April 17, 2024
Global Antihistamine Drugs Market

The Global Antihistamine Drugs Market Is Estimated To Driven By Growing Prevalence Of Allergies

The global antihistamine drugs market comprises various pharmaceutical products that provide relief from allergies by blocking histamine receptors. Antihistamine drugs are available in various forms including tablets, capsules, syrups, and topical creams. They work by inhibiting the effects of histamine, a chemical released during an allergic reaction. This prevents symptoms such as sneezing, itching, watery eyes, and runny nose associated with conditions like hay fever, hives, and eczema. The growing prevalence of allergic diseases and increasing awareness about their treatment have fueled the demand for antihistamine drugs globally.

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: 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.

Growing demand: The growing prevalence of allergic diseases and changing lifestyles leading to increasing pollution levels have fueled the demand for antihistamine drugs Global Antihistamine Drugs Market Demand According to statistics, more than 25% of the global population suffers from allergies.

Global expansion: Leveraging the improving access to healthcare in emerging nations, leading drug makers are expanding theirglobal footprints through partnerships and licensing agreements. New product launches catering to unmet needs also support the market growth.

Market key Trends

One of the key trends emerging in the global antihistamine drugs market is the increased demand for combination therapies. Leading manufacturers are focusing on developing drugs that can provide relief from multiple allergy symptoms with a single pill. Another notable trend is the rising popularity of novel delivery systems. Topical patches and sublingual tablets that offer faster relief are gaining traction. Furthermore, there is growing interest in developing non-sedating antihistamines to overcome the side effect of drowsiness associated with many traditional products. Sustained investments in R&D are also expected to yield safer and more effective treatment options in the coming years.

Porter’s Analysis

Threat of new entrants: New players find it difficult to enter the market due to stringent regulations regarding clinical trials and manufacturing approvals.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and existence of many branded and generic players.

Bargaining power of suppliers: Suppliers have low bargaining power due to the availability of substitutes for raw materials.

Threat of new substitutes: Substitutes like corticosteroids, anti-leukotriene medications pose low threat due to their specificity for specific conditions.

Competitive rivalry: The market is highly competitive with presence of many global and local players.

Geographical Regions

North America accounts for the largest share of the global market in terms of value due to high healthcare spending and robust penetration of prescription drugs.

Asia Pacific is poised to be the fastest growing region due to rising healthcare expenditure, increasing incidence of allergic diseases, expanding patient pool, and presence of generic manufacturers.

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