New York, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The global nasal allergy treatment market was valued at US$ 14.1 billion in 2021, according to Persistence Market Research’s most recent industry report, and is predicted to rise at 4% CAGR throughout the forecast period (2022 to 2032). The nasal allergy treatment market is expected to reach US$ 21.4 billion by 2032.
Because of the major impact on health systems and disruption caused by the COVID-19 pandemic, managing patients with allergic rhinitis (AR) or nasal allergy presented special complications. During the outbreak, there was a significant reliance on self-care for the management of AR symptoms, and many patients were encouraged to only seek out-of-office medical care when absolutely required.
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As patients and healthcare professionals had to modify and adapt their style of engagement from conventional face-to-face consultations to telemedicine and digital health in the delivery of care, the benefit of digital technologies has now become apparent. Thus, technological development has contributed to the expansion of the market for nasal allergy treatments as a whole.
- According to the World Allergy Organization, allergic rhinitis affects 400 million people globally and is a major health concern.
As urbanization and environmental contaminants, which are recognized as some of the primary causes of the disease, have grown, so have AR prevalence rates over time. Keeping these factors in mind, the market for nasal allergy treatment is set to gain traction over the forecast period.
Key Takeaways from Market Study
- Corticosteroids as a treatment held a market share of 30.7% in 2021, as for chronic nose and sinus conditions such as allergic rhinitis and chronic rhinosinusitis, they are the most frequently prescribed medications.
- By disease, perennial allergic rhinitis accounted for a market share of 45% in 2021, as it persists throughout the entire year.
- The nasal route of administration displayed a market share of 41.1% in 2021.
- Retail pharmacies are dominant in terms of distribution channels, and accounted for a market share of 45.4% in 2021.
- North America is leading regional market with a share of 37.3% in 2021.
“Rising healthcare investments as well as high adoption of a digital continuum of care will propel the demand for nasal allergy treatment over the coming years,” says an analyst of Persistence Market Research.
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Market Competition
Key Companies-
- Merck & Co.
- Boehringer Ingelheim
- AstraZeneca
- GlaxoSmithKline PLC
- Sanofi S.A.
- Johnson & Johnson
- Teva Pharmaceutical Industries Ltd.
- Alcon (Novartis AG)
- Stallergenes Greer
- Allergy Therapeutics
- ALK-Abelló A/S
- Hanmi Pharmaceutical
- Immunotek
- Regeneron Pharmaceuticals
- Abdi Ibrahim Pharmaceuticals
- Glenmark
The market for nasal allergy treatment is fragmented. With the presence of several established players as well as regional and local players, the market is highly competitive. Moreover, the market also observes the entry of several players with pipelined products for nasal allergy treatment.
- AstraZeneca and Covis Pharma B.V. reached a deal in November 2018 for the sale of the rights to the drugs Alvesco, used to treat chronic asthma, and Omnaris and Zetonna, used to treat rhinitis-related nasal symptoms.
- The U.S. FDA approved Nucala, a monoclonal antibody targeting interleukin-5, in July 2021 as a treatment for people with chronic rhinosinusitis with nasal polyps, according to GlaxoSmithKline plc.
Want More Insights?
Persistence Market Research offers a unique perspective and actionable insights on the nasal allergy treatment market in its latest study, presenting a historical demand assessment of 2012 to 2021 and projections for 2022 to 2032.
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The study provides compelling insights into the nasal allergy treatment market
- based on treatment – (immunotherapy, antihistamines, decongestants, corticosteroids, others),
- based on disease (seasonal allergic rhinitis, perennial allergic rhinitis, occupational allergic rhinitis), route of administration (oral, nasal, intraocular, intravenous),
- based on distribution channel (retail pharmacies, hospital pharmacies, e-Commerce),
- based on across seven key regions of the world ( North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa (MEA))
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Nasal Allergy Treatment Market Size to Surpass US$ 21.4 billion by 2032: Persistence Market Research Study
