Antihistamine is fastest growing segment fueling the growth of Allergic Rhinitis Treatment Market11/6/2023 The global Allergic Rhinitis Treatment Market is estimated to be valued at US$ 18.17 Mn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Allergic rhinitis treatment refers to medication and therapies that help provide relief from symptoms of allergic rhinitis such as sneezing, itching, runny nose and blocked nose. Common treatment options include antihistamines, decongestants, leukotriene inhibitors and intranasal corticosteroids. These help reduce inflammation, block histamine release and promote sinus drainage for timely relief. Market key trends: The antihistamine segment is growing at a faster rate owing to growing preference and availability of over-the-counter oral antihistamine drugs for self-medication of mild allergic rhinitis symptoms. Antihistamines work by blocking the effects of histamine, a chemical released in the body during an allergic reaction. They help relieve symptoms like sneezing, itchy/runny nose, and itchy/watery eyes. Popular oral antihistamines include loratadine, cetirizine, fexofenadine etc. Their easy availability without prescription and long lasting action make them suitable first line treatment option contributing to the segment growth. Segment Analysis The global allergic rhinitis treatment market is dominated by the OTC drugs segment. This is because OTC drugs such as antihistamines are the most common first line treatment for symptoms of allergic rhinitis like sneezing, congestion and runny nose. They are easily accessible and affordable for symptomatic relief of mild conditions. The prescription drugs segment is expected to grow at a higher CAGR during the forecast period due to the availability of new drug formulations and biologics for moderate to severe persistent allergic rhinitis. Key Takeaways The global Allergic Rhinitis Treatment Market Share is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing prevalence of allergic diseases worldwide driven by environmental factors and genetic predisposition. Regional analysis The North America region currently dominates the global allergic rhinitis treatment market owing to developed healthcare infrastructure, high awareness regarding allergic diseases and availability of advanced treatment options in the region. Asia Pacific is expected to be the fastest growing region during the forecast period driven by growing pollution levels, rising disposable incomes and expanding pharmaceutical industry in the region. 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€TMs Laboratories Ltd, ALK-AbellÃ3 A/S, and Revolo Biotherapeutics. Companies are focusing on new product launches, geographical expansions and acquisitions to gain market share. Read More, https://www.insightprobing.com/allergic-rhinitis-treatment-market-trends-size-and-share-analysis/
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