Loratadine Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the Loratadine Market according to our research experts:
Tablets Anticipated to Have Significant Market Growth Over the Forecast Period
Loratadine tablets are anticipated to have a significant share of the types of drugs. This is primarily due to ease of administration and availability of huge, approved tablet forms. The drug is used with various combinations such as pseudoephedrine, ambroxol, and others in the treatment of cough and other related allergies. The tablets segment is estimated to witness healthy growth in the future, owing to the wide availability of drugs, low cost of manufacturing, ease of administration, and convenience in storage. Tablets are durable, long-lasting, stable, and typically have a longer shelf life than capsules. A single tablet can accommodate a higher dose of an active ingredient than a single capsule. Increasing research and development in the field of allergy are boosting the market growth. For instance, as per the article published in 2021 under the title 'A Comparative Study on In-vitro Quality Control Parameters of Different Brands of loratadine Tablets Commercially Available in Bangladesh', all the test results obtained from the loratadine tablet were within the official limit provided by the pharmacopeia. It indicated that these formulations are likely to generate the required antihistamine effects in patients.
Factors such as rapid climate change, and an increase in grass pollen production are primary causing factors for many allergies such as hay fever, allergic conjunctivitis, and others. For instance, as per the article published in 2021 under the title 'Allergic Contact Dermatitis', allergic contact dermatitis is common, occurring in up to 1 in 5 people. Moreover, growing R&D initiatives to test the various combinations of loratadine in the treatment of diseases are anticipated to fuel the market growth over the forecast period.
Because of the aforementioned factors, the tablet segment is anticipated to face growth in the loratadine market over the forecast period.
North America is Anticipated to Have Significant Growth
North America is anticipated to have a significant growth rate owing to its well-established healthcare infrastructure, presence of key market players manufacturing and marketing loratadine, and high prevalence of allergies in the region. In addition, the growing adaptation of loratadine and active pipelines is anticipated to boost regional growth over the forecast period. According to the 2022 report from the Asthma and Allergy Foundation of America, around 25 metropolitan areas are under the high-risk category for allergy attacks.
Increased initiatives for providing awareness regarding allergies by the government are fueling market growth. For instance, World Allergy Organization conducted world allergy week in 2022 from June 5th to 11th. The awareness week provides a need for greater attention and provides physicians and the public with a webinar, infographic, and additional information to educate and spread awareness on the allergy. As per the Asthma and Allergy Foundation of America (AAFA), Allergy Capitals Report March 2022, Scranton in Pennsylvania ranked 1 in the allergy population. As per the same source, more than 50 cities are on average at risk for allergy attacks. The same report emphasizes that there is a public health emergency since communities all over the country are experiencing the negative effects of climate change on their health in the United States. Asthma patients include children, adults, seniors, expecting moms, people of color, members of low-income groups, individuals with disabilities, and many more. Since there is more population affected with allergy and asthma attacks the adoption of antihistamines like loratadine is high there owing to the market growth. As per the factors mentioned above, North America Market is expected to grow over the forecast period.
Loratadine Industry Overview
The global loratadine market is highly fragmented and competitive. Market players are focusing on new product launches, product innovations and geographical expansion to strengthen its market share. The key market players operating in the market include Bayer AG, Cadila Pharmaceuticals, Morepen Laboratories Ltd, Mylan N.V. and Pfizer Inc. among others
Loratadine Market Leaders
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Bayer AG
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Pfizer Inc.
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Cadila Pharmaceuticals
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Sun Pharmaceutical Industries Ltd.
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Viatris Inc.
*Disclaimer: Major Players sorted in no particular order
Loratadine Market News
- In January 2022, a clinical trial is sponsored by Institut d'Investigació Biomèdica de Bellvitge under the title "Effect of Loratadine in Lymphangioleiomyomatosis (LORALAM)", the trial is assessing the safety and potential benefits of loratadine in LAM, which is a rare and lethal disease characterized by progressive cystic lung destruction.
- In January 2021, JB Chemicals and Pharmaceuticals received approval from the US health regulator to market Loratadine tablets, used to treat allergies, in the American market.
Loratadine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Allergies Around the World
4.2.2 Research and Development in Loratadine Combinations
4.3 Market Restraints
4.3.1 Side Effects and Availability of Alternatives
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Type
5.1.1 Tablets
5.1.2 Capsules
5.1.3 Syrup
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South Korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bayer AG
6.1.2 Cadila Pharmaceuticals
6.1.3 Morepen Laboratories Ltd
6.1.4 Viatris Inc.
6.1.5 Pfizer Inc.
6.1.6 Perrigo Company PLC
6.1.7 Sun Pharmaceutical Industries Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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.
| By Type | |
| Tablets | |
| Capsules | |
| Syrup |
| Geography | ||||||||
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| Rest of the World |
Loratadine Market Research 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.
Which is the fastest growing region in Global Loratadine Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Loratadine Market?
In 2024, the North America accounts for the largest market share in Global Loratadine Market.
What years does this Global Loratadine Market cover?
The report covers the Global Loratadine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Loratadine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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