The global hydroxyzine industry size is forecast to reach USD 829.9 million in 2024 and further rise at a CAGR of 5.6% during the assessment period. Global sales of hydroxyzine are predicted to total USD 1430 million by 2034.
Demand remains particularly high for tablets owing to several advantages, like convenience, long shelf life, and ease of use. The target segment accounted for a prominent value share of 38% in 2023.
From being known for its antihistamine properties to possessing sedative and anxiolytic effects, hydroxyzine has become a popular medication to treat different health conditions. For instance, the medication is widely used in anxiety disorder management.
The antihistamine properties of hydroxyzine are encouraging its adoption for treating various allergic conditions. This is anticipated to play a key role in boosting growth of hydroxyzine market during the forecast period.
Allergic diseases are becoming extremely common due to pollution, environmental changes, and other factors. This is projected to generate a high demand for safe and effective treatments that help reduce symptoms like rashes and itching.
As per the Centers for Disease Control and Prevention (CDC), about one-third of individuals aged 18 years and above had a food allergy, eczema, or seasonal allergy in 2021. In the same year, around 29.9% of women were suffering from seasonal allergies, whereas 21.1% were males.
Shifting preference toward generic medications is another key factor influencing industry growth. Hydroxyzine is also available in generic forms, making the medication an ideal option for cost-conscious patients, especially across emerging nations.
Continuous innovations in pharmaceutical drug delivery are paving the way for the development of novel formulations. For instance, companies are introducing intramuscular injections and extended-release tablets.
New formulations offer advantages such as enhanced bioavailability and reduced side effects. The increasing popularity of these new formulations is projected to bode well for the industry during the assessment period.
Leading companies are also strengthening presence across lucrative regions where there is an unmet need for antihistamines due to increasing allergic reaction prevalence. This will probably help companies boost revenues significantly.
| Attributes | Description |
|---|---|
| Estimated Global Hydroxyzine Market Size (2024E) | USD 829.9 million |
| Projected Global Hydroxyzine Market Value (2034F) | USD 1430 million |
| Value-based CAGR (2024 to 2034) | 5.6% |
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High Incidence of Allergic Conditions like Urticaria and Atopic Dermatitis to Push Sales
The global industry is forecast to progress steadily during the estimated period, owing to multiple factors. One such key factor is the increasing prevalence of allergic conditions like atopic dermatitis and urticaria.
According to the American College of Allergy, Asthma, and Immunology, urticaria, also known as hives, affects around 20% of people at certain times during their lives. This, in turn, is anticipated to create a growing demand for antihistamines like Atarax and Vistaril.
Hydroxyzine is highly effective in reducing symptoms like rashes, itching, and hives. Thus, as the prevalence of allergic conditions continues to surge, so will demand for antihistamines, further boosting industry growth.
Ongoing Research and Development Activities to Spur Growth
As the competition becomes fierce, leading companies are using various tactics to stay ahead. One such strategy is the investment in research and development activities.
Leading players are continuously spending on research and development to improve the efficacy of products and discover new therapeutic application areas. This is projected to positively impact the growth trajectory of the target industry during the assessment period.
Use of Alternatives, Regulatory Challenges, and Potential Side Effects to Hamper Demand
Despite growing popularity of hydroxyzine, certain factors limit demand and usage of this medication. These include availability of alternatives, stringent approval processes, and potential side effects of this antihistamine, including drowsiness.
Patients use several potential alternatives for treating allergies, including cetirizine, loratadine, fexofenadine, and diphenhydramine. High consumption of these alternative medications is set to negatively impact the target industry.
Global sales increased at a CAGR of 7.3% between 2019 and 2023. This high growth was fueled by increased cases of mental disorders, especially during the COVID-19 pandemic.
The outbreak of COVID-19 resulted in high cases of anxiety disorders. According to the COVID-19 Mental Disorder Collaborators, the pandemic led to a 27.6% increase in cases of significant depressive disorders. This, in turn, positively impacted sales growth in the sector.
Looking ahead, the forecast for hydroxyzine industry looks optimistic. This is attributable to rising incidence of allergies like atopic dermatitis and hives and increasing demand for antihistamines. As per the National Eczema Association, in the United States, around 31.6 million individuals have at least some form of eczema, with the prevalence rising during peak childhood.
The medication is widely used to treat itching, rashes, and other symptoms of allergic diseases. Thus, surge in cases of allergic conditions globally due to multiple factors is anticipated to boost sales growth.
Another key growth-shaping factor is the rising usage of hydroxyzine in psychiatric care. Its anxiolytic properties make the medicine ideal for managing anxiety and other mental disorders.
People across the world are becoming aware of mental health and its importance. This is expected to generate demand for various medications like Atarax and Vistaril. Similarly, favorable government support is anticipated to benefit the industry during the next ten years.
Principal Consultant
The section below depicts hydroxyzine market forecast across various countries. South Korea and Japan are set to experience high CAGRs of 8% and 7.3%, respectively, through 2034.
The regional analysis of hydroxyzine market is also given to determine key pockets for companies closely. Information about hydroxyzine sector’s latest trends is also provided in the full report.
Increasing incidence of allergies and favorable government support are a few industry growth factors for the hydroxyzine sector in East Asia. Overview of hydroxyzine market in APAC indicates Japan and Korea to witness robust growth.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 5.9% |
| China | 6.3% |
| United Kingdom | 6.8% |
| Japan | 7.3% |
| South Korea | 8% |
The United States is anticipated to experience a CAGR of 5.9% during the assessment period, totaling USD 258.2 million by 2034. This is attributable to increasing incidence of anxiety disorders in the nation.
In recent years, there has been a spike in cases of anxiety disorders in the United States. For instance, as per the Anxiety and Depression Association of America (ADAA), around 40 million people in the United States experience an anxiety disorder in any given year.
The high incidence of anxiety disorders is prompting people to seek different medications to manage the existing condition. This will likely continue to uplift demand for hydroxyzine and other medications.
Growing mental health awareness is also playing a key role in fueling sales across the United States. Similarly, the presence of institutes, like the National Institute of Allergy and Infectious Diseases (NIAID), that strive to counter the atopic dermatitis burden contributes to industry growth.
Sales in the United Kingdom are projected to record a CAGR of 6.8% during the assessment, totaling USD 57.8 million by 2034. One of the prominent factors spearheading this growth is the increasing prevalence of allergies.
According to AllergyUK, the United Kingdom has the leading prevalence rates of allergic conditions globally. Around 20% of the population is affected by one or more allergic disorders in the nation, and the number of sufferers is on the rise.
Increasing cases of allergic conditions like hives and eczema in the United Kingdom are set to fuel sales. This antihistamine medication is highly effective in alleviating itching, rashes, and other symptoms associated with allergic reactions.
China's industry is poised to advance at a CAGR of 6.3% during the forecast period, with sales totaling USD 224.9 million by 2034. This can be attributed to factors like increasing geriatric population and surging demand for antihistamines.
China is witnessing a surge in geriatric population susceptible to conditions like insomnia, itching, and mental disorders. This will likely act as a catalyst triggering demand for antihistamines in China in the upcoming years.
Leading China-based pharmaceutical giants are constantly innovating to develop new formulations and dosage forms to counter the allergy burden. This will likely bode well for the target industry during the assessment period. Similarly, favorable government policies and regulations are set to improve China’s share in hydroxyzine market in Asia Pacific.
The section below sheds some light on key segments and anticipated growth rates. The detailed market segmentation of hydroxyzine can help companies invest in popular forms and frame strategies accordingly.
Based on dosage form, tablets dominate the industry, accounting for a value share of 38% in 2023. The latest analysis of hydroxyzine industry estimates atopic contact dermatitis segment to record a CAGR of 5.2% through 2034.
| Segment | Tablets (Dosage Form) |
|---|---|
| Value Share (2023) | 38% |
When it comes to dosage form, tablets remain a popular category globally. This is attributable to usage of hydroxyzine oral tablets due to several advantages like convenience, ease of use, and accurate dosing. The target segment accounted for a revenue share of 38% in 2023 and is set to register a CAGR of 5.4% through 2034.
Unlike other dosage forms like injections, tablets are easy to manufacture, store, and transport. These are also convenient for patients to consume and carry, which is improving the popularity globally.
Tablets offer precise dosage control, which ensures consistent therapeutic outcomes for patients. Extended shelf life, ease of swallowing, cost-effectiveness, and perceived effectiveness are other factors making these popular and fueling demand.
Key hydroxyzine tablet producers are strengthening presence through online platforms. This is projected to further boost segment growth during the assessment period.
| Segment | Atopic Contact Dermatitis (Indication Type) |
|---|---|
| Value Share (2023) | 42% |
Currently, atopic contact dermatitis segment leads the sector. The segment accounted for a prominent share of 42% in 2023 and is forecast to advance at 5.2% CAGR during the next decade. High prevalence of atopic contact dermatitis and hydroxyzine’s efficacy in managing this condition are key factors behind the segment’s growth.
Atopic dermatitis, a form of eczema, is becoming a common chronic inflammatory skin disease. As per a report published in the National Library of Medicine, atopic dermatitis affects around 10% to 30% of children and 2% to 10% of adults in developed nations.
It is estimated that the incidence of atopic dermatitis has increased two to three-fold in recent decades. This high prevalence is creating significant demand for medications like Atarax, and the trend will likely persist through 2034.
Antihistamines like hydroxyzine are highly effective in reducing itching associated with atop contact dermatitis. Its ability to provide quick relief from itching is estimated to continue to encourage its adoption among patients.
Hydroxyzine’s high efficacy and few side effects encourage healthcare professionals to prescribe the medicine as the first line of treatment for managing atopic contact dermatitis. Hence, the target segment is set to retain its dominance during the forecast period.
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The competitive landscape in hydroxyzine market is becoming fiercer, with leading players accounting for a significant share. Leading players like Teva Pharmaceuticals, Pfizer, Inc., and GSK, plc are heavily investing in research and development to enhance hydroxyzine formulations, explore new indications for the drug, and develop new delivery methods like extended-release formulations.
Companies are also navigating the regulatory landscape to maintain compliance with safety and efficacy standards and receive approval for new products. New marketing strategies are being used to increase customer base and boost sales.
Several players are targeting new lucrative regions where allergies are prevalent, but access to effective treatments may be limited. Hydroxyzine hydrochloride API manufacturers are also focusing on keeping production costs low to offer competitive pricing to healthcare providers and pharmacies.
Strategies like mergers, partnerships, acquisitions, and distribution agreements are becoming prevalent in the sector. Key players are also establishing new drug production facilities in attractive regions to expand footprint and meet demand for antihistamine medications.
Industry Updates
In terms of dosage form, the industry has been categorized into tablets, capsules, injections, and syrup.
Based on indication type, the industry is segmented into histamine-mediated pruritus, urticaria, and atopic contact dermatitis.
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
Global sales are set to total USD 829.9 million in 2024.
The target industry is set to record 5.6% CAGR through 2034.
By 2034, the global industry value is projected to total USD 1430 million.
Tablets.
Teva Pharmaceuticals, Pfizer, Inc., GSK, plc, and Novartis AG.
Atarax and Vistaril, among others.
The medicine is used for treating anxiety, itchiness, and insomnia.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Dosage Form 6.2. Indication Type 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Dosage Form 7.1. Tablets 7.2. Capsules 7.3. Injection 7.4. Syrup 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Indication Type 8.1. Histamine-mediated Pruritus 8.2. Urticaria 8.3. Atopic Contact Dermatitis 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. South Asia 9.5. East Asia 9.6. Eastern Europe 9.7. Middle East & Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Dosage Form and Indication Type for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Teva Pharmaceuticals 19.2. Pfizer, Inc 19.3. GSK, plc 19.4. Alliance Pharma PLC 19.5. Piramal Group (Piramal Healthcare UK Limited) 19.6. Impax Laboratories, Inc 19.7. Novartis AG 19.8. Shanghai Ruizheng Chemical Technology Co., Ltd 19.9. N&R Industries
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