Drug allergy Market Synopsis
The current report by Market Research Future (MRFR) asserts that the global drug allergy market 2020 is slated to acquire a substantial market valuation of USD 4.7 billion by 2023, at a moderate 5.1% CAGR over the review period.
Drug allergy Market Drivers and Restraints
Growing awareness about numerous allergies, the introduction of the new treatment of products, and growing demand from developing markets drive the growth of the global market. Further research to prevent drug allergies is another crucial driver for the market. The global drug allergy market is increasing moderately and is anticipated to continue its growth over the forecast period.
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Drug allergy Market Segmentation
The global drug allergy market is analyzed on the basis of type, which comprises of nonimmunologic, immunologic, and others. Immunologic allergy is sub-segmented into type II reaction, type IV reaction, type I reaction, type III reaction, and others. The non-immunologic allergy is sub-segmented into unpredictable, predictable, and others. The predictable allergy is further segmented into secondary pharmacologic side effects, pharmacologic side effects, drug toxicity, drug overdose, drug-drug interactions, and others. The unpredictable segment is further sub-segmented into idiosyncratic, pseudoallergic, intolerance, and others.
On the basis of diagnosis, the drug allergy market is segmented into blood tests, skin tests, patch tests, and others. The skin test is further segmented into the intradermal test, prick or scratch test, and others.
On the basis of treatments, the drug allergy market is segmented into corticosteroids, antihistamines, withdrawal of the drug, treatment of anaphylaxis, and others. Antihistamines are further sub-segmented into azelastine nasal sprays, cyproheptadine, carbinoxamine, desloratadine, emedastine eyedrops, diphenhydramine, hydroxyzine, levocabastine oral, azelastine eyedrops, levocabastine eyedrops, and others. Corticosteroids is further sub-segmented into inhaled steroids, topical steroids, and others. Inhaled steroids are further segmented into flunisolide, fluticasone propionate, fluticasone furoate, triamcinolone acetonide, budesonide, beclomethasone dipropionate, and others.
On the basis of end-user, the market is segmented into medical research centers, hospitals & clinics, academic institutes, and others.
Drug allergy Market Regional Overview
The geographical overview of the global drug allergy market has been conducted in four major regions, specifically North America, Europe, the Asia Pacific, and the rest of the world (including Latin America and the Middle East and Africa).
The Americas lead the global market for drug allergy. The Americas mainly include Latin America and North America, out of which North America accounts for the maximum market share of this region. The US is the top revenue-generating market in North America and is one of the critical markets for global drug allergy treatment. Approximately 10% of the total US population has drug allergies. Latin America’s drug allergy market is also growing significantly and mainly includes Brazil, Argentina, and Chile. Europe is the second-largest market in the globe owing to increasing cases of drug allergy.
Europe is primarily divided into Eastern Europe and Western Europe. More developed Western European countries like UK, Germany, and France are leading this market while the East European region is also rising significantly. Growing cases of drug allergies are one of the substantial factors for the progress of the European market.
Asia Pacific region is experiencing the fastest growth rate in the global drug allergy market due to some significant factors such as availability of treatment products, increasing awareness about various drug allergies, and rapidly improving healthcare facilities. Japan is holding a noteworthy market share, while China’s drug allergy market is anticipated to show the fastest growth in this region. Varying healthcare practices and growing patient involvement play a vital role in the expansion of this market.
The Middle East & Africa is anticipated to witness limited growth due to a lack of awareness about diseases, traditional healthcare practices, among others. The Middle East region leads the regional market due to some of the significant factors, such as the developed healthcare facilities and government support to improve public health.
Drug allergy Market Competitive Landscape
The top market players identified by MRFR in the global market are Bayer (US), AstraZeneca (UK), Circassia (US), Johnson & Johnson Services, Inc. (US), HAL Allergy Group (the Netherlands), Stallergenes Greer (UK), MAGNA Pharmaceuticals, Inc. (US), and others.
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