The global Drug Eruptions Treatment market size is estimated to be worth US$ 3.89 billion in fiscal year 2023, up from US$ 3.66 billion in fiscal year 2022. From 2023 to 2033, the global market is predicted to increase 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 common drug-induced illness is a rash. They have an impact on 5 to 15% of pharmaceutical regimens. Prescription and over-the-counter pharmacological regimens are included. Drug reactions might be allergic or nonallergic in nature.
Any medicine can induce a rash, however some are particularly well-known for doing so. Examples include nonsteroidal anti-inflammatory drugs (NSAIDs), anti-seizure medications, and antibiotics (particularly penicillins and sulfa pharmaceuticals). From 2023 to 2033, these factors will drive revenue in the global market for drug eruptions. One of the biggest difficulties for the global market for these items throughout the future period may be the high cost of pharmaceutical outbreaks. Increasing pharmacovigilance at the same time can aid in reducing adverse medication interactions and, as a result, preventing any potential drug-related eruptions. As a result of these problems, market expansion and, as a result, demand for medication eruption management may be limited.
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North America is considered the most volatile market for drug eruption treatment. According to a survey conducted in the country, penicillin and related medications were responsible for 18% of drug eruption reports in the United States in 2021. Furthermore, one out of every ten people developed an allergy to sulfonamide-containing antibiotics. As a result, North American manufacturers will have plenty of opportunities to expand in this regional market throughout the forecast period.
Key Takeaways from the Market Study
- The market for drug eruptions expanded at a 5.2% CAGR between 2018 and 2022.
- From 2023 to 2033, the market for medication eruptions is expected to grow at a 6.2% CAGR.
- Antihistamines are predicted to account for 41% of total revenue in 2023, dominating the market.
- With a 21% market share in 2023, the intravenous method of administration category will be the second-largest.
- From 2023 to 2033, the North American region is expected to increase at a 7.3% CAGR.
- The European market for drug eruptions is predicted to expand at a 6.2% CAGR.
“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.
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Competitive Landscape
Some of the prominent developments of the key players in the 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.
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.
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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.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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