Allergic Rhinitis Treatment Market Overall Study Report 2021-2028 | Merck & Co., Boehringer Ingelheim, AstraZeneca, GlaxoSmithKline PLC

Global Allergic Rhinitis Treatment Market

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:-

Perennial; e.g. house dust mite, pets, and molds

Seasonal; e.g. pollens

Occupational; e.g. mice for laboratory workers, or chemicals

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.

Drivers

Extensive R&D activities for innovative diagnostic methods is expected to propel growth of the global allergic rhinitis treatment market during the forecast period. Researchers at the Technical University of Munich, for instance, confirmed the development of a new diagnostic procedure that utilizes a nasal smear as a screening test for allergic rhinitis in April 2020.

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Opportunities

For companies in the global allergic rhinitis treatment market, R&D in allergic rhinitis is expected to provide significant growth opportunities. For instance, researchers from Chungbuk National University Hospital in South Korea reported in May 2020 that NVP-1703 (a mixture of Bifidobacterium longum and Lactobacillus plantarum) treatment shortened urinary prostaglandin F2 and leukotriene E4 levels, suggesting that NVP-1703 could be used to treat perennial allergic rhinitis.

Restraints

The global allergic rhinitis treatment market is predicted to expand slowly due to a lack of new entrants. The entry of new market participants in the global allergic rhinitis treatment market is restricted by stringent regulatory regulations, high R&D expenditure, and extensive clinical trials required for the launch of new medications in the market.

Key Takeaways

The global allergic rhinitis treatment market was worth US$ 13,450.3 million in 2019 and is expected to grow at a CAGR of 3.6% to US$ 17,863.6 million by 2027. Increasing prevalence of allergic rhinitis and the number of treatment choices are two major factors driving the global allergic rhinitis treatment market over the forecast period.

The oral method of administration held dominant position in the global allergic rhinitis treatment market in 2019, accounting for 48.4% of the market, followed by nasal and intravenous, respectively. In comparison to intranasal and intravenous medications, oral medications are simple to deliver and consume by patients.

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Market trends

The global allergic rhinitis therapy market is expected to benefit from R&D in allergic rhinitis. For instance, in July 2018, researchers from the Helmholtz Zentrum München and the University of Copenhagen reported discovering risk genes that can describe around 8% of all allergic rhinitis occurrences.

Generic medications for the treatment of allergic rhinitis are being approved and launched in the market. Unichem Laboratories, for instance, gained provisional approval from the US Food and Drug Administration (FDA) in May 2019 for its generic version of Johnson & Johnson Consumer Inc.'s Zyrtec-D 12 Hour, which is used to cure allergic rhinitis.

Competitive Landscape

Major companies operating in the global allergic rhinitis treatment market include, AstraZeneca, Johnson & Johnson, Boehringer Ingelheim, Teva Pharmaceutical Industries Ltd., Merck & Co., ALK, Glenmark Pharmaceuticals Ltd., Alcon (Novartis AG), Mylan, GlaxoSmithKline PLC, Sanofi S.A., Unichem Laboratories, and Innovus Pharmaceuticals, Inc.

Key Developments

June 2018: AllerVarx was launched in Canada by Innovus Pharmaceuticals, Inc. for the treatment of allergic rhinitis.

February 2018: In France, ALK announced that their sublingual allergy immunotherapy tablet ACARIZAX for adults suffering from house dust mite allergic rhinitis and allergic asthma.

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