The global Prochlorperazine Maleate market is estimated to be valued at US$ 1.46 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Prochlorperazine Maleate is an anti-emetic and anti-psychotic medication primarily used to treat nausea and vomiting. It works by affecting levels of certain neurotransmitters in the brain like dopamine and serotonin. It is also used to treat symptoms of psychosis like hallucinations and delusions.
Market key trends:
One of the key trends in the prochlorperazine maleate market is the rising prevalence of schizophrenia and other forms of psychosis globally. According to the National Institute of Mental Health, around 1% of the global population suffers from schizophrenia. Psychotic disorders like schizophrenia are often treated with drugs like prochlorperazine maleate which helps in controlling psychotic symptoms. Thus, the growing burden of psychotic disorders worldwide is anticipated to drive the demand for prochlorperazine maleate over the forecast period.
SWOT Analysis
Strengths:
– Effective medication for treatment of nausea and vomiting conditions
– Well-established options and generic availability driving market access
Weaknesses:
– Associated with numerous side effects such as drowsiness, dizziness, restlessness etc.
– Competition from new alternative drug therapies
Opportunities:
– Increasing adoption in developing countries
– Growing chemotherapy procedures and cancer cases presenting new patient pool
Threats:
– Risk of development of drug resistance and interactions
– Patent expiries of major brands resulting in pricing pressures
Key Takeaways
The global Prochlorperazine Maleate Market Size is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing prevalence of nausea and vomiting inducing conditions such as hyperemesis gravidarum and chemotherapy induced nausea and vomiting.
The market size for prochlorperazine maleate in 2023 is US$ 1.46 Bn. Regionally, North America is expected to dominate the market owing to rising cancer burden and established healthcare infrastructure for symptomatic treatment of nausea and vomiting.
Key players operating in the prochlorperazine maleate market include GlaxoSmithKline plc, Pfizer Inc., Novartis AG, AstraZeneca plc, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sanofi S.A., Johnson & Johnson, AbbVie Inc., Eli Lilly and Company, Merck & Co., Â Inc., Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Ltd., Lupin Limited.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
