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Technological innovations in pharmaceutical drug delivery, which is estimated to reach USD 3.2 trillion by 2032, have led to the development of novel formulations of hydroxyzine, such as extended-release tablets, oral solutions, and intramuscular injections. These advancements offer advantages such as improved bioavailability, better patient compliance, and reduced side effects. For instance, long-acting formulations of hydroxyzine provide sustained relief from allergic symptoms, thereby enhancing patient convenience and treatment outcomes.
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.
The U.S. market size was USD 290 million in 2023, owing to continuous innovation by pharmaceutical companies in the country.
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.
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.