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Allergic Rhinitis Drugs Market Size

Report ID: GMI5413
Published Date: Jan 2023
Report Format: PDF

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Allergic Rhinitis Drugs Market Size

Allergic Rhinitis Drugs Market size was recorded at over USD 12 billion in 2022. Driven by consistent innovations in allergic rhinitis drugs, the industry is estimated to grow at more than 2.5% CAGR from 2023 to 2032.

The increasing prevalence of allergic rhinitis is expected to fuel market growth. Several epidemiological studies have shown that the disease burden caused by allergies has significantly increased in the past few years. Moreover, air quality deterioration in developed nations due to cumulative industrial practices has escalated the number of allergic rhinitis cases, which is speculated to bolster product penetration.

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Furthermore, technological advancements in the field of allergy diagnosis and treatment are also forecast to positively influence business dynamics. The considerable surge in deploying technologically advanced methods, tools, and mechanisms by authorities and organizations globally has uplifted product adoption.

Allergic Rhinitis Drugs Market Report Attributes
Report Attribute	Details
Base Year:	2022
Allergic Rhinitis Drugs Market Size in 2022:	USD 12 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	2.5%
2032 Value Projection:	USD 16 billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	351
Segments covered:	Disease, Treatment, Drug, Route of Administration, Distribution Channel, and Region
Growth Drivers:	Rising awareness about allergic reactions and available treatment modes Increasing prevalence of allergic rhinitis Technological advancements in the field of allergy diagnosis and treatment Growing pollution levels coupled with rise in respiratory disorders
Pitfalls & Challenges:	Side effects associated allergic rhinitis treatments Similarity of symptoms with other diseases

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Side effects associated with allergic rhinitis treatments are a major factor restraining market growth. The most frequent side effects of treating allergic rhinitis are nosebleeds, excruciating migraines, eye and nose discomfort, urinary flow in males, and boost blood pressure in hypertensive patients. Altogether, the growing practice of self-medication without a doctor's prescription leads to difficulties. Nonetheless, mounting healthcare spending and the availability of highly potent drugs are likely to aid market players in overcoming this issue.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for allergic rhinitis drugs was valued at more than USD 12 billion in 2022 and is set to progress at over 2.5% CAGR over the next 10 years owing to technological advancements in the field of allergy diagnosis and treatment.

Online channel segment is foreseen to reach over USD 4 billion by the end of 2032 on account of the availability of swift service, beneficial discounts & offers from various manufacturers, and the strong preference of elderly patients.

Oral segment is poised to garner more than USD 6.5 billion in revenue by 2032 as a result of its high level of convenience, low cost, and non-invasive approach.

Allergic rhinitis drugs market in North America accounted for more than 37% of the revenue share in 2022 due to soaring technological developments in treatment methods and rising healthcare expenditures in the region.