Home > Healthcare > Pharmaceuticals > Finished Drug Form > Hydroxyzine Market
Hydroxyzine Market size was valued at around USD 784.4 million in 2023 and is estimated to grow at 5.4% CAGR from 2024 to 2032. Hydroxyzine is a medication primarily used to treat itching caused by allergies. It belongs to a class of drugs known as antihistamines, which work by blocking the effects of histamine, a substance in the body that causes allergic symptoms.
Allergies are becoming more prevalent globally, with a rising number of individuals experiencing allergic reactions to various triggers such as pollen, dust, food, and insect bites. Hydroxyzine, as an antihistamine, is commonly prescribed to alleviate symptoms such as itching, hives, and rashes associated with allergies. The growing incidence of allergic reactions is stimulating the demand for medications such as hydroxyzine.
Further, pharmaceutical companies are continually investing in research and development to enhance existing medications and develop new therapeutic options. This includes efforts to improve the efficacy, safety, and delivery mechanisms of antihistamines such as hydroxyzine.
Report Attribute | Details |
---|---|
Base Year: | 2023 |
Hydroxyzine Market Size in 2023: | USD 784.4 Million |
Forecast Period: | 2024 – 2032 |
Forecast Period 2024 – 2032 CAGR: | 5.4% |
2024 – 2032 Value Projection: | USD 1.3 Billion |
Historical Data for: | 2021 – 2023 |
No. of Pages: | 167 |
Tables, Charts & Figures: | 271 |
Segments covered: | Dosage Form, Route of Administration, Indication, Distribution Channel, and Region |
Growth Drivers: |
|
Pitfalls & Challenges: |
|