Loratadine is a second-generation antihistamine drug, it is a tricyclic chemical moiety which exerts selective inverse agonist of the H1 receptors present in the peripheral cells. It is usually available in the dose of 5mg/5ml worldwide for the symptomatic relief of allergic reactions such as allergic rhinitis, urticaria in adults and children above 2 years of age.
Allergic rhinitis is reigning the indication segment for the loratadine syrup market. As per the statistics provided by the American Academy for Allergy, Asthma & Immunology (AAAAI), approximately 40% of the global population is showing sensitization of IgE antibodies towards foreign particles. Hives also are known as urticaria is constantly growing owing to the increase in the drug-associated allergy and continuous exposure to dust and chemical particulate matters present in the air on the skin and mucous surface causing swollen red plaques an itching.
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Hospital pharmacy is dominating the distribution channel segment for the loratadine syrup market. Increasing the number of patients visiting hospital pharmacy with prescriptions for the treatment of seasonal allergic rhinitis. Retail pharmacy is going to be the fastest-growing market in the near future owing to the preexisting fortuitous market for generic drugs in the developing regions and capability to provide cheap medicines to consumers in the far-flung remote areas.
North America is spearheading the geography segment for the Loratadine syrup market. The major feature associated with its market dominance is the rising prevalence of hay fever. As per the latest research citings provided by the Center for Disease Control and Prevention (CDC), each year approximately 7.7% of the U.S. population is diagnosed with hay fever. Affordable reimbursement scenario for the use of loratadine syrup for the treatment of allergic reactions accentuates its market growth in the region. Europe lags behind in the 2nd place on account of the rising prevalence of urticaria in all age groups. As per the latest information brought forward by the European Dermatology Forum (EDF), the prevalence rate of chronic urticaria in the European region is approximately 20%. A significant rise in water pollution and drug-induced adverse effects together drive the loratadine syrup market growth in the region. Asia Pacific is keen to embark on positive market growth during the forecast period owing to the existence of a well-developed generic drug market and developing healthcare infrastructure.
Pharmaceutical companies engaged in the manufacturing of loratadine syrup are Aurohealth, LLC., Cardinal Health, Lannett Co., Inc., NuCare Pharmaceuticals, Inc., Bayer AG., Teva Pharmaceutical Industries Ltd., Taro Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Mylan Labs Ltd and Sandoz, Inc.
Market Key Takeaways:
- Rising prevalence of hay fever and skin allergies worldwide
- A constant increase in the sensitization of immunoglobulin E towards exposure to foreign particulate matters
- The exponential rise of generic drugs market in the developing regions and availability of loratadine syrup as OTC products in the developed regions
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This post was originally published on Food and Beverage Herald