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Hydroxyzine Market Size

Report ID: GMI9267
Published Date: Apr 2024
Report Format: PDF

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Hydroxyzine Market Size

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.

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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.

Hydroxyzine Market Report Attributes
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:	Increasing allergic reaction among the target population Increasing research and development investments Technological advancements in drug delivery systems Expanding applications beyond allergic reactions
Pitfalls & Challenges:	Side effects associated with the medication Stringent regulatory scenario

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Market size for hydroxyzine was valued at USD 784.4 million in 2023 and is estimated to grow at 5.4% CAGR from 2024 to 2032, driven by increasing allergic reaction among the target population.

The tablets segment in the hydroxyzine market is likely to reach USD 557.1 million by 2032, propelled by the advancements in pharmaceutical formulation technologies that enhance the bioavailability and efficacy of hydroxyzine tablets.

The U.S. market size was USD 290 million in 2023, owing to continuous innovation by pharmaceutical companies in the country.

Alliance Pharma Plc, Amneal Pharmaceuticals, Inc., Aurobindo Pharma Limited, Glenmark Pharmaceuticals Ltd., MYLAN N.V., Novartis AG, Pfizer Inc., Piramal Enterprises Limited, Sun Pharmaceutical Industries Limited and Teva Pharmaceutical Industries Limited.