Wilmington, Delaware, United States, Transparency Market Research Inc. – The allergic rhinitis market is likely to experience robust growth during the assessment period of 2021-2031 owing to the rising prevalence of respiratory disorders across the globe.
Wilmington, Delaware, United States, Transparency Market Research Inc. – The allergic rhinitis market is likely to experience robust growth during the assessment period of 2021-2031 owing to the rising prevalence of respiratory disorders across the globe. The rising demand for effective drugs in the healthcare sector for respiratory disorders may open new avenues for the growth of the global market.
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Allergic rhinitis is a reaction that is caused due to hypersensitivity towards the surrounding atmosphere. It is a nasal condition that involves nasal congestion, sneezing, and nasal pruritus. Dust, animal waste, or mold can cause allergic rhinitis. The rising cases of rhinitis among a major chunk of the global populace owing to the changing climatic conditions are likely to create multiple growth opportunities.
The allergic rhinitis market can be segmented into antihistamines, immunotherapies, and intranasal corticosteroids based on the drug class. By route of administration, it can be classified into oral, intranasal, and parenteral. Furthermore, on the basis of form, the market can be bifurcated into solid and liquid. Based on type the allergic rhinitis market can be divided into seasonal, occupational, and perennial rhinitis. The distribution channel includes hospital pharmacies, retail pharmacies, and e-commerce.
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The report curated by TMR comprises of exhaustive analysis conducted by market experts regarding the current market scenario. The intrinsic and extrinsic factors that impact the growth structure of the market are included in this particular report. The in-depth analysis of the allergic rhinitis market and various parameters such as the competitive scenario, key drivers and restraints, regional growth, and recent developments in the allergic rhinitis market are included in the report. The impact of the COVID-19 pandemic is also included in the report.
Allergic Rhinitis Market: Competitive Analysis
The allergic rhinitis market consists of well-entrenched players who focus on various strategies for expanding their market reach. The global players are involved in extensive research and development activities to formulate new drugs which can be more effective for the treatment of allergic rhinitis. The novel technologies to enhance the manufacturing process to meet the rising demand has played a crucial role in the market growth.
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The players are involved in strategic collaborations to maintain their market dominance. They are associating with startups, mergers and acquisitions, joint ventures, and partnership firms to expand their reach. The players are constantly striving hard to add new products to their portfolio to remain at the forefront. For instance, US Food and Drug Administration (FDA) approved Glenmark’s nasal spray to treat allergic rhinitis. Glenmark has partnered with Menarini for commercialization purposes. Such developments may create multiple growth opportunities for the global allergic rhinitis market,
Some well-established players operating in the allergic rhinitis market are Glenmark Pharmaceuticals Ltd, Mylan, ALK,Alcon (Novartis AG), Teva Pharmaceutical Industries Ltd., AstraZeneca, Boehringer Ingelheim, and Merck & Co.
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Allergic Rhinitis Market: Key Trends and Opportunities
The rising prevalence of respiratory disorders across the globe is the driving factor for the growth of the allergic rhinitis market. The increasing awareness about allergic rhinitis and its treatment procedures play a vital role in the growth of the allergic rhinitis market. The initiatives by various organizations and government bodies for spreading awareness about allergic rhinitis have contributed to the market growth. The increase in healthcare expenditure through government funding and the availability of effective treatment options is anticipated to create new avenues for the allergic rhinitis market.
The onset of the COVID-19 pandemic had minimal impact on the allergic rhinitis market as the healthcare services were uninterrupted even during the lockdown. The e-commerce segment has shown substantial growth during this period.
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Allergic Rhinitis Market: Regional Dynamics
North America is anticipated to dominate the global allergic rhinitis market owing to the large population suffering from respiratory disorders. Europe is expected to be in the second position followed by Asia Pacific. Asia Pacific may show good growth owing to the rising awareness about allergic rhinitis and easy treatment available in this region.
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