US Allergic Rhinitis Treatment Market Value to See Fourfold Increase by 2018
Published Date : 06-Oct-2014
The US market value for allergic rhinitis treatment will rise rapidly from $172.5 million in 2013 to $688.25 million by 2018, at an impressive Compound Annual Growth Rate (CAGR) of 31.88%, according to research and consulting firm GlobalData.
The company’s latest report states that this fourfold increase will be driven by the expansion of allergen immunotherapy options, particularly the introduction of allergen immunotherapy tablets (AITs). Another key factor will be the market entrance of Merck, as European players look to target the US through licensing agreements following continuing economic and regulatory constraints in the EU.
Claire Gibson, Ph.D., GlobalData’s Analyst covering Cardiovascular and Metabolic Disorders, says: “The US allergy immunotherapy market will be invigorated by the launches of three sublingual immunotherapy tablets this year, namely two grass tablets, Greer’s Oralair and Merck’s Grastek, and the latter’s ragweed allergy tablet Ragwitek.
“These new products offer a more convenient dosing regimen than existing therapies, addressing a significant unmet need. The US specific immunotherapies market has previously been restricted to subcutaneous formulations, which must be administered in a clinical setting.”
The analyst adds that the higher profit margins associated with AITs compared with subcutaneous therapies will boost the US market size, even if uptake is minimal. US physicians may be financially disincentivized to prescribe AITs due to a lack of revenue from physician visits, which could limit uptake.
While Greer currently holds the largest share of the US allergen immunotherapy market, Merck is set to become the leading player over the forecast period. Despite only entering the market in 2014, GlobalData expects the company to achieve $385.6 million in sales by 2018.
Gibson comments: “Merck’s reputation and presence in the allergic rhinitis field, primarily from marketing Singulair, will afford it access to the relevant medical professionals and enable it to target other possible prescribers, including ear, nose and throat, and respiratory specialists.”