Newark, April 22, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 163.2 billion loratadine market will reach USD 221.4 billion by 2033. Loratadine is an antihistamine drug. All types of allergies are treated with it. Among other things, it helps treat rashes, edoema, and irritation. Because they don't have soothing or central nervous system side effects, loratadine and other second-generation antihistamines are usually better than first-generation antihistamines in clinical settings. The market for loratadine is driven by both a rise in allergies to the sources of histamine hypersecretion and lifestyle changes. According to the American Academy of Allergy, Asthma, and Immunology (AAAI) estimates, up to 40% of individuals are susceptible to environmental foreign proteins. The global incidence of allergies, evolving lifestyles, and a supportive regulatory environment are key factors propelling the market's potential for growth. The American Academy College of Allergy, Asthma & Immunology anticipated that 10% and 30% of people globally will have allergic rhinitis in 2021.
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Key Insight of the Loratadine Market
North America will account for the largest market size during the forecast period.
North America is expected to have the essential loratadine market share. The region's high disease burden and numerous manufacturers are projected to fuel market expansion. The area is experiencing a rise in seasonal and perennial allergies, driving up demand for antihistamine drugs like loratadine. The potential for regional revenue growth is predicted to be boosted by the rise in allergy awareness among the general public and consumer preference for non-drowsy formulations.
The USP standard grade segment dominated the market with the most significant revenue of USD 55.4 billion.
The USP standard grade segment dominated the market with the most significant revenue of USD 55.4 billion. The USP standard grade heavily emphasises conforming to quality and safety regulations to increase customer preference and adoption rates.
The tablets segment dominated the market with the most significant revenue of USD 52.2 billion.
The tablets segment dominated the market with the most significant revenue of USD 52.2 billion. Throughout the projection period, the segment's expansion will be accelerated by the significant presence of numerous industry competitors who produce loratadine tablets in a range of strengths to serve a sizable population base.
The online pharmacy segment dominated the market with the most significant revenue of USD 68.5 billion.
The online pharmacy segment dominated the market with the most significant revenue of USD 68.5 billion. Increased usage of online platforms due to their broad availability and accessibility, a large selection of goods at affordable costs, and promotions that boost demand in particular markets. Furthermore, the combination of telemedicine and online pharmacy platforms is expected to present considerable growth opportunities for the business.
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Market Dynamics:
Drivers: Increasing prevalence of allergic disorders
The rising incidence of allergic illnesses such as urticaria and allergic rhinitis globally is driving the need for loratadine and other antihistamine medications. In addition, consumers are searching increasingly for over-the-counter (OTC) remedies that are simple for common allergies. This has created a clear trend towards self-medication and grown the loratadine market.
Restraint: Limited treatment options
Many allergies have effective treatments, but there are currently few alternatives for treating certain allergies, like food allergies. Patients and healthcare professionals face hurdles due to the absence of conclusive therapies for some allergies, which impacts the market's growth.
Opportunity: Increasing adoption in emerging markets
Growing awareness of allergy management is driving up demand in emerging countries for effective antihistamine medications such as loratadine. Additionally, the expansion of online pharmacies has made loratadine and other medications more widely available to consumers, providing growth opportunities for the market during the forecast period.
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Some of the major players operating in the loratadine market are:
● EUROIMMUN Medizinische Labordiagnostika AG
● AESKU.GROUP GmbH
● Danaher
● Stallergenes Greer
● Siemens Healthcare GmbH
● HYCOR Biomedical
● Alcon
● AbbVie Inc.
● Sanofi
● Teva Pharmaceutical Industries Ltd.
● GSK plc
● Merck & Co., Inc.
● R-Biopharm AG
● DASIT Group SPA
● Thermo Fisher Scientific, Inc
Key Segments cover in the market:
By Grade Type:
● Medicine Standard Grade
● USP Standard Grade
● EP Standard Grade
● Others
By Dosage Form:
● Syrup
● Tablets
● Capsules
● Others
By End-User:
● Online Pharmacy
● Hospital Pharmacy
● Retail Pharmacy
About the report:
The global loratadine market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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