Phenylephrine Hydrochloride Market size was USD 905.3 million in 2024 and is estimated to reach USD 2.4 billion by the end of 2037, expanding at a CAGR of 7.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of phenylephrine hydrochloride is evaluated at USD 976.8 million.
The phenylephrine hydrochloride market is expanding due to the growing prevalence of seasonal allergies such as nasal congestion, sinusitis, common cold, and allergies. According to the National Institutes of Health (NIIH), one of the most prevalent chronic illnesses in the world, chronic rhinosinusitis (CRS) affects people of all ages. The estimated incidence rates in the USA, Europe, and China are 12.3%, 10.9%, and 13%, respectively. A basic component of the pharmaceutical business, phenylephrine HCL is an essential constituent in many prescription and over-the-counter drugs used to treat nasal congestion. Additionally, the phenylephrine hydrochloride market gains from phenylephrine HCL's versatility in various forms, such as liquids, oral pills, and nasal sprays.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
7.9% |
Base Year Market Size (2024) |
USD 905.3 million |
Forecast Year Market Size (2037) |
USD 2.4 billion |
Regional Scope |
|
Application (Nasal Decongestion, Cold, Eye Disease, Hypotension, Allergic Reaction)
Nasal decongestion segment is set to capture phenylephrine hydrochloride market share of around 95.3% by the end of 2037. The segment is expanding due to seasonal reasons and the year-round prevalence of ailments including sinus congestion, allergies, and the common cold. Since it is the active ingredient that relieves nasal congestion, phenylephrine hydrochloride, or API, is an essential part of nasal decongestant drugs. By narrowing the blood vessels in the nasal passages, this medication helps to lessen the swelling and congestion brought on by several respiratory disorders, including hay fever, sinusitis, allergies, and the common cold. Additionally, a variety of nasal decongestant medications, such as nasal sprays, nasal drops, and oral tablets, include phenylephrine hydrochloride. These formulations are widely accessible over-the-counter (OTC) and by prescription, are designed to help those looking for rapid and efficient relief from nasal congestion.
Mode (In-house Manufacturing, Contract Manufacturing)
The in-house manufacturing segment in phenylephrine hydrochloride market will garner a notable share in the forecast period. Pharmaceutical businesses precisely manage every step of the production process when they manufacture phenylephrine hydrochloride PAI in-house. It gives pharmaceutical companies more freedom to tailor their production to meet their unique needs and market expectations. Additionally, in-house API manufacturing can facilitate seamless integration between R&D and production departments for businesses engaged in pharmaceutical research and development (R&D). By reducing lead times and streamlining the development process, this integration makes it easier to move from medication discovery to commercial production.
Our in-depth analysis of the phenylephrine hydrochloride market includes the following segments:
Application |
|
Mode |
|
Use |
|
North American Market Statistics
North America in phenylephrine hydrochloride market is anticipated to dominate over 39.7% revenue share by 2037. Phenylephrine hydrochloride API (HCl) is crucial for the production of nasal decongestant medications and plays a significant role in the pharmaceutical industry in North America. A diverse array of pharmaceutical companies and the growing adoption of online pharmacies are growing the market for phenylephrine HCl in this region. Moreover, the increasing trend of self-medication and availability of OTC medications is consequently driving market growth.
The phenylephrine hydrochloride market is expanding in the U.S. due to the increasing prevalence of sinus and seasonal allergies, and growing awareness related to the condition. According to the American College of Allergy Asthma and Immunology, Sinusitis, another name for sinus infection, is a serious medical condition. In the U.S., 31 million people suffer from it. Over USD 1 billion is spent annually by Americans on over-the-counter drugs to cure it. USD 150 million in prescription drug costs and 16 million doctor visits are attributable to sinus infections.
In Canada, due to the obesity pandemic and aging population demographics, the prevalence of hypertension will continue to climb. Obesity is similarly unmalleable on a population-wide level, and aging is unquestionably irreversible. The government assists children, youth, and families in adopting and sustaining healthy behaviors, such as regular exercise and a balanced diet, in collaboration with the provinces, territories, and partners. For instance, to enhance general health and well-being, encourage healthy living, and aid in preventing chronic diseases, the Public Health Agency of Canada supports community-based initiatives, such as those that assist young families and their children, through the Healthy Canadians and Community Fund. Therefore, the growing prevalence of hypertension is one of the major factors escalating the phenylephrine hydrochloride market in the nation.
Europe Market Analysis
Europe phenylephrine hydrochloride market will encounter huge growth during the forecast period. It is anticipated that climate change will have an impact on allergy disorders, and clinical specialists believe that these diseases will rise as a result of climate change, partly due to the impact on plant species that cause allergies. The rising incidence of allergic asthma has already been attributed in part to climate change. Since the effects of climate change are complicated, there is no quantitative estimate of how future climate change may impact human pollen allergy levels, although pollens are a key cause of symptoms in those with allergic diseases. Therefore, the growing prevalence of these allergies will accelerate the phenylephrine hydrochloride market growth in the region. According to the European Federation of Allergy and Airways Diseases Patient’s Association, Allergies afflict half of all Europeans. In 2015, chronic allergic disorders affected over 150 million people in Europe. Although an estimated 45% of allergy sufferers have never been diagnosed, it is predicted that half of all Europeans will be impacted by 2025.
There are numerous significant competitors in the fiercely competitive worldwide phenylephrine hydrochloride market. To keep a competitive edge in the market, the major industrial players employ several tactics. Among other tactics, these players are involved in strategic partnerships, mergers, acquisitions, and collaborations. One can gain important knowledge about the competitive environment of this market and strategically position themselves for success in this industry by carefully evaluating each company's phenylephrine hydrochloride market share, considering elements like product offers, production capacity, geographic reach, etc.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?