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Allergic Rhinitis Market Report 2024: Strategies And Recent Developments | Merck and Co. Inc., Bayer AG, Novartis AG, Sanofi-Aventis LLC., AstraZeneca PLC
Allergic Rhinitis Market Trend
The Business Research Company offers in-depth market insights through Allergic Rhinitis Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of allergic rhinitis are seasonal allergic rhinitis, perennial allergic rhinitis and occupational allergic rhinitis. Seasonal allergic rhinitis (SAR) refers to a kind of allergic rhinitis that is characterized by the rapid and repeatable onset and resolution of symptoms like allergic reactions linked to pollen exposure. The various treatments include antihistamines, corticosteroids, immunotherapy, decongestants, others with various tests such as skin tests, IgE radioallergosorbent test and complete blood count. The various routes of administration include oral, nasal and others. These are distributed through various distribution channels such as hospital pharmacies, retail pharmacies and online stores.
Allergic Rhinitis Global Market Report 2023 provides data on the global allergic rhinitis market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors' revenues, profiles and market shares. The allergic rhinitis market report identifies opportunities and strategies based on market trends and leading competitors' approaches.
Major Driver - Air Pollution And Climate Change Fueling Growth In The Allergic Rhinitis Market
High levels of air pollution and climate change are expected to propel the growth of the allergic rhinitis market going forward. Air pollution refers to the presence of harmful substances in the Earth's atmosphere that can adversely affect human health, the environment and the quality of the air we breathe. Climate change refers to long-term alterations in the Earth's climate patterns, including temperature, precipitation and other climatic factors. Air pollution has been increasingly recognized as a significant environmental factor contributing to the prevalence and worsening of allergic rhinitis, highlighting the intricate relationship between air quality and respiratory health. For instance, in September 2022, according to the World Bank, a US-based financial institution, it was estimated that the cost of the health damage caused by air pollution would amount to $8.1 trillion a year, equivalent to 6.1% of global GDP. Therefore, high levels of air pollution and climate change drive the allergic rhinitis market.
Competitive Landscape:
Major players 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.
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Top Trend - Advancements In Treating Nasal And Ocular Symptoms Of Allergic Rhinitis
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Allergic Rhinitis Market Characteristics
3. Allergic Rhinitis Market Trends And Strategies
4. Allergic Rhinitis Market - Macro Economic Scenario
5. Allergic Rhinitis Market Size And Growth
…..
27. Allergic Rhinitis Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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