Easy Availability of Treatments to Multiply Allergic Rhinitis Market Growth is showing promises of taking a leap with 7% CAGR and climb USD 15 billion by 2023.
Market Overview:
Allergic rhinitis, or hay fever, is a kind of allergy that shows symptoms like eyes, throat, skin, itchy nose, mouth, and on other parts of the body. Among other symptoms sneezing, running nose, a problem during smelling, watery eyes, cough, and sore throat. Various reasons can trigger the disease like pollen, animal dander, mold, and dust. The disease is an inherited one and the only way to prevent it is to arrest contact from various allergens.
Various factors can inspire the growth of the global allergic rhinitis market, such as easy access to medicines, growing knowledge about the disease, better prevention methods against allergens, and others can inspire the market is taking shape in the coming years. However, various homely remedies can also prevent the disease, which can deter the expected market growth.
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Major Key Players Competitive Landscape:
A number of companies are launching several products to gain profit from the global allergic rhinitis market. Such companies are going to make substantial changes in their various strategic moves to ensure they reap of the maximum profit from the market. Their intention is to launch new products all the time to ensure that their product receives superior quality advantages.
MRFR recorded these companies in their latest report to understand the market movement in a better way. These companies are Sanofi (France), Merck (US), GSK (UK), Himalaya (India), Cigna (USA), Chong kun Dang Pharmaceutical Corp. (South Korea), J&J (US), Olain Farm (Lavtvia), Glenmark Pharmaceutical (India), Faes, Farma (Spain), Ampio pharmaceutical Inc. (US), Hisamitsu Pharmaceutical Co.in (Japan), and others.
Market Segmentation:
The study of the allergic rhinitis market requires analysis from close quarters. Such an analysis banks on segmentations with details carrying several factorial details. The market is segmented by type, treatment, and test.
By type, the global allergic rhinitis market can be segmented into seasonal, perennial, and non-allergic rhinitis.
By treatment, the global allergic rhinitis market has detailed coverage of segments like immunotherapy, antihistamines, decongestants, eye drops, sublingual immunotherapy (SLIT), nasal sprays, and home remedies. The antihistamine segment can be segmented further into Allegra, Clarinex, Xyzal, and Zyrtec. The decongestants segment includes Sudafed PE, Afrin Nasal Spray, Sudafed, and Zyrtec-D. The test segment can be segmented on the basis of skin tests, igE RAST test, and complete blood count.
Regional Analysis:
Region-specific take on the allergic rhinitis market banks in regions like the Americas, Europe, and the Asia Pacific (APAC). These regions are known for their high market contributions due to strong infrastructural setups. The Americas comprises North America and South America. North America has a better market presence owing to high investment capacity and better technological adoption. The region covers the U.S. and Canada to impact the market on a grand scale. Europe is expected to make substantial profit due to the presence of countries like the UK, France, Germany, and other countries. In the APAC region, the revamping healthcare sector is expected to make sure that the market gets better percolation opportunities. Countries like India, China, and others are expected to make substantial profit in the coming years.
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The Middle East & Africa market can witness growth in the Middle East region where Qatar, Kuwait, the UAE, Saudi Arabia, and others. On the other hand, the growth of the market in the Africa region can deter market growth as the presence of poor economies can bog down the market considerably.
Industry News:
In August 2019, the U.S. FDA gave clearance to a new nasal spray to treat allergic rhinitis. The drug is launched by Akron and the name of the drug is Azelastine Hydrochloride Nasal Spray that could provide relief from seasonal allergic rhinitis.
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