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Global Antihistamine Drugs Market Will Grow At Highest Pace Owing To Rising Allergies Prevalence Globally

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Poonam
Global Antihistamine Drugs Market Will Grow At Highest Pace Owing To Rising Allergies Prevalence Globally

The global antihistamine drugs market is primarily driven by the increasing prevalence of allergic diseases and disorders across the world. Antihistamine drugs work by blocking the effects of histamine, a chemical released in the body during an allergic reaction. It helps in reducing symptoms associated with allergic reactions including itching, sneezing, runny nose and others. Some common antihistamine drugs prescribed include cetirizine, loratadine, fexofenadine and desloratadine. Older antihistamines such as diphenhydramine are also commonly used as sleep aids owing to their sedative properties.

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 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. Bayer AG and Pfizer Inc. hold a significant market share owing to their extensive portfolio of antihistamine drugs.

The rising prevalence of allergic diseases worldwide is fueling the demand for antihistamine drugs. According to a study, allergies currently affect over 1.6 billion people worldwide and is rising at an alarming rate. The increasing air pollution levels and changing lifestyle behaviors are major factors responsible for the surge in allergic disorders.

Technological advancements in drug delivery mechanisms have led to the development Global Antihistamine Drugs Market Demand of advanced formulations of antihistamine drugs including fast-dissolving tablets and oral films. These new delivery formats help in improving patient compliance by offering convenience and enhancing accessibility of treatment.

Market Trends

Combination drugs gaining traction - Pharmaceutical companies are focusing on developing innovative combination drug formulations containing antihistamines along with other medications to provide relief from comorbid symptoms. Thistrend is expected to continue in the coming years.

Nasal formulations in demand - With increasing pollution levels, nasal allergies have become highly prevalent. This has driven the demand for nasal spray and gel formulations of antihistamines for direct delivery to the nasal passages.

Market Opportunities

Emerging markets to drive future growth - Countries in Asia Pacific, Latin America, Africa and the Middle East offer high growth opportunities for antihistamine drugs owing to increasing healthcare expenditures and large patient pools.

Over-the-counter sales gaining momentum - Self-medication and easier access to OTC antihistamine drugs without prescriptions provide an avenue for companies to tap the large patient population resorting to homecare therapies.

Impact of COVID-19 on the Global Antihistamine Drugs Market

The COVID-19 pandemic had a moderate impact on the global antihistamine drugs market. During the initial outbreak, the market witnessed a slight decline due to supply chain disruptions and reduced manufacturing capacities. However, medical use of antihistamines in the treatment of COVID-19 symptoms such as fever, cough, allergies helped the market recover. Going forward, the antihistamine drugs market is projected to grow at a steady pace due to increasing prevalence of allergic conditions and consistent demand for these drugs. Manufacturers are focusing on expanding their product portfolios and ensuring seamless supply chains.

In terms of value, Europe has the highest concentration of the global antihistamine drugs market owing to factors such as high healthcare expenditure, presence of major players, and increasing allergies among the population. North America is another leading region for antihistamine drugs market due to rising R&D investments and developments in advanced formulations. The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is attributed to rapid economic development, growing medical needs of expanding middle-class, and strengthening healthcare infrastructure across Asian countries.

The Asia Pacific region is projected to be the fastest growing geographical region for the global antihistamine drugs market between 2024-2031. This is attributed to rising prevalence of allergies, improving access to healthcare facilities, growing medical tourism industry and expansion strategies of leading market players in emerging Asian countries. Countries like India, China, South Korea and others are becoming preferred destinations for clinical trials and manufacturing facilities. In addition, initiatives from governments to strengthen healthcare systems and increase healthcare spending will further aid the growth of antihistamine drugs market in Asia Pacific.

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