Impact Analysis of Covid-19
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Global Cetirizine Hydrochloride Market, by Dosage Form (Tablet, Syrup, and Solution), by Age Group (Adult and Pediatric), by Application (Allergic Rhinitis, Allergic Conjunctivitis, Eczema, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 1,100 million in 2017 and is projected to exhibit a CAGR of 3.2% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
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Rising regulatory approvals for novel cetirizine formulation is expected to fuel growth of the cetirizine hydrochloride market
Pharmaceutical companies in the market are focusing on the development of novel therapies, which is expected to drive the cetirizine hydrochloride market growth over the forecast period. The development of such novel therapies will result in wider applications of cetirizine hydrochloride for treating eye allergies and ocular diseases. For instance, in May 2017, an ophthalmic solution named Zerviate developed by Aciex Therapeutics, Inc. was approved by the FDA, for topical application of the second-generation histamine-1 (H1) receptor antagonist for use in treating ocular itching associated with allergic conjunctivitis. The FDA approval was based on the New Drug Application providing data that demonstrated the efficacy, safety, and tolerability of cetirizine ophthalmic solution in phase 3 phase clinical trials using the conjunctival antigen challenge (CAC) model. Furthermore, in September 2017, Nicox Ophthalmics, Inc., a subsidiary of Nicox S.A., entered into an exclusive licensing agreement with Eyevance Pharmaceuticals LLC, to commercialize Zerviatetm (cetirizine ophthalmic solution) 0.24%, in the U.S.
Key players in the market are focusing on adopting inorganic growth strategies such as mergers and acquisitions, in order to enhance their product portfolio by gaining market access of cetirizine hydrochloride pipeline products. For instance, in 2014, Nicox S.A. acquired Aciex Therapeutics, Inc., the U.S.-based ophthalmic development pharmaceutical company with a strong late stage therapeutic pipeline in ophthalmology, thereby diversifying the product portfolio and gaining commercial rights of the product in the U.S. Also, in 2017, the pharmaceutical company Strides Shasun, headquartered in Bangalore, received approval for allergy drug Cetirizine Hydrochloride in the U.S. The company will manufacture the product at its flagship facility at Bangalore. The product is marketed by Strides Pharma Inc. in the U.S. market.
Browse 28 Market Data Tables and 22 Figures spread through 148 Pages and in-depth TOC on “Cetirizine Hydrochloride Market, by Dosage Form (Tablet, Syrup, and Solution), by Age Group (Adult and Pediatric), by Application (Allergic Rhinitis, Allergic Conjunctivitis, Eczema, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
To know the latest trends and insights prevalent in the cetirizine hydrochloride market Press Release, click the link below: https://bit.ly/2C4DPWE
Key Takeaways of the Cetirizine Hydrochloride Market:
- The global cetirizine hydrochloride market is expected to expand at a CAGR of 3.2% over the forecast period. This growth is attributed to product launches and approval of novel formulations and rising incidence of allergic rhinitis.
- Among dosage form, the tablet segment holds dominant position in the cetirizine hydrochloride market, as tablets are a cheaper alternative when compared to other dosage forms and also, it has higher shelf-life, better absorption, and dissolution
- Among age group, the pediatric segment holds dominant position in the cetirizine hydrochloride market. This is attributed to high rate of disease diagnosis among pediatric population, as children are highly susceptibility to allergic diseases.
- Key players operating in the global cetirizine hydrochloride market include 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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