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 is a condition caused by an overreaction of the immune system to substances in the air. Common symptoms include sneezing, a runny nose, nasal congestion, and an itchy nose or throat. Nutraceuticals like vitamins, minerals, and botanical supplements provide relief without the side effects of drug options.
Market Key Trends:
The adoption of nutraceuticals for allergic rhinitis treatment is growing rapidly. Nutraceuticals offer a natural and effective option for managing seasonal and perennial allergic rhinitis symptoms. Butterbur is a popular herb that has been shown to inhibit the release of histamines and leukotrienes that cause rhinitis symptoms. Quercetin is a bioflavonoid that reduces inflammation in the nasal passages. Vitamin C and magnesium are also commonly used to reduce nasal congestion and other symptoms. Nutraceuticals provide multi-targeted relief through several biological pathways making them appealing as both a stand-alone treatment and supplement to prescription medication.
Segment Analysis
The global allergic rhinitis treatment market is segmented based on treatment, route of administration, distribution channel, and geography. By treatment, the market is divided into antihistamines, corticosteroids, decongestants, immunotherapies, and others. Among these, the antihistamines segment dominates the market due to their easy availability and effectiveness in controlling rhinitis symptoms such as sneezing, itching, nasal congestion, and runny nose.
Key Takeaways
The Global Allergic Rhinitis Treatment Market Size is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing environmental pollution and rising incidences of grass and airborne allergies.
Regional analysis:
North America dominates the market, accounting for around 40% share. This is attributed to the growing patient population, availability of advanced treatment options, and presence of major key players in the region. Asia Pacific is expected to exhibit the fastest growth during the forecast period owing to rising air pollution levels, growing awareness regarding rhinitis treatment, and improving healthcare infrastructure in emerging economies.
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.
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