Future Growth: Allergic Rhinitis Drugs Market Sees Promising Growth in 2019
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Higher prevalence and incidence of allergic rhinitis among people is expected to drive the allergic rhinitis drugs market during the forecast period. According to a report of the World Allergy Organization, in 2015, around 400 million people suffered from allergic rhinitis across the globe. The introduction of new drugs and nasal sprays for allergic rhinitis is expected to drive the allergy rhinitis drugs market. However, the availability of generic drugs and side effects of allergy rhinitis drugs, such as dry mouth, drowsiness, constipation, agitation, urinary retention, etc., are anticipated to hamper the market in the coming years.
Based on drug class, the global allergic rhinitis drugs market can be classified into oral antihistamines, intranasal corticosteroids, immunotherapies, intranasal antihistamines, and other allergic rhinitis drugs. The oral antihistamines segment is projected to account for a significant share of the market in the near future, as oral antihistamines effectively work to treat allergic rhinitis symptoms with their longer duration of action. Moreover, the new generation of oral antihistamines are less likely to cause side effects. In terms of disease, the allergic rhinitis drugs market can be segmented into seasonal allergic rhinitis, perennial allergic rhinitis, and occupational rhinitis. The perennial allergic rhinitis segment is expected to expand during the forecast period because the symptoms of allergic rhinitis are present throughout the year. Based on route of administration, the market can be categorized into oral and nasal. The oral segment is expected to expand in the coming years, as the oral route of administration is convenient and makes the drugs more bioavailable. In terms of distribution channel, the allergic rhinitis drugs market can be categorized into hospital pharmacies, retail pharmacies, and others. The retail pharmacies segment is expected to constitute a considerable share of the market during the forecast period. This is because nowadays many brands of antihistamines are available over the counter, and patients can buy them easily without a doctor’s prescription. Patients prefer to visit retail pharmacies and buy drugs from retail pharmacies for their convenience.
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In terms of region, the global allergic rhinitis drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market. The region is projected to account for a significant share of the global allergic rhinitis drugs market during the forecast period due to high incidence of allergic rhinitis in countries such as the U.S. and Canada. According to the American College of Allergy, Asthma, & Immunology, every year, 40 to 60 million people are effected by allergic rhinitis in North America. According to the European Academy of Allergy and Clinical Immunology, in 2016, more than 150 million people were effected by chronic allergic diseases in Europe. By 2025, the affected population is expected to more than double. An increase in the affected population in Europe is creating demand for drugs to treat allergic rhinitis. This is anticipated to drive the allergic rhinitis drug market in Europe. Rise in the prevalence of allergic rhinitis and launch of new drugs to treat the condition are estimated to propel the allergic rhinitis drugs market in Asia Pacific.
Major players operating in the global allergic rhinitis drugs market include GlaxoSmithKline, Merck & Co., Sanofi, Johnson & Johnson, Dr. Reddy’s Laboratories, Allergy Therapeutics, Mylan NV, Sun Pharmaceuticals, Pfizer Inc., and Stallergenes Greer.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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