Global Nasal Antihistamines Industry’s Striking Trajectory Surging at 4.6% CAGR, Aiming for US$ 3.23 Billion by 2033 | FMI

The Global Nasal Antihistamines Industry is experiencing a remarkable growth trajectory, set to achieve a valuation of approximately US$ 2.06 billion by 2023 and reaching a significant milestone of US$ 3.23 billion by 2033. This impressive expansion is fueled by a compound annual growth rate (CAGR) of 4.6%, highlighting the escalating demand for these crucial medications.

Antihistamines, recognized for their effectiveness in alleviating allergy symptoms, have become a focal point in the pharmaceutical landscape. These medications play a pivotal role in addressing issues arising from an excess of histamine, a natural substance produced by the immune system. Individuals suffering from allergies, particularly those triggered by pollen and various allergens, have embraced antihistamines to find relief from symptoms such as sneezing, congestion, and itchy, runny noses.

The global prevalence of respiratory diseases, including allergic rhinitis, chronic obstructive pulmonary disease, and asthma, has surged over the past three decades. According to a report published by the National Center for Biotechnology Information (NCBI), approximately 20–30% of the Indian population grapples with allergic rhinitis, with 15% eventually developing asthma.

Request a Sample of this Report Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-13708

Due to this growing burden, there has been an increased adoption rate of nasal antihistamines in the form of nasal sprays and nasal drops, globally. The nasal antihistamines provide rapid and effective relief from the symptoms of allergic rhinitis. Thus, the growing number of allergic rhinitis cases will propel the growth of the Global Nasal Antihistamines Industry in the future.

Advancements in the field of nasal drug delivery have enabled the establishment of several non-invasive approaches for treatment. Various new products such as metered dose delivery systems, innovative odorless powders and sprays, preservative-free nasal sprays and others are key drivers that will expand this industry in the forecast period.

FDA approvals of various nasal sprays to switch from prescription to OTC use has led to increased independence concerning the self-administration of drugs, amongst patients who suffer from allergic rhinitis. Various additions by the manufacturers to the already available product lines, especially for AR are some of the techniques used by the manufacturers to increase product penetration amongst the population.

New product launches & approvals have emerged as key growth strategies adopted by the leading players in the Global Nasal Antihistamines Industry. Following this, the acquisition was the second most key strategy adopted by the industry players. By adopting these strategies, it helped the company to expand its regional presence as well as product offerings.

For instance, In December 2020, GlaxoSmithKline launched Otrivin Breathe Clean, a saline wash with the moisturizing benefit of natural glycerine as a product for the symptomatic relief of allergic rhinitis.

Such developments not only strengthen the company’s existing portfolio but also help to increase their presence at the regional as well as global level, and help companies to sustain the increasing competitive pressure.

Key Takeaways from Global Nasal Antihistamines Industry Study

• By product, nasal sprays accounted for the largest share of 89.0% in 2021 and are expected to continue to grow at the same trend during the forecast period.
• By age group, adults accounted for the largest share in 2021 of the nasal antihistamines market and are expected to continue to grow at the same trend during the forecast period.
• By distribution channel, the retail pharmacies segment is expected to account for the largest share of 41.0% in 2021 of the nasal antihistamines market and is expected to continue to grow at the same trend during the forecast period.
• By region, East Asia held the largest share of 23.0% in 2021 of the nasal antihistamines market. The growing awareness regarding allergies and developing healthcare infrastructure are some of the factors that fuel the high market share of this region.

Methodology Details Just a Click Away!
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-13708

Who is Winning?

Some of the leading manufacturers of the Global Nasal Antihistamines Industry are focusing on product launch collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.

• In April 2021, Merck & Co. acquired Pandion Therapeutics, Inc which is a U.S. based clinical-stage biotechnology company for US $ 1.85 Bn. With this acquisition, Merck strategizes to identify and secure candidates with differentiated and potentially found characteristics for the clinical trials that would be required for their new product launches. This will ensure smooth conduction of clinical trials and thus help the company to expand their business.
• In April 2020, Cipla receives final approval for a generic version of Proventil® HFA Inhalation Aerosol, from the United States FDA. With this approval, the company strengthened their presence in the US pharmaceutical market

The key market players covered by FMI include Bayer Healthcare LLC, Novartis International AG, Cipla, Glenmark Pharmaceuticals, GlaxoSmithKline, Sun Pharmaceuticals, Merck & Co., Centaur Pharmaceuticals, Viatris (Meda Pharmaceuticals), Proctor & Gamble, Ascend Laboratories LLC (Alkem Laboratories), J Pharmaceuticals, Alitair Pharmaceuticals and Sato Pharmaceuticals.

Global Nasal Antihistamines Industry by Category Product:

• Nasal Spray
• Nasal Drops

Age Group:

• Adult
• Pediatric

Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Online Stores

Buy a Complete Research Report
https://www.futuremarketinsights.com/checkout/13708

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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.

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube