The global hydroxyzine pamoate oral capsules market is anticipated to grow at a CAGR of nearly 4.2% during the forecast period (2022-2028). Hydroxyzine is an antihistamine medication used in the treatment of itchiness, anxiety, and nausea, including due to motion sickness. The major factor expected to drive the market growth is the increasing number of anxiety patients globally. In addition, the shortage of this drug has been witnessed in the US. For instance, in April 2019, the US Food and Drug Administration (US FDA) announced a list of drug shortages and discontinuations. Among these, hydroxyzine comes under the shortage list. This shows there is a significant demand for hydroxyzine pamoate oral capsules in the US. Furthermore, the application of these drugs for the treatment of allergic conditions, such as chronic urticaria, atopic or contact dermatoses, and histamine-mediated pruritus will further support the market to grow further during the forecast period. It is also used as a form of non-barbiturate tranquilizer for the pre-operative sedation and treatment of neurological disorders, such as psychoneurosis and other forms of anxiety.
Additionally, by region, North America hydroxyzine pamoate oral capsules market is primarily driven by the increasing allergic patients and rising number of anxiety patients. According to the Centers for Disease Control and Prevention, an estimated 50 million Americans suffer from allergies each year and allergies are the 6th leading cause of chronic in the US. This, in turn, is accelerating the growth of the global hydroxyzine pamoate oral capsules market.
Some major players in the market include Amneal Pharmaceuticals LLC, Pfizer Inc., and Teva Pharmaceutical Industries Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Top Major Key Players:
Amneal Pharmaceuticals LLC, Pfizer Inc., and Teva Pharmaceutical Industries Ltd., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
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Global Hydroxyzine Pamoate Oral Capsules Market Report by Segment
By Type
25 mg
50 mg
By Application
Hospital
Clinics
Others
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