Cetirizine Hydrochloride Market at a Rapid Pace Until 2026 Key Players Resposible : Johnson and Johnson, Mylan, Inc., Nicox S.A., Strides Shasun, Apotex, Inc., Teva UK Limited, Cipla Ltd.

Global Cetirizine Hydrochloride Market 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. Cetirizine hydrochloride is a second-generation histamine H1 antagonist that is effective in treatment of allergic rhinitis, chronic urticaria, and pollen-induced asthma. Cetirizine does not cause drowsiness or anticholinergic side effects opposed to conventional antihistamines. Cetirizine is available in various forms such as regular and chewable tablets, capsules, and solutions.

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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.

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.

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.

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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"

-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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This release was published on openPR.