The Allergic Rhinitis Drugs Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Allergic Rhinitis Drugs Global Market Report 2024, The allergic rhinitis drugs market size has grown steadily in recent years. It will grow from $14.99 billion in 2023 to $15.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to rising awareness about allergic reactions and available treatment modes, increasing prevalence of allergic rhinitis, heightened demand for effective drugs, and the popularity of over-the-counter (OTC) allergy medications.
The allergic rhinitis drugs market size is expected to see steady growth in the next few years. It will grow to $18.78 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to growing pollution levels coupled with a rise in respiratory disorders, increasing environmental pollution, changing climatic conditions, a rise in the number of individuals suffering from allergies, and rising awareness about allergic reactions and available treatment modes. Major trends in the forecast period include technological developments in treatment methods, the development of new antihistamines, technological advances in allergy rhinitis diagnostics, advancements in the field of allergy treatment, increase in research and development of new therapies.
The rise in respiratory disorders are expected to propel the growth of the allergic rhinitis drug market going forward. Respiratory disorders encompass a range of conditions affecting the lungs and airways. The rise in respiratory disorders is primarily due to increased exposure to environmental pollutants, such as air pollution and allergens, combined with factors such as climate change and higher rates of respiratory infections. Allergic rhinitis drugs help manage respiratory disorders by reducing inflammation and symptoms caused by allergens, such as nasal congestion and sneezing, thereby improving overall respiratory function. For instance, in April 2024, according to the Centers for Disease Control and Prevention, a US-based governmental organization, the percentage of adults suffering from current asthma increased from 8.0% in 2021 to 8.9% in 2023. Therefore, the rise in respiratory disorders are driving growth in the allergic rhinitis drug market.
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The allergic rhinitis drugs market covered in this report is segmented –
1) By Disease: Seasonal Allergic Rhinitis, Perennial Allergic Rhinitis, Occupational Allergic Rhinitis
2) By Treatment: Antihistamines, Immunotherapy, Corticosteroids, Decongestants, Other Treatments
3) By Route Of Administration: Oral, Nasal, Intraocular, Intravenous
4) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Channel
Major companies operating in the allergic rhinitis drug market are focusing on developing novel treatment approaches, such as novel fixed-dose treatments, to gain a competitive edge. Novel fixed-dose treatments are innovative medications that combine multiple active ingredients into a single, pre-measured dose to enhance efficacy, simplify administration, and improve patient adherence. For instance, in May 2021, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company, launched Ryaltris-AZ Nasal Spray, a novel fixed-dose combination of Mometasone Furoate 50 mcg and Azelastine 140 mcg, for the treatment of moderate to severe allergic rhinitis in India. It offers advantages over oral therapies because it delivers higher concentrations of the drugs directly to the source of the allergic inflammation, with a reduced risk of systemic side effects.
The allergic rhinitis drugs market report table of contents includes:
1. Executive Summary
2. Allergic Rhinitis Drugs Market Characteristics
3. Allergic Rhinitis Drugs Market Trends And Strategies
4. Allergic Rhinitis Drugs Market – Macro Economic Scenario
5. Global Allergic Rhinitis Drugs Market Size and Growth
…
32. Global Allergic Rhinitis Drugs Market Competitive Benchmarking
33. Global Allergic Rhinitis Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Allergic Rhinitis Drugs Market
35. Allergic Rhinitis Drugs Market Future Outlook and Potential Analysis
36. Appendix
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