April 21, 2024
Global Antihistamine Drugs Market

Global Antihistamine Drugs Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Allergies

The global antihistamine drugs market is primarily driven by the high and growing prevalence of allergic conditions across both developed and developing regions. Antihistamine drugs are used for treating various allergic conditions including allergic rhinitis, conjunctivitis, asthma, urticaria and atopic dermatitis. These drugs work by blocking the effects of histamine, a chemical released in the body during an allergic reaction. They help in reducing symptoms such as sneezing, itching, rashes and swelling that are associated with allergies. Moreover, there is a growing demand for second-generation and third-generation antihistamine drugs due to their improved safety profiles as compared to first-generation drugs. The rising awareness regarding available treatment options for allergies has also contributed to the growth of this market.

The Global antihistamine drugs market is estimated to be valued at US$ 78.89 BN in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the global antihistamine drugs market are Bayer AG, Almirall S.A, GlaxoSmithKline, Johnson and Johnson, Sanofi, Pfizer Inc., Sun Pharmaceutical Industries Limited, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Abbott Laboratories, Viatris Inc. Key players operating in the global antihistamine drugs market are Bayer AG, Almirall S.A, GlaxoSmithKline, Johnson and Johnson, Sanofi, Pfizer Inc., Sun Pharmaceutical Industries Limited, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Abbott Laboratories, Viatris Inc., Arlak Biotech, and Aden Healthcare.

The key opportunities in the global antihistamine drugs market include new product launches, increasing research to develop advanced treatment options, and expansion of manufacturing and distribution networks globally. Furthermore, the growing adoption of advanced and highly effective biologic and small molecule antihistamines worldwide offers lucrative opportunities.

Globally, the prevalence of allergic conditions has risen significantly owing to changing environmental conditions, pollution levels, Global Antihistamine Drugs Market Demand lifestyles and diet. This has created the need for expanded access to diagnosed and treatment of allergies across geographies. Major players are making strategic investments and forays into emerging markets to tap growth opportunities.

Market Drivers

The global antihistamine drugs market is primarily driven by the high and growing prevalence of allergic rhinitis globally. As per recent estimates, over 10-30% of the population suffers from allergic rhinitis worldwide. Other allergic conditions including asthma, atopic dermatitis and conjunctivitis are also on the rise. This has significantly increased the demand for antihistamine therapies. In addition, favorable government initiatives and rising awareness regarding available medical management of allergies is boosting the adoption of antihistamine drugs especially in developing regions. Furthermore, the introduction of novel targeted and highly effective biologic formulations by major players is expected to propel the market growth during the forecast period.

PEST Analysis

Political: Entry of new generic drug and biosimilars in the market increases competition which puts downward pressure on prices of branded drugs. Regulations supporting affordable healthcare growth the market.

Economic: Increasing disposable incomes in emerging nations expands patient access to antihistamine drugs for allergy treatment. Growth in health insurance coverage fuels market revenues.

Social: Rising environmental pollution and change in lifestyle leading to increased allergic conditions and asthma cases drives demand. Growing health consciousness makes people seek better treatment options.

Technological: Advancements in drug delivery systems helps improve drug absorption and effectiveness. Digital health solutions aid patients to remotely monitor symptoms and medication intake. Developments in biologics open new opportunities.

North America accounts for the largest share of the global market owing to the presence of major pharmaceutical companies, strong healthcare infrastructure, and rising allergic patient population. The US holds the major market share in the region.

The Asia Pacific region is estimated to be the fastest growing market during the forecast period due to expanding patient base, increasing investments by market players, rising urbanization and pollution levels. Rapid economic development in countries like China and India boosts healthcare spending and demand.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.