Burlingame, March 03, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global allergic rhinitis treatment market is estimated to be valued at US$ 14,916.9 million in 2022 and is expected to exhibit a CAGR of 4.1% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Allergic Rhinitis Treatment Market:
Major players operating in the market are focusing on adopting strategies such as collaboration, which is expected to drive the market growth over the forecast period. For instance, in January 2022, Stallergenes Greer, one of the global healthcare companies specializing in allergen immunotherapy (AIT), announced that it had entered into a research collaboration with Imperial College London, one of the world's leading universities, to discover biomarkers of allergen immunotherapy (AIT) to address the needs of patients with allergies.
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Allergic Rhinitis Treatment Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2022: | US$ 14,916.9 Mn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 4.1% | 2030 Value Projection: | US$ 20,595.6 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | 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 | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Key Market Takeaways:
The global allergic rhinitis treatment market is expected to exhibit a CAGR of 4.1% during the forecast period due to increasing product approval by different regulatory authorities such as U.S. Food and Drug Administration or The European Commission. This is expected to fuel demand for allergic rhinitis treatment and drive the market growth over the forecast period. For instance, in June 2019, ALK-Abelló A/S, a pharmaceutical company, announced that it had completed the marketing authorization procedure for ITULAZAX, a tree sublingual allergy immunotherapy (SLIT) tablet in 17 European countries. ITULAZAX is indicated in adult patients for the treatment of moderate-to-severe allergic rhinitis and/or conjunctivitis.
Among Distribution Channel, the Retail Pharmacies segment is estimated to hold a dominant position in the global allergic rhinitis treatment market over the forecast period, owing to the guideline-compliant advice provided by pharmacy assistants for allergic rhinitis. For instance, in December 2021, a research article published by ScienceDirect, according to which, most pharmacies provided appropriate advice for a condition-based request for allergic rhinitis.
Among region, North America is expected to hold a dominant position over the forecast period, owing to the increasing the U.S. Food and Drug Administration approval for a nasal antihistamine. For instance, in June 2021, the U.S. Food and Drug Administration, a federal agency that belongs to the U.S. Department of Health and Human Services, announced the approval of Astepro (azelastine hydrochloride), a nasal antihistamine, indicated for seasonal and perennial allergic rhinitis manufactured by Bayer AG, a pharmaceutical and biotechnology company.
Competitive Landscape:
Key players operating in the global allergic rhinitis treatment include 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, Revolo Biotherapeutics among other prominent players
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Market Segmentation:
- Global Allergic Rhinitis Treatment Market, By Treatment Type:
- Immunotherapy
- SCIT
- SLITD
- SLITT
- Anti-histamines
- Decongestants
- Leukotriene Receptor Antagonists
- Corticosteroids
- Immunotherapy
- Global Allergic Rhinitis Treatment Market, By Route of Administration:
- Oral
- Nasal
- Intraocular
- Intravenous
- Global Allergic Rhinitis Treatment Market, By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- E-commerce
- Global Allergic Rhinitis Treatment Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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