The global allergy rhinitis drugs market size is poised to grow by USD 2.4 billion during 2020-2024, progressing at a CAGR of almost 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis
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Technavio has announced its latest market research report titled Global Allergy Rhinitis Drugs Market 2020-2024 (Graphic: Business Wire)
This growing awareness about allergic rhinitis has proved critical in helping patients get treated in the early stages of the disease. It also increases the chances of accurate diagnosis by physicians. Globally, the prevalence of allergic rhinitis has increased, and there is an increase in the number of initiatives to increase awareness about the disease.
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Report Highlights:
- The major allergy rhinitis drugs market growth came from the Antihistamines segment. They are increasingly being used as a first-line approach to prevent or relieve the symptoms of allergic rhinitis. One of the major factors associated with market growth in this segment is the growing number of companies investing in the development of intranasal antihistamines for the treatment of allergic rhinitis.
- North America was the largest allergy rhinitis drugs market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing prevalence of allergic rhinitis and the availability of a wide range of drugs for the treatment of rhinitis allergy will significantly influence allergy rhinitis drugs market growth in this region.
- The global allergy rhinitis drugs market is fragmented. Alcon Inc., ALK-Abello AS, Dr. Reddy's Laboratories Ltd., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Merck Co. Inc., Novartis AG, Pfizer Inc., Sanofi, and Stallergenes Greer Ltd. are some of the major market participants. To help clients improve their market position, this allergy rhinitis drugs market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global allergy rhinitis drugs market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/allergy-rhinitis-drugs-market-industry-analysis
Increasing Demand for Over-The-Counter Medicines will be a Key Market Trend
Patients with mild allergies often self-medicate with over-the-counter drugs.These over-the-counter pills that do not require a written prescription from a healthcare professional can be directly purchased from pharmacies. In addition, these over-the-counter drugs have increased the practice of self-medication among individuals. Self-medication also reduces the pressure of medical services. Therefore, patients are inclined toward over-the-counter drugs, which in turn positively impacts the market.
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Allergy Rhinitis Drugs Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist allergy rhinitis drugs market growth during the next five years
- Estimation of the allergy rhinitis drugs market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the allergy rhinitis drugs market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of allergy rhinitis drugs market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Antihistamines Market size and forecast 2019-2024
- Intranasal corticosteroids Market size and forecast 2019-2024
- Immunotherapies Market size and forecast 2019-2024
- Others Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- APAC Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver Demand led growth
- Volume driver Supply led growth
- Volume driver External factors
- Volume driver Demand shift in adjacent markets
- Price driver Inflation
- Price driver Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alcon Inc.
- ALK-Abello AS
- Dr. Reddy's Laboratories Ltd.
- GlaxoSmithKline Plc
- Glenmark Pharmaceuticals Ltd.
- Merck Co., Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi
- Stallergenes Greer Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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