Global Cetirizine Hydrochloride Market Size To Worth USD 7.88 Billion by 2033 | CAGR of 2.53%
Category: HealthcareGlobal Cetirizine Hydrochloride Market Size To Worth USD 7.88 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Cetirizine Hydrochloride Market Size is Expected to Grow from USD 6.14 Billion in 2023 to USD 7.88 Billion by 2033 at a CAGR of 2.53% during the forecast period 2023-2033.
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Browse key industry insights spread across 259 pages with 114 Market data tables and figures & charts from the report on the "Global Cetirizine Hydrochloride Market Size, Share, and COVID-19 Impact Analysis, By Dosage Form (Tablets, Solutions, and Capsules), By Applications (Allergic Conjunctivitis, Allergic Rhinitis, Eczema, Chronic Urticaria, and Others), By End-User (Retail Pharmacies, Online Pharmacies, and Hospital Pharmacies) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033" Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/cetirizine-hydrochloride-market
The global cetirizine hydrochloride market aims to develop, produce, and distribute stable dosages of cetirizine hydrochloride for managing allergic diseases. It is a selective second-generation antihistamine and is available in tablets, capsules, and liquid forms, with a daily dose of 10mg for adults and lower doses for kidney-related individuals. Government strategies, such as banning fixed-dose combinations (FDC) medicines, have contributed to the growth of the market. The versatility and safety profile of cetirizine hydrochloride have increased its market potential, making it a reliable option for patients of any age group. The introduction of generic versions has also strengthened its commercial appeal, making it more accessible to a wider range of individuals. Increased awareness and self-medication adoption have further accelerated the cetirizine hydrochloride market growth. As the prevalence of allergies worldwide rises, grows the need for cetirizine hydrochloride. Market expansion is fueled by researchers' attention to stability, effectiveness, and tailored delivery. Transdermal patches for children and elderly patients are being developed by researchers and have FDA approval for treating allergic rhinitis and chronic urticaria. However, side effects derived from the cetirizine hydrochloride may impede the market growth.
The tablets segment held the largest share in 2023 and is expected to grow at a significant CAGR throughout the predicted timeframe.
Based on the dosage form, the global cetirizine hydrochloride market is categorized as tablets, solutions, and capsules. Among these, the tablets segment held the largest share in 2023 and is expected to grow at a significant CAGR throughout the predicted timeframe. The segmental expansion of cetirizine hydrochloride tablets is driven by its ease of use, accuracy in dosing, availability in various dosages, preference among healthcare professionals, stability, and cost-effectiveness.
The allergic rhinitis segment dominated the global cetirizine hydrochloride market in 2023 and is anticipated to grow at a substantial CAGR throughout the projected timeframe.
Based on the applications, the global cetirizine hydrochloride market is categorized into allergic conjunctivitis, allergic rhinitis, eczema, chronic urticaria, and others. Among these, the allergic rhinitis segment dominated the global cetirizine hydrochloride market in 2023 and is anticipated to grow at a substantial CAGR throughout the projected timeframe. The segment's growth is ascribed to the increasing prevalence of allergic rhinitis, a major public health concern affecting 400 million people, pollen aggregation, allergen exposure, air pollution, and global warming.
- The hospital pharmacies segment accounted for the greatest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the end-user, the global cetirizine hydrochloride market is categorized as retail pharmacies, online pharmacies, and hospital pharmacies. Among these, the hospital pharmacies segment accounted for the greatest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. The growth of the segment is driven by patient adoption, accessibility of nanoformulations of cetirizine, improved facilities, medication monitoring services, hospital admissions, and cost-effective medication discounts.
North America is expected to hold the greatest share of the global cetirizine hydrochloride market over the forecast period.
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North America is expected to hold the greatest share of the global cetirizine hydrochloride market over the forecast period. North America is expected to lead the growth of the cetirizine hydrochloride market due to its high prevalence of allergic illnesses, sophisticated healthcare system, and increased awareness of allergy-related concerns. Government initiatives and rising seasonal allergies further enhance market potential.
Asia Pacific is predicted to hold the fastest-growing region of the global cetirizine hydrochloride market throughout the estimated period. Companies are localizing their products and expanding their distribution networks as a result of the growing demand for cetirizine hydrochloride and related treatments throughout Asia-Pacific, especially China and India, due to urbanization and rising healthcare expenditures.
Major key players in the global cetirizine hydrochloride market are Aurobindo Pharma Limited, Cipla Limited, Jubilant Pharma Sciences, Lupin Pharmaceuticals, Hetero Drugs, Sun Pharmaceutical Industries, Teva Pharmaceuticals, Glenmark Pharmaceuticals, Alembic Pharmaceuticals, Sanofi, Pfizer Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In October 2024, Indoco Remedies received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Cetirizine Hydrochloride Tablets USP, 10mg (OTC). The product is a generic equivalent of the Reference Listed Drug, Zyrtec Allergy Tablets, 10 mg, manufactured by Johnson & Johnson Consumer Inc.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global cetirizine hydrochloride market based on the below-mentioned segments:
Global Cetirizine Hydrochloride Market, By Dosage Form
- Tablets
- Solutions
- Capsules
Global Cetirizine Hydrochloride Market, By Application
- Allergic Conjunctivitis
- Allergic Rhinitis
- Eczema
- Chronic Urticaria
- Others
Global Cetirizine Hydrochloride Market, By End-User
- Retail Pharmacies
- Online Pharmacies
- Hospital Pharmacies
Global Cetirizine Hydrochloride Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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