Anti-Allergic Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: April 04, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 15.77 billion |
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Revenue Forecast in 2031 |
US$ 29.24 billion |
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CAGR |
7.1% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Allergy Type, Medication, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global anti-allergic drugs market was valued at US$ 15.77 billion in 2022 and is expected to register a revenue CAGR of 7.1% to reach US$ 29.24 billion by 2031.
Anti-Allergic Drugs Market Fundamentals
The anti-allergic drugs refer to those medications used to treat allergies. Allergies are a common medical condition that affects millions of people worldwide. They occur when the immune system overreacts to a foreign substance, such as pollen, pet dander, or certain foods. Allergies are an overreaction by your immune system to a substance or food that is not considered harmful to most other people.
Anti-allergic drugs are designed to alleviate the symptoms of allergies and prevent the immune system from overreacting. Several classes of anti-allergic medications include antihistamines, corticosteroids, mast cell stabilizers, decongestants, and leukotriene modifiers. These drugs target different parts of the immune system and reduce the severity of allergic reactions.
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Anti-Allergic Drugs Market Dynamics
The rising incidence of allergies and allergic diseases, such as asthma, allergic rhinitis, and atopic dermatitis, is a major driver for the global anti-allergic drugs market. For instance, according to the Asthma and Allergy Foundation of America's April 2022 factsheet, every year, more than 100 million individuals in the United States suffer from various forms of allergies, and allergies are the sixth greatest cause of chronic illness in the country. The development of new and effective anti-allergic drugs, along with the increasing focus on research and development activities, is also expected to boost the demand for anti-allergic drugs. Additionally, the market for over-the-counter (O.T.C.) anti-allergic drugs is increasing, owing to their ease of availability and convenience. It is also fueling the growth of the anti-allergic drugs market. Besides, growing awareness about allergies, their causes, and their symptoms is also boosting the demand for anti-allergic drugs.
However, some anti-allergic drugs can cause side effects such as drowsiness, dry mouth, and dizziness, limiting their usage and affecting the market revenue growth. Furthermore, in developing countries, a lack of awareness about allergies and the unavailability of proper healthcare facilities can hinder the development of the anti-allergic drugs market. Additionally, patent expirations and generic medication market competition impede the overall anti-allergic drugs market revenue growth.
Anti-Allergic Drugs Market Ecosystem
The global anti-allergic drugs market is analyzed from four perspectives: allergy type, medication, distribution channel, and region.
Anti-Allergic Drugs Market by Allergy Type
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Based on the allergy type, the global anti-allergic drugs market is segmented into eye allergies, rhinitis, asthma, skin allergies, food allergies, and other allergies.
The rhinitis segment dominated the market with the principal revenue share in 2022, attributed to its rising prevalence. Rhinitis is characterized by inflammation of the nasal cavity lining, leading to symptoms such as runny nose, sneezing, and congestion. Pollen, dust mites, and pet dander can cause it.
The eye allergies segment also had a major revenue share. Eye allergies, also known as allergic conjunctivitis, are caused by an allergic reaction to various allergens, including pollen, pet dander, dust mites, and mold. Exposure to infected people, fomite contact (e.g., towels, napkins, pillow covers, slit-lamp chin rests and handles), contact lens usage, sinusitis, immunodeficiency states, past ocular illness, trauma, and birth exposure to sexually transmitted disease agents are also some of the risk factors. Furthermore, some of the most prevalent bacteria causing eye allergies include Staphylococcus, Streptococcus, Corynebacterium, Haemophilus, Pseudomonas, and Moraxella species. These aspects contribute to the revenue growth of the eye allergies segment.
Anti-Allergic Drugs Market by Medication
Based on the medication, the global anti-allergic drugs market is segmented into corticosteroids, decongestants, mast cell stabilizers, antihistamines, and others.
The antihistamines segment accounts for the largest revenue share of the market owing to its easy availability as an over-the-counter medicine. When allergens like pollen or pet fur trigger these receptors, histamine is released, resulting in allergy symptoms like a rash, sneezing, a runny nose, or a constriction of the airways. Antihistamines help alleviate these symptoms by inhibiting histamine release, which causes allergic symptoms such as itching, sneezing, runny nose, and watery eyes. Antihistamines are available in both prescription and over-the-counter forms. First-generation antihistamines, such as diphenhydramine (Benadryl) and chlorpheniramine (Chlor-Trimeton), have been on the market for many years and can cause drowsiness as a side effect. Second-generation antihistamines, such as cetirizine (Zyrtec), loratadine (Claritin), and fexofenadine (Allegra), are less likely to cause drowsiness and are preferred by many patients. These factors also contribute to the revenue growth of the corticosteroid segment.
Similarly, the corticosteroids segment accounts for a significant market revenue share. Corticosteroids are synthetic drugs similar to the hormone cortisol, produced naturally by the body. They work by reducing inflammation and swelling in the body, which can help relieve allergy symptoms. Corticosteroids can be administered in different forms, including nasal sprays, inhalers, creams, and tablets. Nasal corticosteroids, such as fluticasone (Flonase) and mometasone (Nasonex), are commonly used to treat allergic rhinitis.
In contrast, inhaled corticosteroids, such as budesonide (Pulmicort) and fluticasone (Flovent), are used to treat asthma. Topical corticosteroids, such as hydrocortisone cream, are used to treat skin allergies, while oral corticosteroids, such as prednisone, treat severe allergic reactions. These aspects contribute to the revenue growth of the corticosteroid segment.
Anti-Allergic Drugs Market by Distribution Channel
Based on the distribution channel, the global anti-allergic drugs market is segmented into hospital, retail, and online pharmacy.
The retail pharmacy segment dominates the market with the largest revenue share in 2022, owing to the widespread availability of anti-allergic drugs in retail pharmacies, which makes it easier for patients to access these medications. The availability of O.T.C. anti-allergic drugs in retail pharmacies has also contributed significantly to the market's growth. O.T.C. drugs, such as antihistamines and decongestants, are readily available in retail pharmacies and can be purchased without a prescription. This makes it easier for patients to manage their allergy symptoms without visiting a doctor. Retail pharmacies are pharmacies that sell prescription and O.T.C. medications directly to consumers. These overall factors contribute to the revenue growth of the retail pharmacy segment.
The online pharmacy segment is expected to be the fastest-growing segment revenue during the forecast period, as it offers essential medicines to the patient at the patient's convenience at their house. Online pharmacies are pharmacies that sell prescription and over-the-counter medications over the internet. They provide patients with a convenient way to purchase medications from the comfort of their homes and offer a wider range of products than traditional brick-and-mortar pharmacies. The online pharmacy segment revenue is driven by the increasing use of the internet and the growing demand for convenience among consumers. Online pharmacies offer a range of anti-allergic drugs, including prescription and O.T.C. drugs. These overall factors contribute to the revenue growth of the online pharmacy segment.
Anti-Allergic Drugs Market by Region
Based on region, the global anti-allergic drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global anti-allergic drugs market with the largest revenue share in 2022, attributed to the increasing number of innovative medicine approvals for allergy therapy and the increased frequency of numerous allergic disorders. For instance, according to the Food Allergy Research & Education's factsheet, 32 million Americans have food allergies. Every year, 200,000 individuals require emergency medical care due to allergic reactions due to food. Additionally, companies across the region are continuously involved in launching new and novel drugs as well as treatment methods for treating allergies which are also helping in the growth of the market. For instance, in May 2022, Perrigo Corporation plc, a leading producer of Quality, Affordable Self-Care Products, announced that Nasonex 24HR Allergy Relief had obtained final F.D.A. clearance for over-the-counter usage (mometasone furoate monohydrate 50mcg). This is the Company's first branded Rx-to-OTC switch approval, paving the road for Nasonex to join the O.T.C. market. Perrigo anticipates that Nasonex 24HR Allergies will be available later this year.
Competitive Landscape of the Global Anti-Allergic Drugs Market
The prominent players operating in the global anti-allergic drugs market are:
Strategic Developments in Anti-Allergic Drugs Market
The global anti-allergic drugs market was valued at US$ 15.77 billion in 2022.
The patent expirations and generic medication market competition are factors restricting the global anti-allergic drugs market revenue growth to its full potential.
The revenue CAGR of the anti-allergic drugs market during the forecast period will be 7.1% from 2023 to 2031.
Some prominent players operating in the global anti-allergic drugs market are Sanofi S.A., GlaxoSmithKline plc, LETI Pharma, S.L.U, and Novartis International AG.
The expected size of the global anti-allergic drugs market in 2031 is US$ 29.24 billion.
*Insights on financial performance are subject to the availability of information in the public domain