The global drug eruptions market is in the fiscal year 2023, the global market for the treatment of drug eruptions is projected to be worth US$3.89 billion, up from US$3.66 billion in the preceding year. The global market is anticipated to increase steadily from 2023 to 2033 at a 6.2% CAGR, reaching US$ 7.1 billion by the end of that year.
The global market is anticipated to increase steadily from 2023 to 2033 at a 6.2% CAGR, reaching US$ 7.1 billion by the end of that year. Skin sensitivity to a medication’s component causes a drug rash. The most prevalent drug-induced disorders are rashes. They have an impact on 5 to 15% of pharmaceutical regimens. Both prescription as well as the over-the-counter medication regimens are included in this. Both allergic and nonallergic drug reactions are possible.
Any medicine has the potential to result in a rash, although some are better known to do so. These include nonsteroidal anti-inflammatory medicines (NSAIDs), anti seizure medications, and antibiotics (particularly penicillins and sulfa pharmaceuticals). Such factors are propelling the revenues in the global market for drug eruptions from 2023 to 2033.
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The high expense associated with medication eruptions during the forecast period may be one of the main challenges facing the global market for these products. Increasing pharmacovigilance concurrently can aid in reducing adverse drug interactions and, as a consequence, prevent any possible eruptions brought on by different drugs. Therefore, these issues may limit the market’s expansion and thereby reduce demand for the management of drug eruptions.
North America is considered to be the most volatile market for the treatment of drug eruptions. According to a survey conducted in the United States in 2021, penicillin and related medications were responsible for 18% of drug eruption reports. Additionally, one in ten people developed an allergy to antibiotics that included sulfonamide. Therefore, there will be a lot of room for growth in this regional market for North American manufacturers throughout the projection period.
Key Takeaways from the Market Study
- The market for drug eruptions expanded at a CAGR of 5.2% from 2018 to 2022.
- The market for drug eruptions is expected to grow steadily from 2023 to 2033, at a 6.2% CAGR.
- Antihistamines are predicted to command the market in 2023 with a 41% revenue share.
- With a 21% market share in 2023, the intravenous method of administration segment will hold the second-largest segment during the projected period.
- From 2023 to 2033, the North American region is expected to expand at a constant CAGR of 7.3%.
- The market for drug eruptions in Europe is anticipated to expand at a stable CAGR of 6.2%
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“The emergence of novel treatment modalities, growing awareness of various drug allergies, and a rise in demand in developing markets are the main factors driving the global market for drug eruptions during the forecast period.” comments a Future Market Insights analyst.
Competitive Landscape
Some of the top players in the global Parkison’s disease market are:
- Anuh Pharma Ltd.
- Avik Pharma
- Pfizer CentreOne
- Hovione
- Bausch Health Companies Inc.
- APOTEX
- Astellas Pharma, Inc.
- Sanofi
- Novartis AG
- SBH Sciences
Some of the recent developments in this domain are:
- In 2020, Sanofi India launched ‘Allergy Free’ initiative, a multi-channel educational campaign to promote awareness regarding allergies as well as their impact on one’s quality of life. Given the worldwide pandemic’s sensitivity, there is a lingering sense of panic that has captivated everyone. Allergy free educates individuals on the common symptoms of allergies, medication allergies, flu and cold symptoms, and the primary warning indications of COVID-19.
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More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global drug eruptions market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of drug type (corticosteroids, immunosuppressant drugs, anti-cytokines, hemorrheologic agents, antihistamines), by route of administration (oral, parenteral, intravenous, others), by distribution channel (hospital pharmacies, online pharmacies, others) & region.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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