allergic Rhinitis." It is both secure and efficient. Therefore, it is anticipated that this research study will fuel growth during the forecasted era. Thus, it is anticipated that the prevalence of allergies and the expanding use of immunotherapy will fuel allergic rhinitis drug market growth.
Allergic Rhinitis Drug Market SEGMENTATION
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- By Type
Based on type; the allergic rhinitis drug market is divided into intranasal anthistamines, intranasal corticosteroids, oral antihistamines, immunotherapy and vaccines and others.
- By Application
Based on the application; the allergic rhinitis drug market is divided into non-allergic rhinitis, mixed rhinitis, seasonal allergic rhinitis, perennial allergic rhinitis and others.
DRIVING FACTORS
"The Trend of Self Medication to Multiply the Drug Utilization"
In both industrialised and emerging nations, the practise of self-medication has become more and more prevalent. As a result, over-the-counter (OTC) medicine demand increased over the past ten years. Because they are more affordable and easily accessible, OTC medications are bought more frequently. During the anticipated period, all of these variables are anticipated to drive the market.
"Increasing Air Pollution and Climate Change to Enhance the Market Demand"
The market is anticipated to increase at a rapid rate over the forecast period due to rising air pollution and climate change. As an example, a research paper claiming that patients with allergic rhinitis exposed to pollution and climate change have significant negative health effects was published in March 2020 on ScienceDirect, a website that provides access to a large bibliographic database of scientific and medical publications of the Dutch publisher Elsevier. As inflammatory responses are triggered and inflammatory cells such cytokines and interleukins are recruited, allergic rhinitis symptoms are becoming more severe.
RESTRAINING FACTORS
"The Termination of Clinical trial Study and Low-Cost Biosimilar to Restrain the Market"
The termination of the clinical trial study is among the key reasons that is anticipated to impede the expansion of the global market for treatments for allergic rhinitis. For example, a clinical trial of Tree MATA MPL or Tree MATA immunotherapy for allergic rhinitis and type I hypersensitivity I was stopped in November 2022 because of insufficient subject enrollment. The market for medications for allergic rhinitis could, however, experience significant challenges due to the rising desire for inexpensive biosimilars and a lack of knowledge about allergy immunotherapy.
Allergic Rhinitis Drug Market REGIONAL INSIGHTS
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"North America to Lead the Market with Well Established Health Infrastructure and Prominent Manufacturers"
With the largest market share, North America is likely to continue to dominate the industry over the course of the projection period. Nearly half of food-allergic adults reported having at least one adult-onset food allergy, and 38% said they had ever visited an ER because of a food allergy. The market for allergy treatments is boosted by the rising number of allergic reactions, which necessitate enough attention for proper treatment. Sesame was the ninth most frequent food allergy in the US, according to the American Academy of Allergy Asthma & Immunology. This prevalence is extremely high, and it is expected to rise in the next years. Additionally, a large number of medications are being developed in the US, primarily to treat diverse allergy kinds. Market players are concentrating on the creation and introduction of new products. Thus, such factors can lead to sustainable growth over the forecast period.
KEY INDUSTRY PLAYERS
"Key Industry Players to Promote the Market Expansion"
The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market.
List of Market Players Profiled
- Dymista (U.S.A)
- Nasacort (U.S.A)
- Allegra (U.K)
- Flixonase (New Zealand)
- Ebastel (U.A.E)
- Claritin (Germany)
- Talion (U.K).
REPORT COVERAGE
This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 3707.99 Million in 2021 |
Market Size Value By |
US$ 7329.1 Million by 2031 |
Growth Rate |
CAGR of 7.05% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the allergic rhinitis drug market expected to touch by 2031?
The global allergic rhinitis drug market is projected to touch USD 7329.1 million by 2031.
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What CAGR is the allergic rhinitis drug market expected to exhibit by 2031?
The allergic rhinitis drug market is expected to exhibit a CAGR of 7.05% by the forecasted year 2031.
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What are the driving factors of the allergic rhinitis drug market?
The trend of self medication and increasing pollution resulting climate change are the driving factors of the allergic rhinitis drug market.
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Which are the top companies operating in the allergic rhinitis drug market?
GlaxoSmithKline, Sanofi, ALK-AbellA, Meda Pharmaceuticals, Adamis Pharmaceuticals, Allergy Therapeutics, Almirall, Ampio, AstraZeneca, Amneal Pharmaceuticals, Anergis, Apotex, Array BioPharma, Aspen Pharmacare, Circassia Pharmaceuticals, Dr Reddys Laboratories, Eddingpharm, EMS, HAL Allergy, Inmunotek, Genentech, Greer Laboratories, Glenmark Pharmaceuticals, Hanmi Pharmaceuticals, Hisamitsu Pharmaceutical, Intas Pharmaceuticals, Novartis and others are the top companies operating in the allergic rhinitis drug market.