Overview:
Drug allergy can be taken into consideration as one of the most recorded types of allergies. It gets triggered by hypersensitivity of the immune system to particular types of drugs or medication. Prescription or non-prescription, even herbal drugs can trigger such scenarios. The symptoms of these allergies include skin rash, hives, swelling of the face, wheezing, itching of the eyes or skin, tongue, or lips, and others. The ttreatment, if taken in time, can prevent serious reactions and assist in getting relieved of the discomfort. The global market for drug allergies can witness growth with a CAGR of 5.1% and reach a predicted valuation of USD 4764 million by the end of 2023. Market Research Future (MRFR) has taken the time frame of 2018 to 2023 as the forecast period.
The market for the drug allergy is all set to score better growth rate in the coming years. People are fast becoming aware of various allergies and their understanding of it and new treatment procedures that can notably forward the market. People are also becoming aware of the promises shown by new research owing to which high ingress of various market factors are expected to promise better growth rate.
Segments:
The global market report on the drug allergy market provides ample scope of understanding by having it segmented by type, diagnosis, treatment, and end user.
By type, the global market report for drug allergy includes immunologic, nonimmunologic, and others. The Immunologic allergy segment can be sub-segmented by type I, type II, type III, type IV, and others. The non-immunologic allergy has segments like unpredictable, predictable, and others. The predictable allergy includes secondary pharmacologic side effect, pharmacologic side effect, drug overdose, drug-drug interactions, drug toxicity, and others. The unpredictable segment can be segmented into intolerance, idiosyncratic, pseudoallergic, and others.
By diagnosis, the market report for drug allergy can be segmented into patch test, blood tests, skin tests, and others. The skin test includes intradermal test, prick or scratch test, and others.
By treatments, the market for global drug allergy can be segmented into corticosteroids, antihistamines, withdrawal of the drug, treatment of anaphylaxis, and others. The antihistamines includes azelastine nasal sprays, azelastine eyedrops, cyproheptadine, carbinoxamine, diphenhydramine, desloratadine, hydroxyzine, emedastine eyedrops, levocabastine oral, levocabastine eyedrops, and others. The Corticosteroids segment can be sub-segmented into inhaled steroids, topical steroids, and others. The Inhaled steroids segment includes fluticasone furoate, flunisolide, triamcinolone acetonide, fluticasone propionate, budesonide, beclomethasone dipropionate, and others.
By end user, the market for drug allergy can be segmented into academic institutes, medical research centers, hospitals & clinics, and others.
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Regional Analysis:
The Americas has better market growth possibilities in the mentioned sector. The regional market is expected to grow with substantial speed in the coming days with several market players showing ample interest in taking the market forward. The Americas can be segmented into North and South America. The Northern part has the US and Canada among others who can register significant growth rate in the coming years by banking on their huge growth potential. The US can be taken into consideration as a country with high growth opportunities as the region boasts about high awareness regarding the issue. In the Southern part, Brazil and Argentina have chances to provide better growth reviews.
Europe has several countries showing immense growth potential with two major segments, Eastern Europe and Western Europe. The Western part is more developed with countries like Germany, France, the UK, and others showing ample growth opportunities.
The Asia Pacific market has a massive population, which can show growth opportunities with increasing awareness and increasing government expenditures to secure better health. The regional market can benefit from the contribution made by China.
Competitive Landscape:
Major market players, profiled by MRFR, who are showing prospects to impact the market substantially are Bayer (US), AstraZeneca (UK), HAL Allergy Group (the Netherlands), Circassia (US), Stallergenes Greer (UK), MAGNA Pharmaceuticals, Inc. (US), Johnson & Johnson Services, Inc. (US), and others.
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