Global Nasal Antihistamines Market - 2022-2029

Global Nasal Antihistamines Market - 2022-2029

Market Overview

The global nasal antihistamines market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Antihistamines are medications that work by targeting histamine receptors on cells. They are used to treat chronic allergies as well as other recurring disorders, in addition to seasonal allergies. Histamine is an immunological substance secreted by the immune system in response to allergens or the consumption of histamine-deficient foods. In contrast, some foods can cause excessive histamine synthesis, resulting in an allergic reaction. Histamine binds to specific receptors in body cells, resulting in a stuffy nose, watery eyes, pain, itching, redness, and sneezing.

Market Dynamics

Increased stress and anxiety cases, rising pollution levels, and an increase in the number of allergic patients are key factors driving market revenue growth during the forecast period. Nasal medication administration has numerous advantages, including efficient and painless drug delivery, easy availability, and improved patient convenience, driving global demand for advanced nasal antihistamines. Other factors expected to impact nasal antihistamines market revenue growth in the future positively include rapid development in the healthcare sector, the presence of established players, rising investment in R&D to introduce novel products, and supportive government activities to promote health awareness.

High Demand for Over-The-Counter Drugs Influence Sales of Nasal Antihistamines

In developing countries such as India, China, Brazil, Mexico, and South Africa, there is a growing demand for generic medical products, compelling manufacturers to release effective and easily accessible nasal sprays and drops.

Lower prices and easy availability through medical and pharmaceutical outlets contribute to the high demand for these products. Many nasal antihistamines drugs are being de-patented, providing manufacturers with an excellent opportunity to introduce innovative and advanced nasal antihistamines to the market.Aside from that, the rising prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and allergic rhinitis is expected to fuel market growth.

Furthermore,the rising prevalence of allergic rhinitis is affecting the sales of nasal antihistamines. Allergic rhinitis (AR) has increased by 100 percent in the previous three decades, according to the American College of Allergy, Asthma, and Immunology (ACAAI). Moreover, 40% of the United States and Europe population is allergic to one or more inhalant allergens. Intensifying air pollution and increased allergen sensitivity are two possible factors for allergic rhinitis prevalence. According to epidemiological studies, the prevalence of allergic rhinitis has progressively increased in more industrialized countries, and it now affects 10%–40% of adults and 2%–25% of children worldwide. Similarly, due to rapid urbanization, westernized lifestyles, and changed eating preferences, allergic rhitinis has risen in recent decades, particularly in China. As a result, nasal antihistamine demand is expected to rise steadily over the projection period.

In addition, pharmaceutical companies' efforts in research & development, government initiatives to raise awareness about prevalent health disorders, and developments in healthcare infrastructure in various countries will continue to drive nasal antihistamine sales over the projection period.

Furthermore, new product releases and FDA clearance for prescription-based nasal sprays' over-the-counter (OTC) transition are expected to provide attractive prospects for key market participants. Collaboration with local players is also likely to assist corporations in expanding their regional footprint and product offerings.In June 18, 2021 Bayer has received FDA approval to market allergy nasal spray. Astepro will be the first antihistamine nasal spray for allergies to be sold over-the-counter in the United States with this permission.In december 2020, Novartis announced that the FDA had approved Xolair (Omalizumab) for adults with nasal polyps. These factors, as mentioned above, have a significant impact on the overall nasal antihistamines market.

Side effects associated with nasal antihistamines is likely to hamper the market growth

Nasal antihistamine side effects such as dizziness, dry mouth and nose, headache, and others limit nasal antihistamine sales.Any nasal antihistamines use is restricted because the government establishes guidelines to monitor how and where the antihistamines are utilized. This is expected to influence the market for nasal antihistamines negatively. Furthermore, these antihistamines have negative effects that may cause them to be used less frequently. To overcome these limitations, the market must continue to develop and upgrade.

COVID-19 Impact Analysis

The COVID-19 pandemic had a relatively beneficial impact on the nasal antihistamines market, as nasal dosing became more important as the epidemic progressed. However, sales of nasal antihistamines were hampered by closed transnational borders, lengthy customs processes, congested distribution networks, and a scarcity of supplies.The market is expected to recover over the projected period, as nasal sprays are becoming more popular in treating COVID-19. The increased use of self-medication during the lockdown period can be linked to the convenience of nasal delivery. These trends are expected to continue during the projected period, positively impacting nasal antihistamine demand.

Segment Analysis

The nasal spray segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The nasal antihistamines market is divided into sprays, drops, and gels based on dosage form type. The sprays segment is expected to generate the most revenue during the forecast period. Factors such as rising demand for antihistamine sprays over pills due to instant relief from congestion and runny nose and a reduced feeling of drowsiness as a result of their administration are expected to boost growth in this segment.

Many key players are releasing their new nasal sprays in the market. For instance, Glenmark Pharmaceuticals Limited, a research-led, global integrated pharmaceutical company, has announced the introduction of Ryaltris®-AZ Nasal Spray in India to treat moderate to severe allergic rhinitis. Glenmark, a market leader in the respiratory segment, was the first to introduce a branded generic version at an affordable price to treat allergic rhinitis in India. An increasing number of populations facing these nasal problems is a major factor contributing to the significant growth of the segment in the forecast period.

Geographical Analysis

North America region holds the largest market share of global nasal antihistamines market

The North American healthcare information exchange market is expected to have a considerable market share and is expected to dominate other regional markets throughout the forecast period. The rising prevalence of ailments such as nasal allergies and allergic rhinitis, the presence of modern healthcare infrastructure, and the availability of insurance coverage are expected to impact the market in this region positively. It was estimated that 21.1 percent of the pediatric population suffered from allergic rhinitis in 2020. Along with the growing use of nasal sprays, the presence of well-developed healthcare infrastructure in the United States will drive sales of nasal antihistamines over the assessment period.

The Asia-Pacific economy is expanding rapidly. India, China, Japan, and Australia are propelling the region's economic development. In China, rising per capita healthcare spending, favorable government policies, new product launches, and increased funding for life science research are expected to boost the nasal antihistamine market in the coming years. In India, consumers are increasingly using nasal antihistamine therapy to treat allergic rhinitis. In addition, new product launches in the country at lower costs are expected to provide growth opportunities for key market players and because most of the Indian population pays for healthcare out of pocket, generic products are preferred because they are more cost-effective. The abovementioned factors are expected to drive nasal antihistamine sales in India during the assessment period.

Competitive Landscape

The global market for nasal antihistamines is moderately competitive, with several major players. Bayer Healthcare LLC, Novartis AG, Glenmark Pharmaceuticals , Glaxo Smith Kline, Sun Pharmaceuticals, Cipla, Viatris, Alkem Laboratories, Centaur Pharmaceuticals and Sato Pharmaceuticals are among the market's major players. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the nasal antihistamines market globally. For instance, in May 2021, in India, Glenmark Pharma introduced Ryaltris, a nasal spray. Glenmark is a market leader in the respiratory segment and was the first to introduce the branded version at a low cost in India.

Key Developments

In July 2019 Pfizer Inc. and Mylan N.V. agreed to merge Mylan with Upjohn, Pfizer's off-patent branded and generic established pharmaceuticals business, to form Viatris Inc., a new global pharmaceutical corporation.

In December 2018,Procter & Gamble (P&G) completed the €3.4 billion ($3.8 billion) acquisition of Merck's Consumer Health business. It is intended to strengthen P&G's over-the-counter (OTC) brand portfolio and category footprint across 15 markets.

In April 2020, an Indian multinational pharmaceutical company, Cipla, announced that the US Food and Drug Administration (FDA) had granted final approval to its generic version of Proventil® High Functioning Autism (HFA) Inhalation Aerosol. The product approval will help the company strengthen its position in the US pharmaceutical market.

In December 2020, GlaxoSmithKline, a leading pharmaceutical company in India, has announced the launch of Otrivin Breathe clean, a saline wash natural nasal spray. Because it contains natural glycerin, it provides symptomatic relief from allergic rhinitis and moisturizing benefits.

Glenmark Pharmaceuticals Ltd

Overview:

Glenmark Pharmaceuticals Ltd is a manufacturer of specialty and generic drugs. The company's R&D activity focuses on creating intellectual property assets that will help address unmet medical needs. Novel molecular entities, formulations, and API products are among the product categories offered by Glenmark. Merger and acquisition investment is viewed as a potential component of its operational growth strategy for expanding its research, development, manufacturing, and marketing capabilities.

Product Portfolio:

Ryaltris-AZ Nasal Spray: Ryaltris-AZ Nasal Spray relieves symptoms such as a runny or blocked nose, sneezing, and itchy or watery eyes. This will make it easier for you to carry out your daily tasks. It rarely causes serious side effects, and you may only need to take it on days when you are experiencing symptoms. Ryaltris-AZ Nasal Spray contains two medications: Mometasone and Azelastine. Mometasone is an anabolic steroid. It is absorbed into the nose's inner surface cells and works by inhibiting the production of certain chemical messengers that cause inflammation (swelling) and allergies. This relieves a runny or blocked nose, sneezing, and sinus discomfort. Azelastine is a type of antihistamine. It alleviates allergy symptoms like runny nose, sneezing, and itching by blocking the effects of a chemical messenger (histamine) in the body.

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