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
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201007005668/en/
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.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio’s SUBSCRIPTION platform
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.
Technavio’s sample reports