Report Details:
15 Companies Covered
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Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a half-cooked research report on “Global Allergic Rhinitis Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Allergic Rhinitis Market Overview
Allergy rhinitis, also known as hay fever, is the inflammation of nasal membrane caused by allergens. Pollen is the most common allergen causing allergic rhinitis. It is characterised by sneezing, nasal itching, and nasal congestion. Most of the people are sensitive to seasonal allergens such as grass, while others may suffer from the condition throughout the year.
Prevalence of allergic rhinitis is found to be increasing in the developing countries of the U.S. and Europe. Therefore, there is an increasing demand for treatment measures such as antihistamines, decongestants, eye drops, nasal sprays and others. Additionally, importance of diagnostic test for various types of allergies is found to be increasing among the general population. Skin Test, IgE RAST Test, and Complete Blood Count (CBC) are some of the common diagnostic tests to name a few. Thus, the market exhibits tremendous growth opportunities and is expected to grow at a healthy CAGR of 7% during the forecast period.
According to the World Allergy Organization, 35%-40 % of the total world population is suffering from major or minor type of allergies. Beside this, they also stated that rhinitis and allergic asthma are the major symptoms of allergy. These statistics determine the need for development of new treatment for allergies across the globe. According to the American Academy of Allergy, Asthma & Immunology (AAAAI), nearly 8% of adults in the U.S. encounter allergic rhinitis. According to the American College of Allergy Asthma and Immunology, allergic asthma, food allergy, and eczema are the most common types of allergies found in the U.S. It further stated that one in every twelve people is suffering from allergic rhinitis in the U.S.
Companies to Watch
Merck (US), GSK (UK), Sanofi (France), Cigna (USA), Himalaya (India), J&J (US), Chong kun Dang Pharmaceutical Corp. (South Korea), Faes, Farma (Spain), Glenmark Pharmaceutical (India), Hisamitsu Pharmaceutical Co.in (Japan), Ampio pharmaceutical Inc. (US), Olain Farm (Lavtvia) and others are some of the prominent players at the forefront of competition in the global allergic rhinitis market and are profiled in MRFR Analysis.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Developments:
Sanofi:
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February, 2017: The Food and Drug Administration approved Sanofi's Xyzal Allergy 24hr for Over-The-Counter (OTC) use in the U.S. for the treatment of symptoms associated with seasonal and year-round allergies.
Johnson & Johnson:
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June, 2016: Johnson & Johnson acquired “Actelion Ltd.” to expand their portfolio with leading, differentiated in-market medicines and promising late stage products.
Allergic Rhinitis Market Regional Analysis
With Europe capturing the largest market share, the global allergy rhinitis market is expected to show exponential growth in the near future. This growth is attributed to an increasing prevalence of allergies and extensive research and development activities for development of new drugs. In Europe, Germany, and France are the largest contributors to the growth of the market owing to the availability of funds for research and strengthening healthcare system. Additionally, around 30% of total Europe population is suffering from acute or chronic allergy. As per European Academy of Allergy and Clinical Immunology, 150 million EU citizens suffer from chronic allergic disease. Additionally, 100 million Europeans suffer from allergic rhinitis. Additionally, increasing prevalence of allergy diseases such as asthma, and allergic rhinitis is found to deteriorate the quality of life of the people. Thus affecting their productivity. As per the European Academy of Allergy and Clinical Immunology (EAACI), more than 150 million Europeans suffer from chronic allergic diseases and half of the entire EU population will be affected by 2025. It also stated that 45% of allergy patients are likely to be misdiagnosed in the European Union (E.U). Therefore, there are tremendous growth opportunities for allergy rhinitis in the Europe.
Research & allergy rhinitis:
Faes Farma, S.A., Glenmark Pharmaceuticals Ltd., Hisamitsu Pharmaceutical Co., Inc., Merck & Co., Inc., Pfizer Inc., Shionogi & Co., Ltd., and VentiRx Pharmaceuticals, Inc. are engaged in research activities for development of new therapies for allergy rhinitis.
Therefore, the market is expected to grow at a tremendous rate signifying the importance of new product development and demand for effective treatment options.