Global antihistamine drugs market is used for treating allergic reactions such as sneezing, itching, running nose and red swollen eyes. Antihistamine drugs work by blocking a chemical called histamine that the body releases during an allergic reaction. The demand for antihistamine drugs is increasing due to rising prevalence of allergic conditions like asthma, allergic rhinitis and atopic dermatitis.
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., Arlak Biotech, Aden Healthcare, Sandoz Group AG, Hikma Pharmaceuticals PLC, Dr. Reddy's Laboratories, and Cipla.
The key opportunities in the Global Antihistamine Drugs Market Demand include introduction of advanced antihistamine therapies for treating seasonal allergic rhinitis. Companies are investing in R&D to develop novel drug formulations such as intranasal sprays which provide fast relief. Technological advancements like development of fourth-generation antihistamine drugs are expanding treatment options.
Market Drivers
The rising cases of allergic conditions are a major factor driving the growth of global antihistamine drugs market. According to a study, over 50 million Americans reported having some form of allergy in 2018. Another driver is the increasing health awareness and better diagnosis of allergies. The improving healthcare infrastructure and growing healthcare expenditure in developing countries are also supporting the market growth.
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