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Phenylephrine Hydrochloride Market Size

  • Report ID: GMI6848
  • Published Date: Oct 2023
  • Report Format: PDF

Phenylephrine Hydrochloride Market Size

Phenylephrine Hydrochloride Market size was valued to be USD 777.6 million in 2022 and is anticipated to reach USD 1.6 billion by 2032, with a growth rate of 7.7% during the forecast period.

 

Phenylephrine Hydrochloride Market

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The market is primarily driven by the consistent demand for decongestant medications in response to respiratory ailments. This demand is closely linked to seasonal factors, as well as the year-round occurrence of conditions like the common cold, allergies, and sinus congestion. Phenylephrine HCL is a key ingredient in various over-the-counter and prescription medications used to alleviate nasal congestion, making it a fundamental component in the pharmaceutical industry. Furthermore, the market benefits from the adaptability of Phenylephrine HCL in various formulations, including nasal sprays, oral tablets, and liquids.

 

Phenylephrine HCL API refers to Phenylephrine Hydrochloride Active Pharmaceutical Ingredient. It is a chemical compound used in the pharmaceutical industry as the active component in various medications, particularly decongestants. Phenylephrine HCL acts as a nasal decongestant by constricting blood vessels in the nasal passages, which reduces swelling and helps relieve nasal congestion caused by conditions like the common cold, allergies, or sinusitis.

 

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Phenylephrine hydrochloride (HCL) market size was USD 777.6 million in 2022 and may reach USD 1.6 billion by 2032 driven by the consistent demand for decongestant medications to counter respiratory ailments.

The nasal decongestion application segment held 29.5% share of the phenylephrine hydrochloride industry in 2022 due to the surging need for effectively reducing the swelling and congestion in common cold, allergies, sinusitis, and hay fever.

North America recorded 38.9% share of the global phenylephrine hydrochloride market in 2022 owing to higher importance in the pharmaceutical sector, primarily due to its key role in the production of nasal decongestant medications.

Some of the well-known phenylephrine HCL market players are Cornileus Pharmaceuticals (P) Ltd, Aarti Pharmalabs Limited, Ralington Pharma, SNA Healthcare Private Limited, Shenzhen Oriental Pharmaceutical Co. Ltd., Unichem Laboratories Ltd., and Kavya Pharma.

Phenylephrine Hydrochloride Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 234
  • Countries covered: 23
  • Pages: 158
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