In fiscal year 2023, the global Drug Eruptions Treatment Market revenue is expected to be worth US$ 3.89 billion, up from US$ 3.66 billion in fiscal year 2022. The global market is expected to grow at a 6.2% CAGR from 2023 to 2033, reaching US$ 7.1 billion by the end of that year. A drug rash is caused by skin sensitivity to a medication’s component. A rash is the most common drug-induced disease. They affect 5 to 15% of pharmacological regimens. There are both prescription and over-the-counter pharmaceutical regimens available. Drug reactions might be either allergic or nonallergic.
Any medication can cause a rash, but several are especially well-known for doing so. Nonsteroidal anti-inflammatory drugs (NSAIDs), seizure medications, and antibiotics (especially penicillins and sulfa pharmaceuticals) are examples. These reasons will boost revenue in the global market for medication eruptions from 2023 to 2033. One of the most significant challenges for the worldwide market for these things in the coming years may be the high cost of pharmaceutical epidemics. Increasing pharmacovigilance at the same time might help reduce adverse medication interactions, hence averting any potential drug-related eruptions. As a result of these issues, market expansion and, consequently, demand for medication for eruption treatment may be restricted.
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North America is regarded as the most volatile market for the treatment of drug eruptions. According to a national survey, penicillin and associated drugs will account for 18% of drug eruption reports in the United States in 2021. Furthermore, one out of every ten people developed an allergy to antibiotics containing sulfonamides. As a result, throughout the projection period, North American manufacturers will have numerous potential to expand in this regional market.
Key Takeaways from the Market Study
- Between 2018 and 2022, the market for medication eruptions grew at a 5.2% CAGR.
- The market for drug eruptions is predicted to increase at a 6.2% CAGR between 2023 and 2033.
- Antihistamines are expected to dominate the market, accounting for 41% of total revenue in 2023.
- The intravenous method of administration category will be the second-largest in 2023, with a 21% market share.
- The North American region is predicted to grow at a 7.3% CAGR from 2023 to 2033.
- The European market for drug eruptions is expected to grow at a CAGR of 6.2%.
“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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