The global allergy medicine market is anticipated to grow at a significant CAGR during the forecast period. Allergy medicine supports to block a certain natural substance such as histamine that the body makes during an allergic reaction. It works by drying allergic symptoms such as watery eyes and a runny nose by blocking another natural substance made by the body such as acetylcholine. The major factor for the growth of the market during the forecast period is the increasing prevalence of various types of allergies.
Moreover, the market is also growing due to the new product launches. For instance, in March 2018, Dr Reddy’s Laboratories launched an ant- allergic drug, levocetirizine dihydrochloride, in tablet form in the US market. It is an over-the-counter therapeutic equivalent generic version of UCB’s Xyzal allergy tablets for treating and relieving allergies. Additionally, in January 2020, Aimmune Therapeutics received approval for Palforzia [Peanut (Arachis hypogaea) Allergen Powder-dnfp] from the US FDA. It is used for the treatment of peanut allergy in children.
Some major players in the market include Johnson & Johnson Services, Inc., Sanofi SA, and GlaxoSmithKline plc, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2020, Cadila Pharmaceuticals Ltd. announced the launch of Bilastine syrup (30 ml) and Bilastine tablets in the strength of 20mg. It is an antihistamine drug used in the treatment of allergic rhinitis.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Type
- By Distribution Channel
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Johnson & Johnson Services, Inc., Sanofi SA, and GlaxoSmithKline plc, among others.
Allergy Medicine Market Report by Segment
By Type
- Eye Allergy
- Rhinitis
- Asthma
- Skin Allergy
- Food Allergy
- Other
By Distribution Channel
- Retail Pharmacy
- Online Pharmacy
- Others
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Allergy Medicine Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
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