Press release
Allergic Rhinitis Market trends, Top Companies, Share, Growth And Forecast 2033
Allergic Rhinitis Market
The Business Research Company's Allergic Rhinitis Global Market Report 2023 identifies the increase in corticosteroid treatment for allergic rhinitis as the major driver for the allergic rhinitis market's growth in the forecast period. Corticosteroid treatment, often simply referred to as steroid treatment, involves the use of medications known as corticosteroids or simply steroids. Corticosteroids are commonly used in the treatment of allergic rhinitis because they help reduce inflammation in the nasal passages and relieve the symptoms associated with the condition.
The allergic rhinitis market size has grown steadily in recent years. It will grow from $14.57 billion in 2023 to $15.22 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to allergen exposure, environmental changes, public awareness, incresing pollution, research and developments on allergic rhinitis, rising disposable incomes. The allergic rhinitis market size is expected to see steady growth in the next few years. It will grow to $17.62 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to demand for preventive treatments, aging population, urbanization, health care spending. Major trends in the forecast period include biologics and monoclonal antibodies, digital health solutions, allergen avoidance strategies, pediatric allergic rhinitis, allergen detection technology.
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Major competitors in the allergic rhinitis market are Merck and Co. Inc., Bayer AG, Novartis AG, Sanofi-Aventis LLC., AstraZeneca PLC, GlaxoSmithKline plc., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., UCB S.A., Sun Pharmaceutical Industries Limited, Menarini Group, Perrigo Company PLC, Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Cipla Limited, Endo Pharmaceuticals Inc., Zydus Lifesciences Ltd., Lupin Limited, Glenmark Pharma Ltd., Almirall S.A., Kyowa Kirin Co. Ltd., Hanmi Pharmaceutical Co. Ltd., Akorn Inc.
A key trend in the allergic rhinitis market includes technological advancement. Major companies operating in the allergic rhinitis market are developing innovative medications to sustain their position in the market. For instance, in August 2022, Hikma Pharmaceuticals PLC, a UK-based pharmaceutical company and Glenmark Specialty S.A., a Switzerland-based pharmaceutical company, unveiled approval for their product Ryaltris by the United States Food and Drug Administration (FDA), a US-based federal agency. Ryaltris is the first fixed-dose combination drug that treats nasal and ocular symptoms of seasonal allergic rhinitis in a convenient nasal spray for adult and pediatric patients 12 years of age and older. Within 15 minutes of taking the first dose, the relief of nasal symptoms starts to take effect.
Read More On The Global Allergic Rhinitis Market Report Here:
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The allergic rhinitis market is segmented -
• By Type: Seasonal Allergic Rhinitis, Perennial Allergic Rhinitis, Occupational Allergic Rhinitis
• By Treatment: Antihistamines, Corticosteroids, Immunotherapy, Decongestants, Other Treatments
• By Test: Skin Test, IgE Radioallergosorbent (RAST) Test, Complete Blood Count
• By Route Of Administration: Oral, Nasal, Other Route Of Administration
• By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Stores
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the allergic rhinitis market.
The Business Research Company's "Global Allergic Rhinitis Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Allergic Rhinitis Market Include:
1. Executive Summary
2. Allergic Rhinitis Market Characteristics
3. Allergic Rhinitis Market Trends And Strategies
4. Allergic Rhinitis Market - Macro Economic Scenario
……
32. Global Allergic Rhinitis Market Competitive Benchmarking
33. Global Allergic Rhinitis Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Allergic Rhinitis Market
35. Allergic Rhinitis Market Future Outlook and Potential Analysis
36. Appendix
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