FMI Insights: Nasal Antihistamines Market on Track to Attain US$ 3.23 Billion by 2033, with a 4.6% CAGR

By the year 2023, the nasal antihistamines market is poised to achieve a valuation of approximately US$ 2.06 billion, driven by an anticipated Compound Annual Growth Rate (CAGR) of 4.6%. The sales of nasal antihistamines are expected to witness substantial growth, potentially reaching an impressive US$ 3.23 billion by 2033.

Nasal antihistamines are pharmaceutical agents designed to target histamine receptors within cells. In addition to their effectiveness in treating seasonal allergies, they are also effective in managing chronic allergies and various recurring illnesses. Histamine, an immunological substance produced by the immune system in response to allergens or histamine-containing foods, plays a pivotal role in these treatments.

The global burden of respiratory diseases such as allergic rhinitis, chronic obstructive pulmonary disease, asthma has increased rapidly in the last three decades. In an article published in NCBI, it was reported that around 20–30 % of the Indian population suffers from allergic rhinitis and that 15 % develop asthma.

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Due to this growing burden, there has been an increased adoption rate of nasal antihistamines in the form of nasal sprays and nasal drops, globally. The nasal antihistamines provide rapid and effective relief from the symptoms of allergic rhinitis. Thus, the growing number of allergic rhinitis cases will propel the growth of the nasal antihistamines market in the future.

Advancements in the field of nasal drug delivery have enabled the establishment of several non-invasive approaches for treatment. Various new products such as metered dose delivery systems, innovative odorless powders and sprays, preservative-free nasal sprays and others are key drivers that will expand this industry in the forecast period.

FDA approvals of various nasal sprays to switch from prescription to OTC use has led to increased independence concerning self-administration of drugs, amongst patients who suffer from allergic rhinitis. Various additions by the manufacturers to the already available product lines, especially for AR are some of the techniques used by the manufacturers to increase product penetration amongst the population.

New product launches & approvals have emerged as key growth strategies adopted by the leading players in the nasal antihistamines market. Followed by this, the acquisition was the second most key strategy adopted by the industry Click Here to Request Methodology!
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players. By adopting these strategies, it helped the company to expand their regional presence as well as product offerings.

For instance, In December 2020, GlaxoSmithKline launched Otrivin Breathe clean, a saline wash with the moisturizing benefit of natural glycerine as a product for the symptomatic relief of allergic rhinitis.

Such developments not only strengthens the company’s existing portfolio but also help to increase their presence at the regional as well as global level, and helps companies to sustain the increasing competitive pressure.

Key Takeaways from Nasal Antihistamines Market Study

• By pProduct, nasal sprays accounted for the largest share of 89.0% in 2021 and are expected to continue to grow at the same trend during the forecast period.
• By age group, adults accounted for the largest share in 2021 of the nasal antihistamines market and are expected to continue to grow at the same trend during the forecast period.
• By distribution channel, the retail pharmacies segment is expected to account for the largest share of 41.0% in 2021 of the nasal antihistamines market and is expected to continue to grow at the same trend during the forecast period.
• By region, East Asia held the largest share of 23.0% in 2021 of the nasal antihistamines market. The growing awareness regarding allergies and developing healthcare infrastructure are some of the factors that fuel the high market share of this region.

Who is Winning?

Some of the leading manufacturers of the nasal antihistamines market are focusing on product launch collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.

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• In April 2021, Merck & Co. acquired Pandion Therapeutics, Inc which is a U.S. based clinical-stage biotechnology company for US $ 1.85 Bn. With this acquisition, Merck strategizes to identify and secure candidates with differentiated and potentially found characteristics for the clinical trials that would be required for their new product launches. This will ensure smooth conduction of clinical trials and thus help the company to expand their business.
• In April 2020, Cipla receives final approval for a generic version of Proventil® HFA Inhalation Aerosol, from the United States FDA. With this approval, the company strengthened their presence in the US pharmaceutical market

The key market players covered by FMI include Bayer Healthcare LLC, Novartis International AG, Cipla, Glenmark Pharmaceuticals, GlaxoSmithKline, Sun Pharmaceuticals, Merck & Co., Centaur Pharmaceuticals, Viatris (Meda Pharmaceuticals), Proctor & Gamble, Ascend Laboratories LLC (Alkem Laboratories), J Pharmaceuticals, Alitair Pharmaceuticals and Sato Pharmaceuticals.

Nasal antihistamines by Category Product:

• Nasal Spray
• Nasal Drops

Age Group:

• Adult
• Pediatric

Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Online Stores

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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