The report is titled as ‘Cetirizine Hydrochloride Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the cetirizine hydrochloride market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Cetirizine hydrochloride market is expected to grow with significant rate in the near future.
The global cetirizine hydrochloride market is estimated to reach at a value of US$ 1,118.4 Mn by the end of 2020 and expected to reach at a value of US$ 1,404.8 Mn by 2028 with a significant CAGR of 2.9%
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Cetirizine Hydrochloride Introduction
Cetirizine hydrochloride has a place with the antihistamine tranquilize class, which lessens the common concoction, histamine in the body. Histamine instigates manifestations, for example, wheezing, watery eyes, and runny nose. Cetirizine hydrochloride is utilized for treating chilly, sensitivity manifestations, tingling and swelling caused by hives. It is accessible on a solution, be that as it may, it is additionally accessible over-the-counter in drug stores and grocery stores.
Cetirizine Hydrochloride Market Dynamics
The high pervasiveness of unfavorably susceptible conditions, for example, hypersensitive rhinitis, otherwise called feed fever is relied upon to impel the development of the cetirizine hydrochloride market. As per the American Academy of Allergy Asthma and Immunology, 2015, unfavorably susceptible rhinitis influences around 10% to 30 % of the populace around the world. In addition, as indicated by the International Study of Asthma and Allergies in Childhood (ISAAC), 2016, the pervasiveness of dust hypersensitivity or roughage fever in kids between the age aggregate is 12-14 was 22.1% around the world, enrolling the most noteworthy rate of 33.3% in North America.
One of the major factors that is primarily propelling the growth of the global Cetirizine hydrochloride market is the rising incidence of allergic conditions such as allergic rhinitis among the juvenile and adult population over the forecast period. For instance, as per the American College of Allergy, Asthma and Immunology, back in the year 2018, allergies are the sixth leading cause of chronic illness in the US, with over 50 Million people suffering from allergies every year. In addition to that, the increasing technological developments and data-driven customization in order to fulfil consumer demand for accuracy and efficiency are other driving factors which are projected to further boost the growth of the global Cetirizine hydrochloride market in the near future.
However, this particular drug is likely to cause serious to moderate side effects, including unstable heartbeat, insomnia, nausea, hyperactivity, headache and constipation, which may act as a restraining factor for further growth of the global cetirizine hydrochloride market in the forthcoming years. Nevertheless, the growing investment by the leading manufacturers for research and development activities as well as increasing acquisitions and mergers for development of innovative products and technological advancements are some factors which may create further significant growth opportunities for the growth of the global Cetirizine hydrochloride market in the coming years.
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Cetirizine Hydrochloride Market Segmentation
The global cetirizine hydrochloride market is segmented on the basis of dosage form, age group, application, and region. On the basis of the dosage form, the cetirizine hydrochloride market is segmented into tablets, syrup, solutions. The age group cetirizine hydrochloride market segment is divided into adult and pediatric. Whereas, on the basis of application, the cetirizine hydrochloride market is sub-divided into allergic rhinitis, allergic conjunctivitis, eczema, and others.
Cetirizine Hydrochloride Market Key Players
The global cetirizine hydrochloride market is dominated by 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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