South Korea Antiallergics Drugs Market was valued at USD 2.4 Billion in 2022 and is projected to reach USD 3.1 Billion by 2030, growing at a CAGR of 3.3% from 2024 to 2030.
The South Korean antiallergic drugs market has seen significant growth in recent years due to the rising number of individuals suffering from allergic conditions, including rhinitis, asthma, and other hypersensitivity disorders. These conditions have become increasingly prevalent due to environmental changes and urbanization. The demand for antiallergic drugs, particularly antihistamines, decongestants, and corticosteroids, is expected to continue growing in the coming years. In fact, the increasing awareness about the effectiveness of these medications has led to a steady rise in the number of prescriptions and over-the-counter (OTC) purchases.
The primary drivers for the growth of the South Korean antiallergic drugs market include a combination of environmental factors such as pollution and the rising prevalence of allergic diseases in the population. With a greater number of people being diagnosed with allergic rhinitis and asthma, the pharmaceutical industry has seen an increase in demand for effective treatment options. Additionally, South Korea's healthcare system has made significant strides in providing access to medications, both prescription-based and OTC, which further accelerates the adoption of antiallergic drugs across the nation.
In terms of the types of antiallergic drugs in demand, antihistamines are among the most commonly used medications. These drugs help to block histamine receptors in the body, reducing the symptoms of allergies such as sneezing, runny nose, and itchy eyes. Decongestants, which help relieve nasal congestion, are also highly sought after. Corticosteroids, particularly nasal sprays and inhalers, are used for more severe allergic reactions and offer potent anti-inflammatory effects.
The demand for antiallergic drugs is not only driven by individual patients but also by industries that require these medications for employees working in allergen-rich environments. For instance, sectors such as agriculture, construction, and even hospitality may need to provide workers with allergy medications to prevent disruptions to their productivity. In this context, businesses are increasingly looking to incorporate antiallergic treatments as part of their wellness programs, thereby further boosting the market.
The South Korean antiallergic drugs market also benefits from continuous research and development efforts by pharmaceutical companies. With newer, more effective drugs entering the market, patients have access to treatments that offer better results with fewer side effects. This constant innovation supports the growth of the antiallergic drugs market, ensuring that the evolving needs of both individuals and industries are met.
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Akorn
Pfizer
GSK plc
Novartis AG
Mylan N.V.
Teva Pharmaceutical Industries
Sanofi
Boehringer Ingelheim International GmbH
AstraZeneca
Johnson & Johnson Private
Bayer AG
Merck & Co.
Prestige Consumer Healthcare
F. Hoffmann-La Roche
Bristol-Myers Squibb Company
Almirall
Zenomed Healthcare Private
Cadila Pharmaceuticals
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Antiallergics Drugs Market
First-Generation Antihistamines
Second-Generation Antihistamines
Leukotriene Receptor Antagonists
Intranasal Corticosteroids
Mast Cell Stabilizers
Oral
Intranasal
Topical
Injectable
Seasonal Allergic Rhinitis
Perennial Allergic Rhinitis
Atopic Dermatitis
Allergic Conjunctivitis
Anaphylaxis
Pediatric
Adult
Geriatric
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Antiallergics Drugs Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Antiallergics Drugs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Antiallergics Drugs Market, By Type
6. South Korea Antiallergics Drugs Market, By Application
7. South Korea Antiallergics Drugs Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Antiallergics Drugs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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