The global Rhinitis market is expected to witness significant growth during the forecast period. Due to increased environmental irritants or air pollution, upper respiratory infections, drug-drug interaction, overuse of nasal decongestant sprays and presence of disease conditions such as GERD, asthma, chronic sinusitis and deviated septum, will boost up the rhinitis market. COVID-19 also had a major impact on the market growth.
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Data Bridge Market Research analyses a growth rate in the global rhinitis market in the forecast period 2022-2029. The expected CAGR of global rhinitis market is tend to be around 4% in the mentioned forecast period. The market was valued at USD 12.64 billion in 2021, and it would grow upto USD 17.30 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Rhinitis is the inflammation and swelling of mucous membrane lining of the nose. The epithelial lining contains hairs that produce mucus to trap dust & dirt, to filter the incoming air, and contain sensory receptors that trigger the sneeze reflex to expel any irritants. When the lining inflamed and irritated, it triggers symptoms in the nose and surrounding structures such as rhinorrhea (runny nose), and sneezing among others.
Opportunities
Increasing Demand for Retail Pharmacies
Rise in the number of rhinitis therapeutics being delivered through retail pharmacies and surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.
Asia-Pacific has been witnessing a positive growth for global rhinitis market throughout the forecasted period due to greater awareness about this disease & its treatment, and number of generic drugs. North America dominates the market due to the increased incidence of allergic reactions. Europe anticipates second largest market share due to increased healthcare expenditure.
Some of the key players operating in the Rhinitis Market are Pfizer Inc.(U.S.), Merck KGaA (Germany), Sanofi (France), Biocare Medical, LLC (U.S.), Lilly (U.S.), Teva Pharmaceutical Industries (Israel), Mitsubishi Chemical Group Corporation (U.S.), Bristol-Myers Squibb Company (U.S.), GSK plc. (U.K.), Bayer AG (Germany), AstraZeneca (U.K.), Genentech, Inc (U.S.) among others.
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