Antihistamine drugs play a crucial role in providing relief from various allergic conditions like nasal congestion, itchy eyes, asthma, hives etc. by blocking the effects of histamine, a chemical released by the body during an allergic reaction. Some common antihistamine drugs include cetirizine, loratadine, fexofenadine and diphenhydramine. These drugs are available both over the counter and prescription basis depending on the strength and ingredients. The global antihistamine drugs market is driven by the rising incidence of allergic diseases like allergic rhinitis, asthma and urticaria due to pollution, change in lifestyle and diet habits.
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., 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 are the development of novel drugs with lesser side effects, affordable pricing, and convenient dosage forms like nasal sprays, sublingual tablets etc. Technological advancements like advanced drug delivery systems, development of multi-target acting antihistamine molecules hold significant potential in the market.
Market Drivers
The growing Global Antihistamine Drugs Market Demand disorders like allergic rhinitis, asthma, atopic dermatitis among others is the major factor driving the growth of antihistamine drugs market. According to a report by World Allergy Organization, allergic rhinitis affects 10-30% of the global population. Moreover, increasing pollution levels, changes in climatic conditions, diet habits are fueling the incidences of allergic reactions. Other market drivers include rising awareness about available treatment options, growing healthcare expenditure in developing nations. Generic antihistamine drugs are also gaining popularity due to their cost-effectiveness.
Current challenges in Global Antihistamine Drugs Market
The Global Antihistamine Drugs Market is facing challenges due to increasing resistance to antihistamine drugs like first-generation antihistamines. First-generation antihistamines are ineffective for many people due to resistance developed against them with prolonged use. This leads to reduced efficacy of these drugs for treating allergic conditions like allergic rhinitis. Moreover, first-generation antihistamines are also associated with adverse effects like drowsiness which limits their usage. Additionally, patent cliffs of blockbuster antihistamine drugs is another challenge as it increases competition and reduces profit margins for companies. Strict regulatory pathways for approval of new antihistamine drugs also poses difficulties for market players in terms of time and costs involved.
SWOT Analysis
Strength: Wide range of drugs available from inexpensive generic first-generation to novel second-generation antihistamines. Second-generation antihistamines are effective with fewer side effects.
Weakness: Resistance to first-generation antihistamines leads to reduced efficacy. Strict regulations increase drug approval time and costs.
Opportunity: Large patient pool of allergic disorder provides major growth opportunity. Developing alternative delivery methods and new formulations can address unmet needs.
Threats: Patent cliff of blockbuster drugs allows generic competition hurting revenues. Potential safety issues reported for some drugs may impact brands.
In terms of value, the currently concentrated highly in North America and Europe. North America alone accounts for over 35% of the total market share owing to established healthcare infrastructure and relatively higher healthcare spending. Europe represents the second largest regional market led by countries like Germany, U.K and France. The antihistamine drugs market in Asia Pacific region is expected to witness the fastest CAGR over the forecast period due to rising allergies, growing healthcare spending of emerging economies and increasing accessibility of drugs in countries like China and India.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.