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 Coherent Market Insights.
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.
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).”
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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.
Key Takeaways of the Cetirizine Hydrochloride Market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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