Market Size of Global Loratadine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Loratadine Market Analysis
The loratadine market is expected to record a CAGR of 2% over the forecast period (2022-2027).
The COVID-19 outbreak significantly impacted the healthcare sector. As per the article published in 2022 under the title 'Long-COVID treatments: why the world is still waiting', a study known as 'STIMULATE-ICP' examined various medications in the United Kingdom against the activity of extended COVID. The first-round candidates received the anti-inflammatory colchicine and then two antihistamines, called famotidine and loratadine followed by an anticlotting drug, called rivaroxaban. The effectiveness of loratadine in COVID-19 is widely studied since it comes under the category of antihistamines. Hence, COVID-19 had a significant impact on the loratadine market.
The loratadine market is primarily driven by the change in lifestyle, a growing burden of allergies that trigger the hypersecretion of histamine. The market is expanding because of an increase in allergy incidences as well as research and development projects in allergies. According to the Centers for Disease Control and Prevention's 2020 update, allergic rhinitis symptoms appear only during certain seasons or all year round, affecting as many as 60 million Americans annually, depending on the allergen. According to the same source, exposure to pollen is anticipated to cause allergic conjunctivitis symptoms. Conjunctival inflammation brought on by exposure to allergens like those found in pollen is known as allergic conjunctivitis. In 2020, it was estimated that up to 30% of the general population and 7 out of 10 allergic rhinitis sufferers would develop allergic conjunctivitis.
Moreover, wide applications of the drug coupled with the growing usage of loratadine in various types of allergies are anticipated to boost the market growth over the forecast period. In addition, continuous development in loratadine drugs is projected to drive the growth of the market.
As per the aforementioned factors, the loratadine market is likely to grow over the forecast period. However, side effects and availability of alternatives to loratadine restrain the market growth.
