Chlorpheniramine Maleate Market

Chlorpheniramine Maleate Market Research, 2032

The chlorpheniramine maleate market size was valued at $468.6 million in 2022, and is projected to reach $751.4 million by 2032, growing at a CAGR of 4.9% from 2023 to 2032. Antihistamines are medications or other compounds that restrict the physiological impacts of histamine, utilized specifically in the treatment of allergies. Chlorpheniramine maleate is an antiallergic medicine used in the treatment of different allergic conditions such as allergic rhinitis (hay fever). It also helps to relieve red, itchy, watery eyes; sneezing; itchy nose or throat; and runny nose caused by allergies, and the common cold. Chlorpheniramine binds to the histamine H1 receptor. This blocks the action of endogenous histamine, which subsequently leads to temporary relief of the negative symptoms brought on by histamine.  

The overall impact of COVID-19 remains positive on the chlorpheniramine maleate market. Owing to an increase in demand for respiratory medications, shifts in consumer behavior during the COVID-19 pandemic have resulted in increase in awareness and concern about personal health and hygiene.

Market dynamics  

The key factor that drives the growth of the chlorpheniramine maleate market share is the rise in prevalence of allergies and related respiratory conditions such as allergic rhinitis and hives. For instance, according to a report published by the Asthma & Allergy Foundation of America in 2021, approximately 81 million people in the U.S. were diagnosed with seasonal allergic rhinitis (hay fever). This equals around 26% (67 million) of adults and 19% (14 million) of children. Moreover, an increase in demand for antihistamines, and a surge in investments in R&D activities by pharmaceutical companies for the development of more effective antihistaminic drugs propel the growth of the market. 

Furthermore, advances in pharmaceutical technology and drug delivery systems have resulted in the development of new formulations of chlorpheniramine maleate, such as extended-release tablets or liquid formulations, which offer improved efficacy, convenience, and patient compliance and are expected to open new potential for the growth of the market during the forecast period. 

However, changes in consumer preferences, such as a shift towards natural remedies, holistic approaches, or preferences for other types of medications, and potential adverse effects of chlorpheniramine maleate, such as drowsiness, dry mouth, blurred vision, and urinary retention, hamper the growth of the chlorpheniramine maleate market size. Conversely, a surge in R&D activities for the development of novel therapies with fewer side effects and greater efficacy is expected to provide lucrative opportunities for the growth of the market during the forecast period. 

Segmental Overview 

The chlorpheniramine maleate market share is segmented into dosage form, application, end user and region. By dosage form, the market is bifurcated into tablets, syrup, and eye drops. On the basis of application, it is fragmented into allergy, hay fever (allergic rhinitis), common cold, watery eyes, itchy throat/skin, anaphylactic shock, and urticaria. By distribution channel, the market is categorized into hospital pharmacies, retail pharmacies and online pharmacies. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  

By dosage form 

The chlorpheniramine maleate market growth is segmented into tablets, syrup, and eye drops. In 2022, the tablets segment accounted for the largest share of the market and is projected to exhibit the fastest market growth during the forecast period, owing to increase in prevalence of allergy and the easy availability of chlorpheniramine maleate tablets. 

By application 

The chlorpheniramine maleate market is segmented into allergy, hay fever (allergic rhinitis), common cold, watery eyes, itchy throat/skin, anaphylactic shock, and urticaria. In 2022, the allergy segment accounted for the largest share of the market and is projected to exhibit the fastest market growth during the forecast period, owing to rise in prevalence of allergic conditions and expansion of pharmaceutical industry across the world that provide chlorpheniramine maleate-based formulations to treat allergic disorders.  

By distribution channel 

The chlorpheniramine maleate market is segmented into hospital pharmacies, retail pharmacies and online pharmacies, the hospital pharmacies segment exhibited the highest growth in 2022, and is anticipated to lead during the forecast period, as hospital pharmacies dispense chlorpheniramine maleate in various forms, including tablets, capsules, or liquid formulations.

By region 

The chlorpheniramine maleate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the majority share in 2022 and is anticipated to remain dominant during the forecast period owing to advancement in healthcare infrastructure with easy access to healthcare services, including OTC medications for allergic conditions and increase in prevalence of allergic condition in this region.  

Asia-Pacific is expected to witness growth at the highest rate during the chlorpheniramine maleate market forecast. Owing to rise in prevalence of allergic conditions, increase in number of key market players for the manufacturing of chlorpheniramine maleate and rise in consumer awareness about allergies. Furthermore, rise in demand for antihistaminic, surge in geriatric population and increase in air pollution in developing countries such as India, China, Japan, and South Korea contribute to the growth of the market.   

Competition analysis

The report provides competitive analysis and profiles of the major players in the chlorpheniramine maleate industry, such as Alkem Laboratories Ltd, Bayer AG, GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Inc., Novalab Healthcare Pvt. Ltd., Capellon Pharmaceuticals, Sun Pharmaceutical Industries Limited, Viatris Inc. and Zydus Lifesciences Limited.   

Recent development in Chlorpheniramine Maleate Market

• In September 2021, Sun Pharmaceutical Industries Ltd. launched Chericof 12, a novel syrup for cough management in India. The launch of Chericof 12 will help the company to gain a strong foothold in the chlorpheniramine maleate industry. 

 Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the chlorpheniramine maleate market analysis from 2022 to 2032 to identify the prevailing chlorpheniramine maleate market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the chlorpheniramine maleate market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global chlorpheniramine maleate market trends, key players, market segments, application areas, and market growth strategies.

 Chlorpheniramine Maleate Market Report Highlights