Prochlorperazine Maleate Market Is Estimated To Witness High Growth Owing To Increasing Incidences Of Nausea And Vomiting
Prochlorperazine maleate is an antidepressant used to treat nausea and vomiting. It works by blocking dopamine receptors in the brain. It is prescribed to treat nausea caused by conditions such as gastroenteritis, motion sickness, and as a premedication for surgery and chemotherapy. Prochlorperazine maleate tablets and suppositories are available generically and under the brand names Compazine. Prochlorperazine is also used to treat schizophrenia and symptoms of psychosis like delusions and hallucinations.
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 Dynamics:
The prochlorperazine maleate market is expected to witness high growth owing to increasing incidences of nausea and vomiting. As per the statistics provided by the American Cancer Society, around 1.9 million new cases of cancer were recorded in 2022 in the United States. Cancer chemotherapy is one of the major causes nausea and vomiting. Thus, rising cancer prevalence is anticipated to boost the demand for antiemetic drugs like prochlorperazine maleate.
Further, increase in motion sickness cases is also expected to propel the market growth over the forecast period. Prolonged traveling via air, sea or land often causes nausea, dizziness and vomiting in people. According to the WHO, around 28-40% of general population suffer from motion sickness. Therefore, growing tourism and travel industry will aid in increasing consumption of antiemetic drugs including prochlorperazine maleate.
SWOT Analysis
Strength: Prochlorperazine maleate is a widely used antipsychotic drug used for treating nausea, vomiting, vertigo and migraine. It is also used as an adjunct in general anesthesia. Being an established generic drug, it is widely available and affordable. Its long track record of usage makes it a reliable and safe option for patients. Prochlorperazine maleate has a good safety profile at standard dosage levels with few contraindications and drug interactions.
Weakness: Long term usage of prochlorperazine maleate has been associated with increased risk of extrapyramidal symptoms like acute dystonia, tardive dyskinesia, akathisia etc. It has potential for rare but serious adverse effects like agranulocytosis, neuroleptic malignant syndrome which requires close monitoring. Generic competition has reduced profitability for major players.
Opportunity: Rising prevalence of nausea, vomiting and migraine disorders globally presents significant growth opportunity. Increased focus on early intervention and management of postoperative nausea and vomiting indicates need for cost-effective antiemetic therapies. Expanding access to healthcare in developing regions will drive demand. Emerging economies offer scope to strengthen generic drug formulations.
Threats: Patent expiries of major drugs have intensified price competition. Stringent regulations on safety of long-term antipsychotic use act as a deterrent. Alternate therapies especially for nausea and vomiting present competitive threats.
Key Takeaways
The Global Prochlorperazine Maleate Market Demand is expected to witness moderate growth over the forecast period. Being an established generic drug, it has limited scope for high revenue growth compared to new drug launches. However, rising disease burden globally will ensure steady demand growth.
Regional analysis:
North America dominates currently due to high healthcare accessibility and spending. However, Asia Pacific is expected to witness fastest growth aided by expanding healthcare infrastructure, growing medical tourism and increasing affordability in major economies. China and India are expected to be among the fastest growing regional markets.
Key players:
Key players operating in the prochlorperazine maleate market are 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., Inc., Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Ltd., Lupin Limited. The market is highly genericized with these major pharmaceutical companies marketing prochlorperazine maleate under different brand names. Price competition is intense.
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