Healthcare and Medical

Allergic Rhinitis Treatment Market For Allergic Rhinitis Treatment Expected To Witness High Growth Owing To Rising Prevalence Of Allergies & Growing Awareness About Treatment Options

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Allergic Rhinitis Treatment Market For Allergic Rhinitis Treatment Expected To Witness High Growth Owing To Rising Prevalence Of Allergies & Growing Awareness About Treatment Options

The allergic rhinitis treatment market is estimated to be valued at US$ 14,916.9 million in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Allergic rhinitis or hay fever is caused when the body's immune system overreacts to allergens like pollen, dust mites, animal dander, or molds in the air. Common symptoms of allergic rhinitis include sneezing, nasal congestion, runny nose, and itchy eyes. The allergic rhinitis treatment market offers various products to manage symptoms like antihistamines, decongestants, nasal strips, immunotherapy, and intranasal corticosteroids. Intranasal corticosteroids are the most effective treatment option for reducing nasal symptoms and are commonly prescribed by doctors as the first line of defense.

Market Dynamics:

The growing prevalence of allergic diseases globally is a major driver boosting the allergic rhinitis treatment market growth. According to a report by American Academy of Allergy Asthma & Immunology, more than 50 million Americans suffer from allergies every year. Further, rising awareness about treatment options and frequent product innovations are also fueling the market demand. For example, in 2020, Regeneron Pharmaceuticals launched nasal spray REGN-COV2, which is aimed at treating and preventing COVID-19. Additionally, changing lifestyle and pollution levels are increasing the exposure to various allergens and thereby leading to a rising incidence of allergic rhinitis, particularly in urban areas.

Segment Analysis

The Allergic Rhinitis Treatment Market Size is segmented into medication, immunotherapy and others. Amongst these, the medication segment dominates the market owing to the increasing prevalence of allergic rhinitis across the globe. Medication involves both prescription medications like antihistamines and decongestants and over-the-counter drugs to provide relief from symptoms. The medication segment is further divided into antihistamines, intranasal corticosteroids, leukotriene receptor antagonists and mast cell stabilizers.

PEST Analysis

Political: Governments across countries are raising awareness about allergic rhinitis through campaigns and increasing insurance coverage for its treatment which is positively impacting the market growth.

Economic: Rise in disposable income levels have increased the affordability of advanced treatment options for allergic rhinitis in developing nations, driving the market.

Social: Growing incidence of allergic disorders due to changing lifestyle and environmental conditions is increasing the social and economic burden related to allergic rhinitis treatment.

Technological: Companies are investing in R&D to develop more effective drugs with novel mechanisms of action and comfortable drug delivery forms like sublingual tablets to improve treatment outcomes.

Key Takeaways

The global allergic rhinitis treatment market is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing environmental pollution and adoption of western lifestyles across emerging countries. Regionally, North America accounted for the largest market share in 2021 owing to the presence of major players and continuously rising disease incidence in the US and Canada. Key players operating in the allergic rhinitis treatment market are Merck & Co., Inc., Boehringer Ingelheim International GmbH, AstraZeneca, GSK plc., Johnson & Johnson Services, Inc. Teva Pharmaceutical Industries Ltd., Novartis AG, Mylan N.V., Aytu BioPharma, Inc., Glenmark Pharmaceuticals Ltd, Himalaya Wellness Company, Regeneron Pharmaceuticals Inc., Allergy Therapeutics, Stallergenes Greer, Bayer AG, Dr. Reddy’s Laboratories Ltd, ALK-Abelló A/S, and Revolo Biotherapeutics.

Regional analysis shows that the Asia Pacific region is expected to witness the fastest growth during the forecast period due to rising awareness, healthcare infrastructure development and growing expenditure on prescription drugs in China and India.

Key players operating in the allergic rhinitis treatment market are focusing on new product launches and partnerships with local players to strengthen their presence in developing markets. For instance, Merck & Co. launched a new digital therapeutics solution Clarify for allergic rhinitis in 2021.

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Allergic Rhinitis Treatment Market Growth Accelerated by Rise in Autoimmune Diseases

ashwini bakhade 2024-01-30

0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Thus, the increasing incidence of autoimmune diseases including allergic rhinitis is anticipated to boost the demand for allergic rhinitis treatment drugs and devices over the forecast period. Segment AnalysisIntranasal corticosteroids is the dominating sub-segment in the allergic rhinitis treatment market. Key TakeawaysThe Global Allergic Rhinitis Treatment Market Size is expected to witness high growth during the forecast period owing to rising pollution levels, increasing prevalence of allergic diseases and growing older population. Key players: Key players operating in the allergic rhinitis treatment market are ABB, Emerson Electric Co.

Allergic Rhinitis Treatment Market growth is driven by growing pollution worldwide

naufan003 2024-03-20

The global allergic rhinitis treatment market is estimated to be valued at US$ 20. Growing pollution levels and lack of air quality standards in developing nations is driving greater demand for allergic rhinitis treatment solutions. Current Geopolitical Situation and Its Impact on Allergic Rhinitis Treatment Market Growth The ongoing geopolitical tensions and conflicts across various regions have significantly impacted the growth of the allergic rhinitis treatment market in recent years. Geographical Regions of Concentrated Value in Allergic Rhinitis Treatment Market The allergic rhinitis treatment market in terms of value is highly concentrated in developed regions of North America and Europe. Fastest Growing Region in Allergic Rhinitis Treatment Market The Asia Pacific region, particularly China and India, is poised to be the fastest growing market for allergic rhinitis treatment during the forecast period from 2024-2031.

The Allergic Rhinitis Treatment Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Allergic Rhinitis

Poonam 2023-11-06

The allergic rhinitis treatment market is estimated to be valued at US$ 18. Weakness: Allergic rhinitis treatment mainly controls symptoms and does not provide a permanent cure. Growing geriatric population prone to allergic conditions increases the scope for allergic rhinitis treatment. Key Takeaways The global Allergic Rhinitis Treatment Market Share is expected to witness high growth, exhibiting CAGR of 4. Key players: Key players operating in the allergic rhinitis treatment market are Merck & Co.

Key Players and Innovations Shaping the Allergic Rhinitis Treatment Market

savi jadhav 2023-07-24

Key Players in the Allergic Rhinitis Treatment Market:GlaxoSmithKline (GSK): GSK is a pharmaceutical giant with a strong presence in the allergic rhinitis treatment market. Sanofi: Sanofi is a leading player in the global allergy market, offering various allergy medications and immunotherapies. : Merck is at the forefront of allergic rhinitis treatment with its popular antihistamine medications and nasal corticosteroids. By blocking key molecules, biologics offer more targeted and long-lasting relief from allergic rhinitis symptoms, reducing the need for frequent medication use. The allergic rhinitis treatment market is experiencing a transformative phase, driven by key players' dedication to research and development and their focus on patient-centric innovations.

Allergic Rhinitis Treatment Market Growth Influenced by Burgeoning Opportunities from Prime Applications

Dino Rozi 2023-09-21

As the prevalence of allergic rhinitis continues to rise, the demand for effective treatment options has never been higher. In this article, we'll delve into the Allergic Rhinitis Treatment Market, examining the key components, current trends, and the importance of addressing this chronic condition. Effective treatment options are essential to managing these symptoms and improving the lives of those with allergic rhinitis. Key Components of the Allergic Rhinitis Treatment MarketMedications: The cornerstone of allergic rhinitis treatment, medications include antihistamines, decongestants, corticosteroids, and leukotriene modifiers. The future of the allergic rhinitis treatment market holds promise.

Allergic Rhinitis Market Growth Outlook Through 2024-2033

Uday Kiran 2024-04-01

The allergic rhinitis market size is expected to see steady growth in the next few years. The regions covered in allergic rhinitis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Key Industry PlayersMajor players in the allergic rhinitis market are Merck and Co. The allergic rhinitis market report table of contents includes:Executive Summary Allergic Rhinitis Market Characteristics Allergic Rhinitis Market Trends And Strategies Allergic Rhinitis Market - Macro Economic ScenarioGlobal Allergic Rhinitis Market Size and Growth. Global Allergic Rhinitis Market Competitive BenchmarkingGlobal Allergic Rhinitis Market Competitive DashboardKey Mergers And Acquisitions In Allergic Rhinitis Market Allergic Rhinitis Market Future Outlook and Potential AnalysisAppendix Top Major Players :Merck and Co.

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