The prochlorperazine maleate market is primarily driven by increasing usage of the drug in treatment of nausea and vomiting. Prochlorperazine maleate is an antipsychotic medication that acts as an antagonist of dopamine receptors. It is commonly used for the treatment of nausea, vomiting, schizophrenia and depression. The drug helps in relieving migraine headaches, vertigo and nausea associated with motion sickness. Due to its effectiveness in controlling nausea and vomiting, prochlorperazine maleate is widely used post-surgery and during chemotherapy. The global prochlorperazine maleate market is estimated to be valued at US$ 1.69 Mn in 2024 and is expected to exhibit a CAGR of 3.3% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the prochlorperazine maleate market are Polyclean Technologies Inc., Goverdhan Polygran Pvt. Ltd., Nidhi Enterprises, S.S.B Polymers & S.S.B Enterprises, The Shakti Plastic Industries, Dar AI Khaleej Plastics, GRM Polymer, Jai Shree Balaji Plastic, Kamal Polyplast, Mittal Polymers, Nahata Plastics, Navkar Industries, Amruta Plastic, Raza Traders, Vanshika Plastic Industry, Wiwat Plastic, and Xiamen Keyuan Plastic Co., Ltd. The key players are focusing on expansion of their production facilities and presence across various countries to strengthen their market position.
Key opportunities in the market include increasing healthcare expenditure in emerging economies and rising focus on development of generic drugs. The market players are investing heavily in research and development activities to develop new delivery systems for prochlorperazine maleate to increase compliance rates.
Global expansion is one of the prime strategies adopted by the leading players in the prochlorperazine maleate market. Many regional and local players are entering into collaborations or partnerships with international vendors to extend their geographical presence. Large firms are acquiring small and medium scale regional players to enhance their market share worldwide.
Market Drivers
- Growing incidence of nausea, vomiting, post-operative nausea, vertigo and migraine headaches is driving the demand for Prochlorperazine Maleate Market worldwide. According to the World Health Organization's Global Health Estimates, migraine affected over 1 billion people globally in 2016.
- Increasing focus on development of value-added or specialty drugs for specific therapeutic areas by major players will accelerate the market growth over the forecast period.
Market Restrains
- Presence of alternative drugs for treatment of nausea and vomiting acting as substitutes is a major challenge for the growth of prochlorperazine maleate market. Alternative antiemetic drugs available are dolasetron, granisetron, and ondansetron.
- Side effects associated with long term usage of prochlorperazine maleate such as extrapyramidal effects, neuroleptic malignant syndrome and agranulocytosis limits its adoption. Patients tend to discontinue the medication due to unwanted effects.
Segment Analysis
The prochlorperazine maleate market can be segmented based on product type, application, dosage, distribution channel, and region. Based on product type, the generic/unbranded segment accounts for the largest market share owing to lower costs as compared to branded drugs. Based on application, the schizophrenia segment accounts for the largest share as prochlorperazine maleate is widely used to control nausea and vomiting associated with antipsychotic drugs used to treat schizophrenia. Based on dosage, the injections segment accounts for the highest share due to faster absorption and action. Based on distribution channel, hospitals account for the largest market share due to the availability of advanced medical facilities and healthcare professionals.
Global Analysis
The Asia Pacific region is expected to grow at the fastest rate during the forecast period due to the large population base and rising prevalence of schizophrenia and other psychotic disorders in the region. Within Asia Pacific, China and India are expected to account for the majority share due to the presence of a large patient pool, low manufacturing costs, and increasing healthcare expenditure in these countries. The North America region currently dominates the global market due to the availability of modern healthcare facilities and medical reimbursement structures in the region. However, the market is expected to witness faster growth in developing regions such as Asia Pacific and Latin America during the forecast period.
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