Cetirizine Hydrochloride Market to Touch USD 1.4 Billion by 2027 at a 3.2% CAGR | Generated Opportunities for Growth in The Global Cetirizine Hydrochloride Industry
The Cetirizine Hydrochloride Market analysis report speaks about the growth rate till 2027 manufacturing process, Growth, key factors driving this market with sales, revenue, and price analysis of lead manufacturers, distributors, traders and dealers of Cetirizine Hydrochloride.
Coherent Market Insights always aims at offering their clients an in-depth analysis and the best research of the various market. The “Cetirizine Hydrochloride Market projected to develop with growing expansion prospects”. The Cetirizine Hydrochloride Market report presents a calculated opinion of the analyzed Cetirizine Hydrochloride Market data. It explains various opportunities dedicated to different industries, suppliers, organizations, and associations offering various products and services such as offering them precise guidance for their expansion in the competition for reliable services to consumers. The report provides detailed information on key competitors in the market and on emerging companies with significant market share based on demand, revenue, sales, high-quality product manufacturers, and service providers.
Overview
Cetirizine hydrochloride is an antihistamine medication that works by lowering the amount of histamine in the body. Coughing, wet eyes, and a nasal congestion are all signs of histamine. Hives are treated with cetirizine hydrochloride, which is used to treat colds, seasonal allergies, irritation, and inflammation. It is accessible over-the-counter and on medication at pharmacies and groceries.
The global cetirizine hydrochloride market was worth US$ 1,100 million in 2017, and it is anticipated to grow at a healthy CAGR of 3.2 percent from 2019 to 2027.
The prominent players in the Cetirizine Hydrochloride Market are Johnson and Johnson, Mylan, Inc., Nicox S.A., Strides Shasun, Apotex, Inc., Teva UK Limited, Aurobindo Pharma Limited, Jubilant Life Sciences, Tris Pharma, Inc., and Cipla Ltd.
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Drivers
The growing prevalence of allergic diseases such as seasonal allergies, conjunctivitis, and dermatitis is projected to boost the global cetirizine hydrochloride market.
The global cetirizine hydrochloride market is projected to expand due to the high frequency of allergic diseases such as seasonal allergies, often known as hay fever. As per the American Academy of Allergy, Asthma, and Immunology, rheumatoid arthritis impacts between 10% and 30% of the global population. Furthermore, as per the International Study of Asthma and Allergies in Childhood (ISAAC), the incidence of pollen allergy or hay fever among children aged 12-14 years old was 22.1 percent globally in 2016, with North America having the highest rate of 33.3 percent.
Regional Analysis
Due to the high frequency of hay fever and allergic conjunctivitis in the U.S., North America dominated the global cetirizine hydrochloride market. As per the American Academy of Allergy, Asthma, and Immunology, hay fever affects 7.8% of the population in the U.S. over the age of 18. According to the National Health Interview Survey, around 6.5 percent of adults (16.0 million) and 7.5 percent of children under the age of 18 were identified with hay fever in 2015.
Furthermore, due to the rising economic burden imposed by allergy disorders on the affected population, the cetirizine hydrochloride market in North America is projected to expand significantly. As per the American College of Allergy, Asthma, and Immunology, sensitivities are the sixth biggest cause of chronic disease in the U.S., affecting over 50 million individuals yearly and costing the country $ 18 billion.
Restraints
The medication might cause severe to moderate adverse effects such as sleeplessness, hyperactivity, irregular heartbeat, nausea, constipation, and headache, which would restrict its use and slow the global cetirizine hydrochloride market expansion.
Market Trends
Higher chances of acquiring allergic eye problems as a result of allergic rhinitis or hay fever are also driving market expansion. Around 97 percent of children with allergic rhinitis or hay fever also experience allergic eye symptoms, according to a survey performed by Virtual Medical Center. Furthermore, according to the report, 56% of children with asthma had allergic eye symptoms, while 33 percent of children with rashes have allergic eye symptoms. Optic redness, frequent watering, irritated burning eyes, mucus, impaired vision, and heightened sensitivity to light are some of the indications and symptoms. Moreover, as per a research published in the Clinical Review and Education Journal in 2013, about 40% of the world’s population had allergic conjunctivitis.
Atopic dermatitis (AD), commonly known as atopic eczema, is a prevalent chronic inflammatory skin condition that affects 15-20 percent of children and 1-3 percent of adults globally, according to the Nutrition and Health Department in 2015. As a result, a significant driver driving market development is the increasing incidence of allergic conjunctivitis and eczema.
To increase market share, key market players are focusing on new product launches. McNeil Consumer Healthcare, a Johnson & Johnson company, added a simple oral, dissolvable tablet to the Zyrtec allergy-relief line in 2014. Adults and children will be able to purchase the pills at major shops and pharmacies.
Main points in Cetirizine Hydrochloride Market Report Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Cetirizine Hydrochloride Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Cetirizine Hydrochloride Industry Impact
Chapter 2 Global Cetirizine Hydrochloride Competition by Types, Applications, and Top Regions and Countries
2.1 Global Cetirizine Hydrochloride (Volume and Value) by Type
2.3 Global Cetirizine Hydrochloride (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Cetirizine Hydrochloride Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Cetirizine Hydrochloride Market Analysis
Chapter 6 East Asia Cetirizine Hydrochloride Market Analysis
Chapter 7 Europe Cetirizine Hydrochloride Market Analysis
Chapter 8 South Asia Cetirizine Hydrochloride Market Analysis
Chapter 9 Southeast Asia Cetirizine Hydrochloride Market Analysis
Chapter 10 Middle East Cetirizine Hydrochloride Market Analysis
Chapter 11 Africa Cetirizine Hydrochloride Market Analysis
Chapter 12 Oceania Cetirizine Hydrochloride Market Analysis
Chapter 13 South America Cetirizine Hydrochloride Market Analysis
Chapter 14 Company Profiles and Key Figures in Cetirizine Hydrochloride Business
Chapter 15 Global Cetirizine Hydrochloride Market Forecast (2021-2027)
Chapter 16 Conclusions
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