Cetirizine Hydrochloride Market Growth Accelerated by Increased Adoption of Allergy Care Medicines

 

Cetirizine Hydrochloride Market

Cetirizine hydrochloride, commonly referred to as cetirizine, is an antihistamine used to relieve symptoms of hay fever and other allergies. It exerts its effects by blocking histamine receptors in the body. Cetirizine hydrochloride is used to treat sneezing, runny or stuffy nose, red or itchy eyes, skin rash, hives, and itching caused by allergies or chronic idiopathic urticaria (chronic hives). It can be taken for seasonal or year-round treatment of allergies. The global cetirizine hydrochloride market is estimated to be valued at US$ 712.5 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

Growing prevalence of allergic diseases owing to changing environmental conditions and lifestyle changes is a major driver boosting the cetirizine hydrochloride market growth. Allergic rhinitis or hay fever affects around 400 million people worldwide annually. Additionally, around 25 million Americans currently suffer from asthma. The increasing burden of allergies has prompted many individuals to opt for easier to take less sedative medications such as cetirizine. Growing awareness about treating chronic idiopathic urticaria with cetirizine is another driver fueling demand. Cetirizine is considered the first line therapy due to its efficacy and tolerability. Efforts by manufacturers to develop novel delivery forms such as orally disintegrating tablets and syrups to improve patient adherence is providing impetus to market growth.

 

SWOT Analysis

Strength: Cetirizine hydrochloride is a highly effective and affordable generic antihistamine. Its long-standing use and established safety profile make it a trusted option for treating various allergies and respiratory conditions. It is available over-the-counter as well as by prescription, increasing convenience and accessibility. It works quickly to relieve symptoms of allergic rhinitis such as sneezing, runny nose, and itchy, watery eyes.

 

Weakness: Cetirizine faces competition from newer branded antihistamines offering more selective peripheral H1 receptor blocking effects and additional symptom relief. Some patients report adverse effects such as drowsiness. Long-term use may lead to tolerance requiring higher doses for symptom control.

 

Opportunity: The global burden of allergic diseases and respiratory illnesses is on the rise due to environmental factors and lifestyle changes. This creates scope for greater cetirizine usage, especially in developing regions where allergy awareness is increasing. Over-the-counter forms allow tapping the self-medication segment for mild-moderate allergies and expanding market reach.

 

Threats: Patent expiration of branded antihistamines may see physicians and patients opting for newer alternatives perceived as superior. Stringent regulatory standards pose delays and costs for generic manufacturers. Supply issues and price control policies could impact profit margins for producers.

 

Key Takeaways

The Global Cetirizine Hydrochloride Market share is expected to witness high growth over the forecast period from 2024 to 2031.

The Asia Pacific region currently dominates the market and is projected to register the fastest growth through 2031. Factors such as increasing disposable incomes, growing health awareness levels, and expanding medical infrastructure will boost market growth in Asia Pacific countries.

Key players: Key players operating in the cetirizine hydrochloride market include UCB Pharma SA, Pfizer Inc., Perrigo Company, Sanofi, Johnson and Johnson, Mylan N.V., Teva Pharmaceuticals, and Bionpharma Inc. UCB Pharma leads global supply and has scale to invest in expanding to high-potential emerging markets. Mylan and Teva focus on generics while Sanofi and Pfizer have well-known brands and market their cetirizine under trade names.


Get More Insights Here

https://techaxen.com/understanding-synthetic-aperture-radar-technology/

https://www.newswirestats.com/cetirizine-hydrochloride-market-size-share-growth-outlook-2023/

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