CETIRIZINE HYDROCHLORIDE MARKET ANALYSIS

Cetirizine Hydrochloride MarketSize and Trends

The global cetirizine hydrochloride market size was valued at US$ 1,100 million in 2017, and is expected to exhibit a robust CAGR of 3.2% over the forecast period (2018 – 2026).

The global cetirizine hydrochloride market is expected to be driven by increasing incidence of allergic conditions including allergic rhinitis, allergic conjunctivitis, and eczema.

North America holds a dominant position in the global cetirizine hydrochloride market, owing to the high prevalence of hay fever and allergic conjunctivitis in the U.S. According to the American Academy of Allergy Asthma and Immunology, around 7.8% of population in the age group above 18 in the U.S. suffer from hay fever. The National Health Interview survey, 2016, further stated that around 6.5% or 16.0 million adults and 7.5% or 5.5 million children under age 18 were diagnosed with hay fever in 2015.

Moreover, the cetirizine hydrochloride market in North America is expected to witness significant growth, owing to the increasing economic burden caused due to allergic diseases on the affected population. According to the American College of Allergy, Asthma and Immunology, 2018, allergies are the sixth leading cause of chronic illness in the U.S., with over 50 million people suffering from allergies annually, which account for an expenditure of US$ 18 billion.

Increasing incidence of allergic eye symptoms and eczema is expected to bolster the market growth

Increased risks of developing allergic eye conditions with the onset of allergic rhinitis or hay fever is also a major factor driving the market growth. For instance, according to the survey conducted by Virtual Medical Center, around 97% of children diagnosed with allergic rhinitis or hay fever also have allergic eye symptoms. Moreover, the survey stated that around 56% children with asthma experience allergic eye symptoms, whereas 33% of children with eczema have allergic eye symptoms. The signs and symptoms include eye redness, excessive watering, itchy burning eyes, discharge, blurred vision and increased sensitivity to light. Furthermore, according to the study published in Clinical Review and Education Journal, 2013, around 40% of population worldwide suffered from allergic conjunctivitis.

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