Allergic rhinitis – commonly known as hay fever – is a group of symptoms affecting the nose. Hay fever doesn’t cause a fever. In US, nearly 8 percent of adult’s experience allergic rhinitis of some kind, as per American Academy of Allergy, Asthma & Immunology (AAAAI) between 10 and 30 percent of the worldwide population may also have allergic rhinitis.
The global allergic rhinitis market is projected to reach USD 15064.12 MN by 2025, registering 3.10% CAGR over the review period (2019-2025). Factors such as the increasing prevalence of allergic rhinitis, increasing government initiatives to spread the awareness about AR, growing healthcare expenditures, and expansion of the private healthcare system, act as key driving forces for the market growth.
On the other hand, side-effects associated with the drug used during the treatment of allergic rhinitis are anticipated to act as major growth impeders for the market. Nevertheless, increasing R&D investments made by the public & private sectors in the development of breakthrough medicines and therapeutics would support the growth of the market throughout the forecast period. Also, a significant increase in the global population, economy, and per capita income healthcare expenditure would substantiate the market growth.
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The market witnesses a dramatic rise in the demand for effective therapeutics to treat hay fever. Besides, factors such as the expanding healthcare sector and increasing government initiatives to spread awareness about allergic diseases are characterizing the market growth. Also, growing occurrences of various respiratory diseases & disorders, such as asthma, bronchospasm, urticaria, and others, contribute to the market growth exponentially. Resultantly, the allergic rhinitis market exhibits a lucrative growth rate.
Global Allergic Rhinitis Market, by Type
Global Allergic Rhinitis Market, by Treatment
Global Allergic Rhinitis Market, by Route of Administration
Global Allergic Rhinitis Market, by Distribution Channel
The Americas dominates the global allergic rhinitis market owing to the presence of major market players in the region, strategic acquisitions by major players to augment product portfolio, growing cases of respiratory disorders, and availability of advanced medications for the treatment of allergic rhinitis.
For the instance, the National Centre for Biotechnology Information (NCBI) stated that the prevalence of allergic rhinitis in the US is approximately 15%, which are physician-diagnosed. The European region holds the second-largest market share owing to the adoption of advanced processing by hospitals and patients in the European countries, and ongoing efforts made by Global Allergy and Asthma European Network to strengthen European research, spread excellence.
Asia-Pacific are estimated to be the fastest-growing region in the global market due to the continuous developments in developing countries like India and China. Emerging economies are expected to explain maximum cases of allergic rhinitis due to tobacco smoke, exposure to air pollutants in the home and workplace, vehicular pollution, and indoor air pollution, this is likely to drive the growth of the market. This region is expected to grow at a CAGR of 3.65% during the forecast period of 2019 to 2025.
The allergic rhinitis market in the Middle East & Africa is expected to witness a modest market growth rate from the year 2019 to 2025. The established countries in the Middle East, such as the UAE and Saudi Arabia are the ones with the maximum share in the allergic rhinitis market. The advanced healthcare infrastructure boosted healthcare expenditure and growing per capita disposable incomes of the people in these countries are some factors contributing to their large share of the market in this region.
Players active in the global allergic rhinitis market include GlaxoSmithKline plc, AstraZeneca, Johnson & Johnson Services, Inc, Sanofi, Bayer AG, Boehringer Ingelheim, ALK-Abelló A/S, Merck & Co., Novartis AG, and Meda Pharmaceuticals, among others.
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