The diphenhydramine market is expected to register a CAGR of 2% during the forecast period. This is attributing to an increasing number of allergies worldwide.
- Diphenhydramine is used for the treatment of allergies, and it is first line of therapy for the same. Increasing levels of indoor and outdoor pollution, changing lifestyle, poor dietary habits, and rapid urbanization across the world are few of the factors due to which patients suffering from allergies are rapidly increasing. As per the International Study of Asthma and Allergies in Childhood (ISAAC), 22.1% of children of age 13- and 14-years experienced hay fever. This high incidence of the targeted patient pool result in propelling the market to a certain extent. However, few side effects associated with consuming diphenhydramine hinder the market.
Key Market Trends
Tablets Form is Estimated to Witness a Healthy Growth in the Future
The tablets form segment is estimated to witness healthy growth in the future, owing to the wide availability of drugs, low cost of manufacturing, ease of administration, and convenience in storage. Several advantages of tablets, along with an increasing number of allergic populations worldwide, are the key drivers contributing to the growth of the diphenhydramine market.
North America is Expected to Hold a Significant Share in the Market and is Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global diphenhydramine market, due to the increasing number of allergic populations. As per the data published by the American College of Allergy, Asthma, & Immunology, allergies are the 6th leading cause of chronic illness in the United States, and every year, more than 50 million Americans suffer from allergies. Thus, the increasing burden of allergic diseases is expected to aid the demand for diphenhydramine drugs and further propel the growth of the market in this region. Moreover, the increasing healthcare expenditure and the presence of well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent.
The diphenhydramine market is moderately competitive and consists of several major players. Some of the companies, which are currently dominating the market, are Cardinal Health, Pharmaceutical Associated, Bayer AG, Pfizer Inc., Johnson & Johnson, Cigna, RemedyLabs, and Fresenius Kabi.
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