Market Size of Hydroxyzine Imine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hydroxyzine Imine Market Analysis
The hydroxyzine imine market is expected to grow at a significant CAGR of 5.1% during the forecast period.
The COVID-19 pandemic impacted healthcare systems worldwide, exposing vulnerable patients to significant risks, resulting in fewer hospital visits. As a result, the demand for hydroxyzine imine drugs fell. However, during the later phase of the pandemic, research related to the benefits of hydroxyzine imine in COVID-19 patients increased. For instance, as per a research article published in JCM in December 2021, hydroxyzine belongs to the group of functional inhibitors of acid sphingomyelinase (FIASMA), and according to researchers, hydroxyzine could activate various biological processes that are advantageous against COVID-19 and benefit the infected patients, through potential subsequent antiviral and anti-inflammatory effects. Thus, due to such instances, the demand for hydroxyzine drugs increased during later phases of the pandemic. This further fuelled the studied market globally. Hence, the pandemic has shown a considerable impact on the market studied and its growth, which is expected to continue to grow over the analysis period.
Factors such as the increasing allergic reactions among the target population, an increase in investments and awareness campaigns, and a rise in the prevalence of anxiety disorders among the elderly population globally are the major factors that contribute to the market's growth.
The prevalence of allergies or related diseases is increasing globally than the previous few decades. There are several factors that contribute to the rise in cases of allergic conditions. For instance, according to Allergy Facts and Figures updated in April 2022, nearly more than 50 million people in the United States experience various types of allergies every year, and allergies are the sixth major cause of chronic illness in the country. Thus, there is a high burden of allergies in the country, which requires better treatment options.
In this context, according to an article published in IJERPH in November 2021, even though the factors for allergies are clearly unknown, genetic and environmental factors play a significant role in making allergic diseases a major challenge worldwide. Also, several studies suggest that hydroxyzine imine can be used to treat itching caused by allergies. It is an antihistamine that works by blocking certain natural substances, or histamine, that the human body makes during an allergic reaction. Thus, to control the disease burden, the demand for hydroxyzine imine is increasing. Therefore, the high burden of allergies among the target population and the benefits of hydroxyzine imine for allergies are expected to fuel the growth of the market.
Therefore, due to the above-mentioned factors, the market studied is expected to grow significantly during the study period. However, side effects associated with the medication are expected to restrain market growth during the forecast period.
