Albany, NY -- (SBWIRE) -- 10/19/2016 -- Allergic rhinitis, more commonly known as hay fever, is a condition that affects millions around the world and manifests in the form of a stuffy or runny nose. A new market research report that is now available on MarketResearchReports.biz evaluates the current disease management landscape for allergic rhinitis in the United States. The report is titled, "Allergic Rhinitis - US Drug Forecast And Market Analysis To 2024." According to the findings of the study, sales of allergic rhinitis touched $2.8 bn in the United States in 2014.
The most conspicuous factor driving the global allergic rhinitis market is its increasing prevalence across the world. The report cites statistics from numerous reputable research publications to make demonstrate how the prevalence of allergic rhinitis has been showing an upswing through the past few years. Estimates by the European Academy of Allergy and Clinical Immunology (EAACI) project that nearly half of all Europeans will suffer from at least one allergy by 2027. Despite the prevalence of allergic rhinitis rising, the global allergic rhinitis market has moved in the opposite direction in a gradual manner. This has been the result of a very low degree of innovation in the kind of therapies brought to the market because the current generation of standard therapies is efficacious. These include leukotriene receptor antagonists (LRAs), intranasal corticosteroids (INCS), and antihistamines (AHs).
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The mounting generic competition has further compounded the situation. The report, also states that in spite of AR becoming more prevalent and patients looking for new therapies, the size of the symptomatic therapies market is expected to shrink in the near future. This will happen as a consequence of the remainder of branded AR treatment products losing patent protection through the forecast period of the report. The report also notes that prescription drugs are fast being replaced by drugs that enjoy an over-the-counter status. This will lead to patients visiting pharmacies to purchase AR drugs, leading revenues to be diluted further.
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On account of these unfavorable conditions that have made the generic AR market lacking in luster to drug manufacturers, the report notes that only two symptomatic therapies for allergic rhinitis are expected to hit the market before 2024.
Even as the report lays bare the factors that are holding back the growth of the global allergic rhinitis market, it delves into opportunities that drug manufacturers can capitalize on. Moving forward, the report profiles all leading allergic rhinitis drug brands as well as generic drugs and their manufacturers. Supplemented by an exhaustive list of figures and tables, the report helps lend a pictorial element to its in-depth analysis. Published in September 2015, the report is composed of 173 pages.
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