LONDON--(BUSINESS WIRE)--The global allergy rhinitis drugs market is expected to grow by USD 2.4 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 4%. Request free sample pages
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The market is driven by the increasing prevalence of allergic rhinitis. In addition, rising awareness about allergic rhinitis is anticipated to boost the growth of the allergy rhinitis drugs market.
Allergic rhinitis, a common non-infectious rhinitis, affected 10%-40% of the population globally in 2017, according to a survey conducted by researchers of the Catholic University of Korea. In addition, about 12 million people diagnosed with allergic rhinitis, visited physicians in 2017, according to the CDC. A person suffering from this condition experiences various symptoms including rhinorrhea, sneezing, nasal pruritus, and nasal congestion. The prevalence of allergic rhinitis is increasing due to factors such as sedentary lifestyle and genetic factors. This is contributing to the increase in the number of visits to hospitals by patients and the consequent administration of allergic rhinitis therapeutics. Thus, the increasing prevalence of allergic rhinitis is expected to drive market growth during the forecast period.
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Major Five Allergy Rhinitis Drugs Market Companies:
Alcon Inc. operates the business under various segments such as Surgical and Vision Care. The company offers PATANASE, which is an olopatadine hydrochloride nasal spray. It is prescribed by physicians for patients, 12 years of age and older, to provide relief from symptoms of seasonal allergic rhinitis.
ALK-Abello AS offers is involved in the development and distribution of allergy treatment products. The company offers ACARIZAX, which is used for the treatment of house dust mite allergy. This condition is characterized by rhinitis.
Dr. Reddy's Laboratories Ltd.
Dr. Reddy's Laboratories Ltd. operates under various business segments, namely Global Generics, Pharmaceutical Services & Active Ingredients, and Proprietary Products. The company offers Vozet tablets, which is an oral formulation of levocetirizine. This medication is indicated for the treatment of chronic urticaria and allergic rhinitis.
GlaxoSmithKline Plc offers products through the following business segments: Pharmaceuticals, Vaccines, and Consumer Healthcare. The company offers Avamys/Veramyst, which is a synthetic corticosteroid. This medication is used for the treatment of allergic rhinitis.
Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Ltd. is involved in the development and production of gene therapy, regenerative medicines, and stem cell therapies. The company provides Ryaltris, which is fixed-dose combination nasal spray of an antihistamine and a steroid. This medication is indicated for patients, 12 years of age and older, suffering from seasonal allergic rhinitis.
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Allergy Rhinitis Drugs Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Intranasal corticosteroids
Allergy Rhinitis Drugs Market Geographic Landscape Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
- Key leading countries
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