Global Allergic Rhinitis Drugs Market 2019-2023| Increasing Demand for Over-the-Counter Medicines to Boost Growth| Technavio
The global allergic rhinitis drugs market is expected to post a CAGR of nearly 4% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global allergic rhinitis drugs market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing awareness about allergic rhinitis. The increasing awareness about allergic rhinitis improves patient access to the treatment 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 due to which there has been an increase in the number of initiatives to increase the awareness about the disease.
This market research report on the global allergic rhinitis drugs market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing demand for over-the-counter medicines as one of the key emerging trends in the global allergic rhinitis drugs market:
Global allergic rhinitis drugs market: Increasing demand for over-the-counter medicines
For treating allergic rhinitis, there has been a rise in the demand for over-the-counter medicines. Patients with mild allergies do not require serious care, and they often self-medicate with over-the-counter drugs. Over-the-counter pills such as that do not require a written prescription from a healthcare professional and can be directly purchased from pharmacies.
“Nasal washes can help remove mucus from the nose in mild allergic rhinitis. Nasal washes are easily available at pharmacies and can be purchased without a prescription. This promotes the use of over-the-counter drugs by individuals. Furthermore, these over-the-counter drugs have increased the practice of self-medication among individuals. Self-medication reduces the pressure of medical services. Therefore, patients are inclined toward over-the-counter drugs,” says a senior analyst at Technavio for research on pharmaceuticals.
Global allergic rhinitis drugs market: Segmentation analysis
This market research report segments the global allergic rhinitis drugs market by products (antihistamines, intranasal corticosteroids, and immunotherapies) and geographical regions (APAC, EMEA, and the Americas).
The antihistamines segment held the largest market share in 2018, accounting for over 45% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of nearly 44%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share by over 1%.
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Five Forces Analysis
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- Vendors covered
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