The analysts forecast the global allergy rhinitis drugs market to grow at a CAGR of 3.05% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global allergy rhinitis drugs market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the key vendors operating in this market.
Allergic diseases are one of the fastest-growing chronic diseases globally. If not managed properly at an early stage, allergic diseases such as rhinitis can increase the risk of asthma in the later stage of life. Several organizations around the world work to better understand the pathogenesis of allergic diseases.
According to the report, one driver in the market is increasing awareness about allergic rhinitis. The increasing awareness about allergic rhinitis is fueling the market growth. Due to various environmental factors, the prevalence of allergic rhinitis is increasing in US. In the US, awareness programs and initiatives are undertaken by various organizations to spread disease awareness among the target population.
Further, the report states that one challenge in the market is patent expiries and generic competition. The patent expiry of major drugs approved for allergy rhinitis is expected to adversely affect the market and slow down its growth during the forecast period. The patent expiry of a drug often results in the loss of the exclusive market, leading to a rapid decline in sales.