Pune, India, January, 2019 /MRFR Press Release/- Market Research Future has a half cooked research report on the global nonallergic rhinitis market. The global nonallergic rhinitis market is growing continuously and is expected to grow at a CAGR of 5.3 % from 2017 to 2023.
Nonallergic rhinitis, also known as vasomotor rhinitis is a medical condition that refers to a set of symptoms that resemble nasal allergies and hayfever (allergic rhinitis) occurring without a known cause. Some of the symptoms of non-allergic rhinitis include Postnasal drip, Runny nose, Sneezing, and Stuffy nose among others. Some patients with nonallergic rhinitis may even develop allergies and asthma eventually, hence treating the condition well in time becomes essential.
Although causes triggering the non-allergic rhinitis are unknown, environmental irritants are considered as common triggers of this condition. Treatment of nonallergic rhinitis depends on its severity, for instance; for mild cases, home treatment and avoiding triggers may be enough whereas, for some typically serious conditions, certain medications are referred such as nasal antihistamines, oral decongestants, and over-the-counter (OTC) drugs or prescription medications.
There are a number of novel treatments already available in the market, that along with the several ongoing research activities to discover breakthrough therapeutics and drugs to treat the conditions drive the growth of the non-allergic rhinitis market. Moreover, major factors such as the rising prevalence of nonallergic rhinitis along with the increasing demand for diagnosis and treatment of conditions are escalating the market on the global platform.
Acknowledging the heightened growth, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global nonallergic rhinitis market is expected to register approximately 5.3% CAGR, creating a significantly larger revenue pocket throughout the assessment period (2017 – 2023).
Additional factors propelling the market growth include increasing population, urbanization, and industrialization led by the improving economic conditions that are expanding access to the quality healthcare, increasing healthcare expenditure. Furthermore, the burgeoning healthcare industry alongside the splendid research in the field of immunology boosts market growth.
On the other hand, factors such as the increasing competition among key players impede the market growth, acting as a barrier of new entrants. Nevertheless, factors such as the growing focus on the development of new medications and the increasing use of non-steroidal anti-inflammatory drugs (NSAIDs) are expected to support market growth throughout the review period.
Global Nonallergic Rhinitis Market - Segmentations
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Diagnosis: Physical Examination, Allergy Testing, and Imaging Test among others.
By Treatment: Nasal Sprays and NSAIDs among others.
By End-user: Hospitals & Clinics and Research Centers among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Nonallergic Rhinitis Market - Geographical Analysis
The North American region dominates the global nonallergic rhinitis market with a significant market share. The market is further expected to create a substantial revenue pocket growing at a considerable CAGR throughout the review period (2017-2023). Factors such as well-developed healthcare sector and increasing prevalence of nonallergic rhinitis coupled with the high per capita healthcare expenditures drive the growth in the regional market. Moreover, the consequent increase in the demand for new diagnostic and treatment services alongside the presence of key players in the region drives the market growth. Additionally, a well-spread awareness about morbidity due to nonallergic rhinitis positively influences the growth of the market in the region.
The European nonallergic rhinitis market accounts for the second largest market, globally. Factors such as the increasing demand for nasal sprays, and extensive research and development activities by clinical research and academic institutes for chronic diseases treatment drive the regional market. Germany and France due to the presence of key manufacturing companies for NSAIDs account for the major contributors for the market growth. A well-developed healthcare sector led by the resurging economy in the region drives the market growth predominantly.
The Asia Pacific region, heading with the increasing number of patients suffering from nonallergic rhinitis, is rapidly emerging as a promising market, globally. Moreover, factors such as the spreading awareness about the availability of processes for diagnosis and treatment of the disease drive the growth of the regional market. India, China, and Japan account for the major contributors to the growth of the market.
Furthermore, the increasing demand for nasal sprays and OTC medicines and the availability of highly qualified medical personnel dedicated to the research of chronic diseases pushes up the market growth.
Global Nonallergic Rhinitis Market – Competitive Analysis
Intensely competitive, the nonallergic rhinitis market appears fragmented owing to the presence of several large & small key players. These market players through strategic initiatives such as partnership, acquisition, expansion, collaboration, and product & technology launch try to gain competitive advantage. Substantial investments are being made in the R&D to develop a treatment procedure that is on a different level entirely compared to their competition.
Key players leading the global nonallergic rhinitis market include Novartis (U.S.), Boehringer Ingelheim GmbH (Germany), GlaxoSmithKline (U.K), Johnson & Johnson Consumer Inc. (U.S.), Perrigo Company plc (Ireland), Bayer (U.S.), and Sanofi (France) among others.
Industry, Innovation & Related News
November 08, 2018 – AstraZeneca Plc. (the UK), a multinational pharmaceutical and biopharmaceutical company announced the sale of its rights for asthma drug Alvesco (ciclesonide), nasal sprays Omnaris, and Zetonna (ciclesonide) to Covis Pharma (Switzerland) for USD 350MN.
AstraZeneca mentioned that it was its strategic objectives to divest parts of its portfolio which will allow the company to allocate resources to develop innovative new medicines to address unmet patient needs. Alvesco, Omnaris, and Zetonna which are used for the treatment of nasal symptoms associated with seasonal allergic and allergic/non-allergic perennial rhinitis will continue to benefit patients.
According to the agreement, Covis Pharma, a leading global player in the marketing of medicines will also make conditional sales-related payments for the three over-the-counter (OTC) drugs of up to USD 21 MN over four years from 2019.
June 04, 2018 – Daewoong Pharmaceutical Co., Ltd (South Korea), a bioengineering company operating as a subsidiary of Daewoong Co., Ltd., a global health care group launched a compound rhinitis treatment - Comekina (Mequitazine).
Browse Full Report @ https://www.marketresearchfuture.com/reports/nonallergic-rhinitis-market-5137 .