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.
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Analyzing the outlook of the market with the recent trends and SWOT analysis2.
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The global Cetirizine OTC Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cetirizine otc market include J & J, Major(R) Pharmaceuticals, Sanofi, APOTEX, Teva, Pl Developments, Perrigo, Mckesson, CVS Pharmacy, Perrigo, Novel Laboratories.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cetirizine OTC Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cetirizine-otc-market/download-sampleMarket DynamicsThe rising prevalence of histamine borne allergic diseases drives the global cetirizine OTC market.
It affects about 30-40% of the world population and has become one of the three critical conditions in the 21st century.
Histamine is a significant mediator in allergic diseases.
