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| Cetirizine Hydrochloride Market |
The global cetirizine hydrochloride market involves products such as tablet, capsule and syrup form used for treating allergic disorders such as rhinitis and hives. Cetirizine hydrochloride blocks the effects of histamine, a natural substance in the body that causes sneezing, itching and other allergy symptoms. It acts as a second generation antihistamine by selectively blocking H1 receptor sites. The increasing prevalence of various allergic diseases including allergic rhinitis, allergic conjunctivitis and urticaria owing to environmental changes and pollution has augmented the need for cetirizine hydrochloride products.
The Global
cetirizine hydrochloride market is estimated to be valued at US$ 1486.04 Mn in 2024 and is expected
to exhibit a CAGR of 4.6% over the
forecast period 2024 to 2030.
Key Takeaways
Key players operating in the cetirizine hydrochloride market are F. Hoffmann-La
Roche Ltd., Amgen, Inc., Pfizer, Inc., GSK plc., Bristol-Myers Squibb Company,
Abbott, AstraZeneca, Eli Lilly and Company, Gilead Sciences, Inc., and Johnson
& Johnson Services, Inc. These players are focusing on new patent approvals
for generic versions.
There is high opportunity for market expansion in emerging countries of Asia
Pacific and Latin America owing to increasing healthcare infrastructure and
growing patient awareness. Established players are investing in developing new
formulations suitable for pediatric use to tap into new market segment.
Key players are focusing on strategic collaborations with local players from
high growth regions to establish distribution networks and market their
products globally. Acquisitions of small players with novel drug delivery
technologies can help large players to enhance their product portfolio.
Market Drivers
Increasing pollution levels leading to rise in allergic diseases is a major
market driver. Changing lifestyle and food habits have augmented incidence of
allergies. Growing patient awareness regarding available treatment options also
aids the market growth.
Market Restraints
Availability of alternative treatments including anti-histamine nasal sprays
acts as a market restraint. Presence of local generic players impacts brand
loyalty and pricing flexibility of major players. Stringent regulations for new
drug approvals can hamper market revenues.
Segment Analysis
The Cetirizine
Hydrochloride Market Growth is dominated by the oral segment due to
high patient compliance for tablets and capsules for allergy treatments. Oral
cetirizine hydrochloride drugs have distinct pharmacokinetic benefits over
other routes of administration and provide quick relief from allergies with
minimal side effects. The oral segment holds over 70% share of the global
cetirizine hydrochloride market due to heavy prescription volume and ease of
administering tablets and capsules at home without medical supervision. The
injectable and topical segments have lower market revenue share due to
restricted use under medical guidance and higher cost of therapies.
Global Analysis
The North America cetirizine hydrochloride market accounts for more than 35% of
the global market revenue share attributed to a growing allergy patient pool
and robust healthcare infrastructure in the region. Rising environmental
pollution and adoption of western lifestyles have increased the prevalence of
various allergies including respiratory allergies. This makes North America the
largest market for cetirizine hydrochloride drugs. The Asia Pacific region
exhibits the fastest growth rate led by China, India, and Japan on account of
increasing healthcare spending, large population base susceptible to allergy
disorders, and growing cases of asthma. Emerging countries offer promising
market opportunities with their huge patient populations and rapid economic
development.
For more insights, read-https://www.pressreleasebulletin.com/cetirizine-hydrochloride-market-trends-size-and-share-analysis/
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