The global allergy rihinitis drugs market is currently valued at USD 10,555 million and is expected to surpass USD 11,923 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global allergy rhinitis drugs market, under its infectious and rare diseases portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like GlaxoSmithKline, Sanofi, ALK-Abelló, and Meda Pharmaceuticals.
According to Barath Palada, a lead analyst for infectious and rare diseases research at Technavio, “Although existing therapies are highly effective in relieving and controlling symptoms, the market still lacks drugs that can reduce inflammation and cause irreversible airway remodeling. In Europe, the US, and Japan, an estimated 39 million individuals are not in control of their respiratory allergies, as only a few drugs provide relevant treatment.”
High unmet needs exist in the market due to the low number of FDA-approved drugs. Due to this, people often use off-label drugs for the treatment of allergic diseases. Most off-label drugs only provide symptomatic relief and have multiple side-effects such as nervousness, restlessness, insomnia, dry nose, nosebleed, sneezing, general itching, red eyes, swelling, hives, and soreness at the injection site.
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Increase in R&D activities
Several organizations around the world work to better understand the pathogenesis of allergic diseases. For instance, The Australasian Society of Clinical Immunology and Allergy, Allergy and Anaphylaxis Australia, and The European academy of allergy and clinical immunology are some organizations working for better understanding of allergic diseases. Vendors are also launching new indications of drugs so as to reach more patients in the market.
Self-medication using OTC products
Patients suffering from mild allergies that do not require serious care often self-medicate with OTC drugs. These drugs do not require a written prescription from healthcare professionals and can be purchased directly off the shelf from pharmacy stores. Respiratory drugs such as oral and intranasal antihistamines, intranasal corticosteroids, and other allergic rhinitis drugs are used by consumers to treat mild allergies. The practice of self-medication also reduces the pressure on medical services.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Allergy Rhinitis Drugs Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Botulinum Toxin Market 2017-2021
- Global Orphan Drugs Market 2017-2021
- Global Bovine Respiratory Disease Treatment 2017-2021
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