According to Future Market Insights, the global nasal allergy treatment industry is poised for substantial growth, with its valuation expected to double from USD 6.6 billion in 2022 to USD 13.3 billion by 2033. The market is projected to exhibit a robust CAGR of 6.7% during the forecast period.
Nasal allergy, also known as allergic rhinitis (AR), is a prevalent non-infectious inflammatory condition of the nasal mucosa. It occurs following exposure to airborne allergens in individuals with atopic predisposition and is driven by IgE-mediated immune responses involving various immune cells and cytokines. Despite significant medical advancements, nasal allergies remain a persistent global health issue, affecting a substantial portion of the population.
Innovation and Development Fuel Market Growth:
The nasal allergy treatment industry has witnessed significant advancements in recent years, attributed to the growing interest of manufacturers and the concerted efforts of research and development teams. Companies are investing in cutting-edge therapeutic solutions to cater to unmet needs in allergy management. This surge of innovation includes improved pharmacological therapies, non-invasive treatments, and personalized medicine approaches designed to enhance patient outcomes.
Key Drivers of Market Expansion:
- Rising Allergy Awareness: Increased awareness campaigns about allergic conditions have encouraged early diagnosis and treatment, boosting market growth.
- Expanding Manufacturer Base: A growing number of pharmaceutical companies are entering the allergy treatment segment, fostering competition and innovation.
- New Therapies and Solutions: Research and development efforts have resulted in the launch of novel treatments that address the root causes of allergic rhinitis.
Challenges Persist:
Despite the positive market trajectory, challenges remain. A significant portion of the global population still endures nasal allergies, often due to delayed diagnosis, limited access to healthcare, or reluctance to seek treatment. Addressing these gaps will require continued innovation, enhanced healthcare access, and public education efforts.
Future Outlook:
With the market expected to reach USD 13.3 billion by 2033, stakeholders in the nasal allergy treatment sector are well-positioned to capitalize on this growth opportunity. Collaboration between manufacturers, healthcare providers, and policymakers will be instrumental in improving the quality of life for individuals suffering from nasal allergies.
Key Takeaways:
- Allergic Rhinitis is the leading segment among other diseases, and holds around 65.8% market value share in 2022, owing to higher rates of identified cases.
- Tablets/Capsules segment is set to lead in terms of the form of nasal allergy treatment with a projected market value share of around 33.6% by 2033, with respect to the physical and chemical attributes.
- By prescription type, the widely adopted is OTC drugs as they are easily available without prescription and also the commonly prescribed drugs for allergy can be easily availed from drug stores. OTC by prescription type held a market share of 76.3% in the year 2022.
- Multiple treatments are available but Antihistamines hold a significant share of 46.0% in the treatment segment as they can successfully treat wide range of allergic reaction symptoms.
- By distribution channel, hospital pharmacies held a share of around 35.9% in 2022 due to easy accessibility of licensed and approved medications.
- North American region dominated the global market with U.S. contributing 92.4% value share to North American market, owing to the prevalence of nasal allergies in the region.
“In light of the increasing demand for nasal allergy treatment and the increasing prevalence of allergies, the market for nasal allergy treatment is predicted to expand globally,” says an analyst at Future Market Insights (FMI).
Soaring Demand for Market Information: Uncover Detailed Trends and Insights in Our Report!
Market Competition:
The market for nasal allergy treatment represents a fragmented market. The market players are focused on developing and launching drugs and attaining approvals in order to improve treatment outcomes. Manufacturers are also looking ahead to acquisition and collaborations.
- GlaxoSmithKline plc’s (GSK) Nucala (mepolizumab) received US Food and Drug Administration (FDA) on 29 July 2021. Nucala (mepolizumab) is a monoclonal antibody targeting interleukin-5 (IL-5). Patients with chronic rhinosinusitis with nasal polyps (CRSwNP) can be treated using this drug.
- In April 2020, ALK Abello was pleased to share that Health Canada has approved once-daily ITULATEK, a sublingual tablet for the treatment of tree pollen allergy.
Key Players:
- Merck KGaA
- Johnson & Johnson
- Allergopharma
- Sanofi SA
- McNeil Consumer Healthcare,
- Genentech Inc.
- GlaxoSmithKline PLC
- Leti Pharma,
- Alerpharma S.A
- Allergan, Inc.
- Meda Pharmaceuticals, Inc
- Novartis International AG
- Bausch Health Companies Inc.
- Allergopharma
- ALK Abello
- Stallergenes Greer
- Allergy Therapeutics
- Aimmune Therapeutics
- Biomay AG
- HAL Allergy Group
- Bayer
- AstraZeneca
Key Market Segments Covered in the Nasal Allergy Treatment Industry Research:
By Disease Type:
- Allergic Rhinitis
- Seasonal Allergic Rhinitis
- Perennial Allergic Rhinitis
- Non-Allergic Rhinitis
- Infectious Rhinitis
By Form:
- Tablets/Capsules
- Liquid
- Creams & Lotions
- Drops
- Spray
By Prescription Type:
- OTC
- Prescription based
By Route of Administration:
- Oral
- Intranasal
- Sublingual
- Sub Cutaneous
- Intravenous
By Treatment:
- Antihistamines
- Decongestants
- Nasal Corticosteroids
- Allergen Immunotherapy
- Leukotriene Receptor Antagonists
By Distribution Channel:
- Hospital Pharmacies
- Supermarkets/Hypermarkets
- Online Pharmacies
- Retail Pharmacies
- Speciality Clinics
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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