by The global allergic rhinitis treatment market is estimated to be valued at US$ 14,916.9 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Allergic rhinitis, also known as hay fever, is a type of inflammation in the nasal passages caused by an allergic reaction. People with allergic rhinitis experience symptoms like sneezing, runny or stuffy nose, itchy eyes and throat when exposed to certain allergens like pollen, dust mites, molds and animal dander. Medications for nasal sprays, oral antihistamines and immunotherapy help provide relief and control symptoms associated with allergic rhinitis.
Market key trends:
One of the key trends in the allergic rhinitis treatment market is the growing awareness and diagnosis rates. According to the American Academy of Allergy, Asthma & Immunology (AAAAI), allergic rhinitis affects 10-30% of the global population. However, only about 20% of those affected get an official diagnosis. Improved awareness and diagnosis can help people get proper treatment as currently 60% rely only on over-the-counter medications. This is encouraging more individuals to seek medical advice for better management of their condition.
Segment Analysis
The allergic rhinitis treatment market is segmented into medication and immunotherapy. The medication segment dominates the market owing to the high adoption of over-the-counter drugs for treating mild to moderate allergic rhinitis. Within the medication segment, antihistamines are the largest sub-segment due to their effectiveness in relieving symptoms like sneezing, itching, and runny nose associated with allergic rhinitis.
Key Takeaways
The global Allergic Rhinitis Treatment Market Size is expected to witness high growth, exhibiting a CAGR of 4.1% over the forecast period, due to the increasing prevalence of allergic rhinitis worldwide caused by pollution and change in climate.
Regional analysis
North America is expected to dominate the allergic rhinitis treatment market owing to the rising healthcare expenditure and growing awareness regarding allergic rhinitis treatment in the region. Europe is also projected to witness significant growth due to the high burden of allergic rhinitis and favorable reimbursement structure in major European countries.
Key players
Key players operating in the allergic rhinitis treatment market are 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
