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.
Loratadine Industry Segmentation
As per the scope of the report, Loratadine is a long-acting, non-sedating antihistamine drug that is used in the treatment of allergies. Histamine is the primary cause of many symptoms of allergy. Loratadine is generally used in the treatment of hay fever, urticaria, allergic skin rash, and other allergies. The Loratadine Market is segmented by Type (Tablets, Capsules, and Syrup), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
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| Tablets | |
| Capsules | |
| Syrup |
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Global Loratadine Market Size Summary
The loratadine market is poised for growth, driven by an increasing prevalence of allergies and ongoing research and development in allergy treatments. The market's expansion is supported by the drug's wide application in managing various allergic conditions, including allergic rhinitis and conjunctivitis, which are exacerbated by factors such as climate change and pollen exposure. The COVID-19 pandemic has also influenced the market, as loratadine's potential effectiveness in treating COVID-related symptoms has been a subject of study. Despite the presence of side effects and alternative treatments, the market continues to grow, with loratadine tablets expected to hold a significant share due to their ease of use, cost-effectiveness, and stability.
North America is anticipated to experience substantial growth in the loratadine market, attributed to its robust healthcare infrastructure, high allergy prevalence, and active market players. The region benefits from increased awareness initiatives and a high adoption rate of antihistamines like loratadine, driven by the need to address allergy and asthma attacks. The global market remains highly competitive, with key players focusing on product innovation and geographical expansion. Ongoing clinical trials and regulatory approvals further support market growth, as companies like Bayer AG, Pfizer Inc., and others continue to explore new applications and formulations of loratadine.
Global Loratadine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Burden of Allergies Around the World
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1.2.2 Research and Development in Loratadine Combinations
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1.3 Market Restraints
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1.3.1 Side Effects and Availability of Alternatives
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Type
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2.1.1 Tablets
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2.1.2 Capsules
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2.1.3 Syrup
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Rest of the World
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Global Loratadine Market Size FAQs
What is the current Global Loratadine Market size?
The Global Loratadine Market is projected to register a CAGR of 2% during the forecast period (2024-2029)
Who are the key players in Global Loratadine Market?
Bayer AG , Pfizer Inc. , Cadila Pharmaceuticals, Sun Pharmaceutical Industries Ltd. and Viatris Inc. are the major companies operating in the Global Loratadine Market.
