Cetirizine Hydrochloride Market Enhancement in Pharmaceutical Sector 2018 to 2028 By Key Companies Like Johnson and Johnson, Mylan, Inc., Nicox S.A., Strides Shasun, Apotex, Inc., Teva UK Limited, Aurobindo Pharma
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Increasing prevalence of allergic conditions in children and adult population is major factor driving growth of the cetirizine hydrochloride market. According to the National Health Interview Survey (NHIS), 2014, around 8.4% of children under the age of 18 suffered from hay fever, 10% from respiratory allergies, 5.4% from food allergies, and 11.6% from skin allergies in the U.S. Furthermore, allergic conjunctivitis imposes economic and social burden on the affected population, thereby increasing the adoption of efficient treatment to curb the increasing healthcare costs. According to the Department of Ophthalmology and Visual Sciences, University of Wisconsin, 2013, an estimated 6 million people are affected by bacterial conjunctivitis, annually in the U.S. The total expenditure in treatment of the disease was reported around US $377 million to US$ 857 million, annually.
Increasing incidence of allergic rhinitis to drive growth of the market
High prevalence of allergic conditions such as allergic rhinitis, also known as hay fever is expected to propel growth of the cetirizine hydrochloride market. According to the American Academy of Allergy Asthma and Immunology, 2015, allergic rhinitis affects around 10% to 30 % of the population worldwide. Moreover, according to the International Study of Asthma and Allergies in Childhood (ISAAC), 2016, the prevalence of pollen allergy or hay fever in children between the age group is 12-14 was 22.1% worldwide, registering the highest rate of 33.3% in North America.
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.
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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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.
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