Antihistamine Drugs Market – Overview
The increasing prevalence of a range of allergies has raised the demand for antihistamines to treat them. Reports that assess the healthcare industry have been presented by Market Research Future, which creates reports on numerous industry verticals that examine the market progress and forecasts. The market is projected to achieve a CAGR of 9.8% while amassing income valued at USD 280 million by the conclusion of the forecast period.
The increased growth pace observed in the pharmaceutical sector is expected to reinforce the market expansion of antihistamine drugs. The increased investment in the market by the leading players is expected to lay down favorable grounds for progress in the forecast period. Moreover, the elevated detection rates for allergies is expected to modify the expansion of the market in the projected period.
The segmental evaluation of the antihistamine drugs market is carried out on the basis of type, route of administration, indication, and end users. On the basis of types, the antihistamine drugs market comprises of non-sedating and sedating antihistamines. The sedating antihistamines are additionally sub-segmented into chlorpheniramine, brompheniramine, carbinoxamine, diphenhydramine, doxylamine, and others. The non-sedating antihistamines are additionally sub-segmented into loratadine, fexofenadine, loratadine ODT, and others. Based on the route of administration, the antihistamine drugs market is segmented into parenteral route, oral route, and rectal route. The parenteral route segmented is further segmented into subcutaneous, intramuscular, and intravenous route. The segmentation of the antihistamine drugs market based on indication comprises of urticaria, allergy, dermatitis, and others. The end user segmentation basis of the antihistamine drugs market comprises of clinics, pharmaceutical companies, hospitals, and others. Based on the region, the antihistamine drugs market is segmented into the Americas, the Middle East, Europe, Asia Pacific, and Africa.
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Detailed Regional Analysis
The regional assessment of the antihistamine drugs market covers regions such as the Americas, the Middle East, Europe, Asia Pacific, and Africa. The Americas region is in control of the principal share of the market owing to the intensifying occurrence of allergy rhinitis and growing demand for the diagnosis and treatment of allergic diseases. The European region is the next principal market that holds a prominent segment of the antihistamine drugs market. In the Asia Pacific region, the upsurge in demand for drugs for the treatment of allergies and skin diseases is motivating the market progress. Also, a considerable upsurge in the number of dermatology clinics established throughout the Asia Pacific region has been noted in the past few years. The high rates of allergic rhinitis and the expanding awareness concerning the treatments offered for allergy is poised to guide the growth of this market in the Asia Pacific region. The Middle East and African regional market are showing stable but optimistic development owing to the mounting prevalence of nasal allergies.
The increased transaction level in the market is expected to spur an accelerated level of growth in the market. The conception of prodigious competitive advantages is likely to support the progress of the market. A considerable ascension in the number of promoters in the market is estimated to form a beneficial outlook for market growth in the projected period. The relaxation of the barriers to the entry of new players in the market is expected to encourage the expansion of the market in the impending years. The surge in the market is credited to the presence of favorable market forces are expected to complement the development of the market. The positive reinforcement of the forces of demand and supply is expected to lift the market growth in the coming years. The synergies achieved in the manufacturing of the goods in the market are enhanced, leading to better growth prospects. The availability of productive resources is expected to further the progress of the market in the forecast period.
The significant competitors operating in the antihistamine drugs market are Sanofi (France), CVS pharmacy (U.S.), Bayer AG (Germany), Pfizer (U.S.), Johnson & Johnson Consumer Inc. (U.S.), Merck Sharp & Dohme Corp., (U.S.), and Prestige Brands Holdings, Inc. (U.S.)
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Published by Tanuja Kulkarni