Chlorpheniramine Maleate Market Expected to Reach $751.4 million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Chlorpheniramine Maleate Market," The chlorpheniramine maleate market size was valued at $468.61 million in 2022, and is estimated to reach $751.4 million by 2032, growing at a CAGR of 4.9% from 2023 to 2032. Chlorpheniramine relieves red, itchy, watery eyes; sneezing; itchy nose or throat; and runny nose caused by allergies, hay fever, and the common cold. It helps to control the symptoms of cold or allergies but will not treat the cause of the symptoms or speed recovery. Chlorpheniramine is in a class of medications called antihistamines. It works by blocking the action of histamine, a substance in the body that causes allergic symptoms. It is available in various formulations, including tablets, injections, syrups, and as an ingredient in combination medications for cold and allergy relief. It is also sometimes used as a sleep aid due to its sedative effects.   

The key factors that drive the growth of the chlorpheniramine maleate market share are rise in awareness of allergies among the population, 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. For instance, in September 2021, Sun Pharmaceutical Industries announced the launch of a novel formulation in cough management, Chericof 12 (dextromethorphan hydrobromide 30 mg and chlorpheniramine maleate 4 mg), in India. Chericof 12, the first prescription cough syrup in India that gives relief for up to 12 hours, is manufactured using polistirex technology for sustained release of the drug.

Polistirex Technology involves the complexation of two drugs, dextromethorphan hydrobromide and chlorpheniramine maleate, with resins. The complexation of drugs with polistirex not only provides sustained release but also masks the bitter taste, making it more palatable.

Furthermore, an increase in air pollution in developing countries such as India, China, Brazil, and Mexico, a rise in consumer awareness about the importance of managing allergic diseases, and an increase in healthcare spending boost the growth of the market.  

However, the risk of potential side effects of chlorpheniramine maleate such as drowsiness, dizziness, dry mouth, blurred vision, and an increase in shift towards alternative medicines hamper the growth of the chlorpheniramine maleate industry.

Conversely, a rise in prevalence of allergic conditions, a rapid increase in urbanization and change in lifestyles in emerging economies such as India, China, Mexico, and Brazil are anticipated to create new opportunities during the forecast period. 

On the basis of dosage form, the chlorpheniramine maleate market analysis is segmented into tablets, syrups, 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 an increase in prevalence of allergies and the easy availability of chlorpheniramine maleate tablets. 

However, the syrups segment is expected to witness considerable market growth during the forecast period. Owing to easy availability of chlorpheniramine maleate syrups as an OTC medication and surge in advancement in pharmaceutical technology and drug delivery systems.      

On the basis of application, the chlorpheniramine maleate market size 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 the rise in prevalence of allergic conditions and expansion of the pharmaceutical industry across the world that provides chlorpheniramine maleate-based formulations to treat allergic disorders.   

However, the allergic rhinitis segment is expected to witness the fastest CAGR during the forecast period. Owing to an increase in prevalence of allergic rhinitis, a surge in demand for antihistamines and a rise in geriatric population.       

Depending on distribution channel, the chlorpheniramine maleate market share is segregated 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.   

However, the online pharmacies segment is expected to witness considerable market growth during the forecast period. Owing to an increase in awareness among consumers about the symptoms and management of allergies and easy availability of chlorpheniramine maleate in online pharmacies.     

North America accounted for the majority share in 2022 and is anticipated to remain dominant during the forecast period owing to advancements in healthcare infrastructure, easy access to healthcare services, including OTC medications for allergic conditions, and an increase in prevalence of allergic conditions in this region.  

Asia-Pacific is expected to witness growth at the highest rate during the chlorpheniramine maleate market forecast. There is an increase in market growth in the Asia-Pacific region owing to a rise in the prevalence of allergic conditions. Furthermore, a rise in demand for antihistaminic, a surge in the geriatric population, and an increase in air pollution in developing countries such as India, China, Japan, and South Korea contribute to the growth of the market.  

The key players that operate in the chlorpheniramine maleate industry are Alkeem 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.      

Key findings of the study 

• By dosage form, the tablets segment was the highest contributor to the market in 2022.  

• By application, the allergy segment was the highest contributor to the market in 2022.  

• By distribution channel, the hospital pharmacies dominated the market in 2022 and are expected to remain dominant during the forecast period.  

• By region, North America garnered the largest chlorpheniramine maleate market trends in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.