The Global Drug Allergy Market is expected to grow at the CAGR of ~5.1% during the forecast period and is estimated to reach USD 4764.0 million by 2023.
Drug allergy is one of the most common types of allergies. It is the hyper sensitivity of the immune system to drug or medication. Any types of drugs such as prescription, nonprescription or herbal can induce drug allergy. Some common symptoms of the drug allergies are hives, skin rash, itching of the eyes or skin, swelling of the face, lips, or tongue, wheezing, and others. Treatment can relieve and prevent severe reactions.
Increasing awareness about various allergies, the introduction of the new treatment of products and rising demand from emerging markets drives the growth of the global market. New research to prevent drug allergies is another key driver for the market. The global drug allergy market is growing moderately and is expected to continue its growth over the forecast period.
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AstraZeneca (UK), Bayer (US), Circassia (US), HAL Allergy Group (the Netherlands), Johnson & Johnson Services, Inc. (US), MAGNA Pharmaceuticals, Inc. (US), Stallergenes Greer (UK), and others.
There are number of companies involved in the development of the drugs and therapies to counter the allergic reactions which are now being used all across the world.
In January 2017, acquired the operating assets in Allergy Laboratory of Oklahoma Inc., and Crystal Labs LLC.
The Global Drug Allergy Market is consist of four regions: America, Europe, Asia Pacific, and the Middle East & Africa.
Increasing funding for R&D, and ongoing clinical trials of various drugs are driving the growth for the America drug allergy market. The Americas market is consist of North America and Latin America. The drug allergy is one of the most common types of allergy in North America, especially, in the US. The Latin American market holds the least market share; however, this market is expected to grow significantly during the forecast period 2017-2023.
Europe drug allergy market is the second largest market in the globe and growing significantly. According to European Academy of Allergy and Clinical Immunology (EAACI), around 2.6% hospitalization happens due to adverse drug effects while the prevalence of drug allergy in the hospitalized patients is around 10% in the Europe.
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Growing awareness about various drug allergies, improving drug standards, and changing healthcare practices are leading the growth of the market in Asia Pacific. The Middle East & Africa has one of the highest prevalence rate of different allergies, however, lack of awareness about drug allergies, their causes, symptoms, and t available treatments slow down the growth of the market in this region.
1 Report Prologue
2 Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
4 Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5 Market Factor Analysis
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