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Allergic rhinitis drugs market is projected to grow at a CAGR of 3.78% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Allergic Rhinitis Drugs Market Report 2023-2033. It includes profiles of Allergic Rhinitis Drugs Market and Forecasts, Market Segment by Size by Treatment type (Antihistamines, Immunotherapy {SCIT, SLIT}, Corticosteroids, Decongestants, Others), by Disease type (Seasonal Allergic Rhinitis, Perennial Allergic Rhinitis, Occupational Allergic Rhinitis), by Route of Administration (Oral, Nasal, Intraocular, Intravenous), by Distribution channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The allergic rhinitis drugs market was valued at US$12,025.2 million in 2022 and is projected to grow at a CAGR of 3.78% during the forecast period 2023-2033.
Growing Awareness About Allergies and Available Treatment Options
Allergic Rhinitis impacts the quality of life of the person suffering from it. It not only affects the normal routine of a person but also impact their learning ability, performance and productivity at work. The annual cost incurred on treatment of seasonal allergic rhinitis and occupational allergies is significantly higher. There is also a growing evidence that allergic rhinitis is the risk factor for causing asthma. World Health Organisation (WHO) has been working on initiatives to spread global awareness about Allergic Rhinitis and its economic impact. It introduced standard guidelines named ARIA (Allergic Rhinitis and its Impact on Asthma) to effective address the treatment for Allergic Rhinitis. The level of awareness and knowledge about allergic rhinitis is crucial to reduce its prevalence. Patients awareness and knowledge on etiology, clinical manifestations, effects, and management of allergic rhinitis will help reduce overall burden of allergic diseases on healthcare systems of the countries.
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How has COVID-19 had a Moderately Positive Impact on the Allergic Rhinitis Drugs Market?
The pandemic disrupted production of drugs and its supply chain and logistics thereby impacting the availability of drugs to the patients. The number of ongoing clinical trials across various therapeutic areas such as oncology, autoimmune disorders, hypertension and diabetes were either halted or postponed. Most of the services including dispensing of drugs for treatment of chronic diseases were designated as non-essential. A host of healthcare and hospital services were halted to avoid transmission and maintain physical distancing and other preventive measures. Health systems witnessed dearth of resources and infrastructure to accommodate the abrupt surge in health needs of COVID-19 infected patients. The surging demand for medications immediately after pandemic helped companies restore their supply chain and provide drugs to the patients. It has a positive impact on the sales of drugs, pharmaceuticals and vaccines once economy was opened after series of lockdowns.
How will this Report Benefit you?
Visiongain’s 261-page report provides 105 tables and 173 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Allergic Rhinitis Drugs Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Allergic Rhinitis Drugs Market. Get financial analysis of the overall market and different segments including treatment type, disease type, route of administration, distribution channel and capture higher market share. We believe that there are strong opportunities in this fast-growing Allergic Rhinitis Drugs Market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Prevalence of Respiratory Disorders to Spur Market Growth
Allergic rhinitis and asthma are common respiratory disorders that affect the quality of life of patients and have a significant impact on healthcare expenditure. The number of cases affected with allergic rhinitis and asthma is increasing, particularly in emerging nations. Other allergic diseases include life-threatening anaphylaxis, conjunctivitis, angioedema, urticaria, eczema, eosinophilic disorders, and insect allergies. Increasing air pollution and harmful effects of other environmental factors lead to the development of allergic diseases. Presence of large number of allergens responsible for causing allergic rhinitis and availability of several treatment options makes it more complex to treat. An integrated approach to diagnosis coupled with growing coordination among physicians and patients will enable early treatment and care.
Launch of Effective and Novel Drug Delivery Systems to Drive Industry Growth
Anti-allergic drugs are used to treat a variety of diseases that involves an inflammation and act by inhibiting the release of inflammatory mediators. Allergen immunotherapy (AIT) is a recent therapy which provided through subcutaneous (SCIT) or sublingual (SLIT) routes of administration. While subcutaneous therapy has been an effective option for years, sublingual tablets are proven to be safer and more efficacious. Sublingual drug delivery is the novel approach associate with its ease of self-administered and reduced risk for systemic reactions. Nasal drug delivery systems are the novel and most versatile routes for drug release. The nasal drug delivery is preferred owing to its characteristics to circumvent first-pass metabolism and provide maximum bioavailability for the therapeutic effect.
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Where are the Market Opportunities?
Increasing Advancements in Allergen Immunotherapy
Allergen-specific immunotherapy (AIT) has been broadly used to develop tolerance against allergic diseases. AIT functions through various pathways including regulation of T and B cells, migration of eosinophils and basophils, or moderating antibody isotypes among others. Though AIT is relatively successful, attempts are made to improve this therapy by moderating its safety, efficacy, duration of therapy and cost. Several biotechnological products are under trials which can prove better and efficacious to the available options. Some of the other advances include development of new molecules and novel biomarkers for allergen immunotherapy. Moreover, growing focus on development hypoallergenic vaccines and usage of combinational therapy including probiotics, vitamins and biological agents with allergen immunotherapy will open new avenues for treatment of allergic disorders.
Favorable Government Initiatives to Promote Awareness Regarding Allergic Rhinitis
Allergies are associated with substantial disease burden on the healthcare and medical systems for developed as well as developing economies. Allergies are highly prevalent group of ailment that adversely impacts the quality of life of people suffering from it. Growing awareness about allergic rhinitis is anticipated to contain the rising prevalence of this disease over the forecast period. Favourable government initiatives and social media campaigns are used effectively to educate the people and spread awareness of allergic diseases, its prevention, control and economic impact on the lives of the people. For instance, Finnish Allergy Program was introduced to improve immunity against allergies including asthma related health. It laid out strategies and recommendations aimed at reinforcing the tolerance to the allergens rather than avoidance to the allergens. Similarly, AlergiaPT was a Portuguese National Allergy Media Campaign which used social media to increase about the allergic diseases. It launched the interactive user-generated content including both short and lengthy video clips to educate people about allergies, and measures to prevent and control the same.
Competitive Landscape
The Allergic Rhinitis Drugs Market is highly competitive in nature and is dominated by few of the major industry players. Some major players operating in the market include Merck, AstraZeneca, Bayer, Johnson and Johnson, Mylan, Sanofi, Boehringer Ingelheim, and GlaxoSmithKline among others.
The leading industry players are resorting to a combination of organic and inorganic growth strategies to capture highest market share and strengthen their competitive position in the market. The major industry players adopt various strategies comprising mergers and acquisitions, partnerships, strategic collaborations, investment in R&D, expanding regional network, and launch of better and innovative products to maintain its competitive positioning.
Recent Developments
In November 2022, Alcon acquired Aerie Pharmaceuticals, Inc. This acquisition will help Alcon to strengthen its ophthalmic pharmaceuticals portfolio along with its other commercial products and others in the development phases.
In September 2022, Health Canada granted approval to Glenmark Pharmaceuticals nasal spray Ryaltris. This innovative therapy option is used in the treatment of severe seasonal allergic rhinitis and other ocular symptoms. The approval is obtained through its subsidiary Glenmark Specialty SA, and Bausch Health Companies Inc.
In March 2022, The U.S. FDA has allowed the Rx to OTC switch for Perrigo’s drug Nasonex®. The Nasonex® is a corticosteroid indicated for the treatment of seasonal allergic rhinitis, nasal congestion, and nasal polyps.
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About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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Oliver Davison
Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100
Email: oliver.davison@visiongain.com
Web: www.visiongain.com
