Global Allergy Rhinitis Market Overview
Allergic rhinitis is also known as ‘hay fever.’ The symptoms of allergic rhinitis include itchiness in mouth, nose, throat, eyes, as well as other body parts. Other symptoms include sneezing, running nose, problems faced during smelling, watery eyes, cough, and sore throat. One of the most primary reasons for the widespread occurrence of allergic rhinitis is weakening immunity. Market reports associated with allergic rhinitis, as conferred by Market Research Future (MRFR) have concluded that the market for allergic rhinitis is set to reach a 7% CAGR during the forecast period.
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The global allergic rhinitis market is estimated to gross revenues of USD 15 billion by the end of the forecast period. There are many significant factors attributable to such upscaling noticed in the global market. Mold, pollen, animal dander, and dust have been identified as primary triggering agents for allergic rhinitis. These substances are increasingly found during specific periods of the year. This is leading to an upsurge in demand for controls and treatment of hay fever since the control for limiting the contraction is very limited.
Allergy Rhinitis Market Segmentation
The global allergic rhinitis market is studied for various segments on the basis of type, treatment, and test. On the basis of type, the allergic rhinitis market is segmented into seasonal, non-allergic rhinitis, and perennial. On the basis of treatment, the allergic rhinitis market is segmented into nasal sprays, immunotherapy, sublingual immunotherapy (SLIT), antihistamines, decongestants, eye drops, and home remedies. The antihistamine segment is sub-segmented into drugs such as Clarinex, Allegra, Xyzal, and Zyrtec. The decongestants segment is sub-segmented into Sudafed, Afrin nasal spray, Sudafed PE, and Zyrtec-D. Based on test, the global allergic rhinitis market is segmented into IgE RAST test, skin tests, and complete blood count.
Allergy Rhinitis Market Detailed Regional Analysis
The global allergic rhinitis market is geographically segmented into Europe, America, Asia Pacific, and the Middle East & Africa. The Americas segment is further sub-segmented into North America and South America. North America is anticipated to spearhead the global allergic rhinitis market. In North America, the U.S. is estimated to dominate the country-specific market for allergic rhinitis during the assessment period.
Europe is expected to follow North America and garner the second largest share in the global allergic rhinitis market over the conjectured period. Asia Pacific is likely to witness noteworthy growth for allergic rhinitis in the forthcoming years. This high growth can be accredited to the growing awareness of the disease and the various ways of treating it. Further, a rising incidence of the disease in the region can also be attributed to the increasing population and the weakening immunity of the people residing in Asia Pacific. Japan is likely to follow the U.S. and have the highest incidence of allergic rhinitis in Asia Pacific, and the second highest incidence of the disease in the world.
Allergy Rhinitis Market Competitive Analysis
Many external factors are defining the course of the allergic rhinitis market, which is contingent on the various practices and strategic roadmaps used by various market players. The rising number of revolutionary innovations in multiple products and services are chiefly contributing to the success of the market and the compelling influence over trends that have gained importance in the global market. Further, the availability of proficient labor force with resources is on the rise, promoting comprehensive growth in the global allergic rhinitis market.
Allergy Rhinitis Market Operating Top Key Players
The global allergic rhinitis market report by MRFR has profiled many influential players including Sanofi (France), GSK (UK), Chong Kun Dang Pharmaceutical Corp. (South Korea), J&J (US), Hisamitsu Pharmaceutical Co.in (Japan), Himalaya (India), Faes, Ampio pharmaceutical Inc. (US), Cigna (USA), Farma (Spain), Merck (US), Glenmark Pharmaceutical (India), and Olain Farm (Lavtvia).
Allergy Rhinitis Industry Update
May 2019: Marinomed Biotech AG, a globally active biopharmaceutical company recently found that Budesolv 10µg achieves the same effect that Rhinocort Aqua 64µg, a current market reference product, does, with a dose six times lower than Rhinocort Aqua 64µg. The results of the study for Budeslov showcased that the symptoms for allergic rhinitis (hay fever) improved after the very first dose of Budesolv.
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