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 Retail 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 .
Increasing regulatory approvals
for novel cetirizine formulation to augment the market growth The cetirizine
hydrochloride market is expected to gain significant traction over the forecast
period. This is owing to the pharmaceutical companies operating in the market
that are focused on developing novel therapies. Such developments extend the
applications of cetirizine hydrochloride for treating eye allergies and ocular
diseases. For instance, in May 2017, the FDA approved the ophthalmic solution
named Zerviate developed by Aciex Therapeutics, Inc., 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.
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Furthermore, in September 2017,
Nicox Ophthalmics, Inc., a subsidiary of Nicox S.A. entered into an exclusive
licensing agreement with Eyevance Pharmaceuticals LLC, for the
commercialization of Zerviatetm (cetirizine ophthalmic solution) 0.24%, in the
US, thereby pursuing the expansion of the product into additional markets.
Browse 28 Market Data Tables and
22 Figures spread through 148 Pages and in-depth TOC on “Cetirizine
Hydrochloride Market - Global Forecast to 2026, 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 Retail Pharmacies), and by Region
(North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).”
The market players are adopting
strategies such as mergers and acquisitions to enhance the product portfolio by
gaining market access of cetirizine hydrochloride pipeline products and to
further address major segments of the ophthalmic market, including allergy and
inflammation. 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. Under the agreement, the company will manufacture the product at its
flagship facility at Bangalore. The product is marketed by Strides Pharma Inc.
in the US market.
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Report: https://www.coherentmarketinsights.com/market-insight/cetirizine-hydrochloride-market-2069
Key Takeaways of the Cetirizine
Hydrochloride Market:
The global cetirizine
hydrochloride market is expected to exhibit a CAGR of 3.2% over the forecast
period, owing to the launch and approval of products with novel formulations
and increasing incidence of allergic rhinitis
Among dosage form, the tablet
segment holds a dominant position in the cetirizine hydrochloride market, as
they provide a cheaper alternative than the other dosage forms along with
higher shelf-life, better absorption, and dissolution
Among age group, the pediatric
segment holds a dominant position in the cetirizine hydrochloride market, owing
to the high rate of disease diagnosis among the pediatric population, as the
group is highly susceptibility to allergic disease
Among application, the hay fever
segment holds a dominant position in the cetirizine hydrochloride market, owing
to the high prevalence of the condition in North America, Europe, and Asia
Pacific.
Some of the major 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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