Phenylephrine Hydrochloride Market - Regional Analysis
North American Market Insights
North America in phenylephrine hydrochloride market is anticipated to dominate over 39.7% revenue share by 2035. 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 Insights
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.
