Industry Background:
Antihistamines are used to treat allergic conditions that result from the release of histamine. Antihistamines market has high growth prospects owing to the increasing geriatric population and rising prevalence of skin allergies. Further, growing healthcare infratstrure in the developing economies and research and development in the healthcare industry expected to drive the demand for antihistamines drugs over the forecasted period.This growth is primarily driven by Growing Prevalence of Skin Allergies and Rising Geriatric Population.
Globally, a noticeable market trend is evident Research and Development in the Healthcare Industry. Major Players, such as Johnson & Johnson Consumer Inc. (United States), Sanofi (France), Bayer AG (Germany), Pfizer (United States), CVS pharmacy (United States), Merck & Co., Inc. (United States), Prestige Brands Holdings, Inc. (United States), Novartis (Switzerland) and Teva Pharmaceutical (Israel) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Growing Prevalence of Skin Allergies
- Rising Geriatric Population
Market Trend
- Research and Development in the Healthcare Industry
Restraints
- Stringent Government Regulations Regarding Medical Drugs
- Side Effects May Cause Such As Dry Mouth, Dizziness, Nervousness, Decreased Appetite, and Blurred Vision
Opportunities
Technological Advancement in the Healthcare Industry and Growing Healthcare Infrastructure in the Developing Economies
Challenges
Lack of Awareness in the Emerging Economies and Intense Competition among Market Players
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