Published Date: February 2, 2023
Allergic Rhinitis Drugs Market size is anticipated to exceed USD 16 billion by 2032, according to a new research report by Global Market Insights Inc.
Mounting awareness regarding allergic reactions and available treatment modes as the chief allergic rhinitis drugs industry drivers. Furthermore, increasing pollution across developed nations is also impelling the prevalence of respiratory disorders. This rise in air pollution levels results in high allergenic pollen and contributes to a high number of patients suffering from allergic rhinitis. Exposure to high pollution levels thus leads to heightened respiratory symptoms and different allergic disorders, which is foreseen to positively influence the product outlook.
The study classifies the allergic rhinitis drugs market into perennial allergic rhinitis, seasonal allergic rhinitis, and occupational allergic rhinitis. The perennial allergic rhinitis segment was worth more than USD 5.5 billion in 2022. Animal dander, house mite dust, and other allergens in the environment are primarily responsible for perennial allergic rhinitis.
This type of allergic rhinitis can be avoided by closing the windows of homes, correctly washing & grooming pets regularly, and so on. The upsurge in pet adoption globally is also causing a rise in this allergy. Around 70% of American households own a pet, inviting allergic diseases, which is likely to fuel product demand.
Browse key industry insights spread across 220 pages with 334 market data tables & 18 figures & charts from the report, “Allergic Rhinitis Drugs Market Size By Disease (Seasonal Allergic Rhinitis, Perennial Allergic Rhinitis, Occupational Allergic Rhinitis), By Treatment (Antihistamines, Immunotherapy {SCIT, SLIT}, Corticosteroids, Decongestants), By Drug (Prescription, OTC), By Route of Administration (Oral, Nasal, Intraocular, Intravenous), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Channel), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:
https://www.gminsights.com/industry-analysis/allergic-rhinitis-drugs-market
Allergic rhinitis drugs market share from the antihistamines segment was valued at over USD 4.5 billion in 2022 and is speculated to amass significant gains by 2023. Antihistamines operate on the tenet of preventing the release of histamines in the body during an allergic reaction and are available in the form of tablets, liquids, nasal sprays, and eye drops, among others. Additionally, these medications are sold over-the-counter and via prescription, and the increase in cases of allergic rhinitis has promoted the use of antihistamines, such as cetirizine, desloratadine, and more.
The allergic rhinitis drugs market share from the over-the-counter (OTC) drug segment is poised to witness gains at a 3.5% CAGR between 2023 and 2032. As per the study, the easy availability of a variety of OTC and non-prescription drugs for the treatment of allergic rhinitis is fostering product adoption. Moreover, the mounting popularity of self-medication and online purchasing of prescription drugs are also projected to aid segment outlook. As per a research paper, over 8.5% of antihistamines are consumed through self-medication.
Heavy demand for intravenous route of administration for treatment. The allergic rhinitis drugs industry size from the intravenous segment is primed to account for over USD 1.5 billion in revenue by 2032. Injectables are the most effective approach to delivering medicine as the drug enters systemic circulation instantly without the delay associated with absorption procedures, achieving its therapeutic effect almost immediately. Furthermore, numerous advantages, such as the ability to distribute medication uniformly, a large volume of infusion, and the ability to replenish electrolytes, among others, are benefitting the segment outlook.
The deployment of allergic rhinitis drugs through hospital pharmacies is set to remain high in the coming years. The hospital pharmacy segment held more than 42% share of the allergic rhinitis drugs market in 2022 and is projected to depict substantial revenue trends from 2023 to 2032. Since a substantial number of patients report moderate to severe allergic rhinitis, the majority of them contact the physician for better diagnosis and treatment of the disease, contributing to the cumulative product sales in hospital pharmacies.
The allergic rhinitis drugs market in the Asia Pacific is foreseen to reach a valuation of more than USD 4 billion by the end of 2032. The region may emerge as a major hub for this industry owing to soaring investments toward strengthening the domestic healthcare infrastructure, as well as notable R&D initiatives, by industry participants. According to the Department of Promotion of Industry and Internal Trade, the Government of India estimates a capital investment of Rs. 151,019 crores (USD 18 million) on medical education and healthcare infrastructure over 2020-2025.
The competitive landscape of the allergic rhinitis drugs market is slated to witness a series of product innovation tactics, along with strategic partnerships with healthcare companies, by industry participants. Some of the key players profiled in the report include Teva Pharmaceutical Industries Ltd., Alcon (Novartis AG), Stallergenes Greer, Sanofi S.A., Boehringer Ingelheim, Unichem Laboratories, and others.
Sumant Ugalmugle, Rupali Swain