Prochlorperazine maleate is an antipsychotic medication with antiemetic properties used for the treatment of nausea and vomiting symptoms and other disorders. It works as an antagonist of D2-type dopamine and serotonin receptors in the brain which helps in controlling nausea and vomiting. The growing prevalence of nausea and vomiting disorders such as dizziness, motion sickness, and cancer chemotherapy-induced nausea & vomiting is majorly driving the demand for prochlorperazine maleate for early management.
The global Prochlorperazine Maleate Market is estimated to be valued at US$ 1.46 Billion in 2023 and is expected to exhibit a CAGR Of 3.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends accelerating the growth of the prochlorperazine maleate market is increasing research & development activities for developing novel delivery systems and improved formulations. Ongoing clinical trials as well as new product developments for controlled drug delivery systems such as implants, transdermal patches, and long-acting injectables by major players is likely to boost market growth over the forecast period. For instance, TG Therapeutics is developing a long-acting injectable formulation TGTX-101 containing prochlorperazine for the treatment of schizophrenia. The new drug application submission for TGTX-101 is expected by 2024 which will offer sustained release of the drug up to 4 weeks post-administration compared to oral capsules. Such novel and enhanced drug delivery systems are anticipated to drive the demand for prochlorperazine maleate.
Segment Analysis
The global prochlorperazine maleate market is dominated by the oral solid sub-segment. Prochlorperazine maleate oral tablets account for nearly half of the overall market share due to ease of administration and better patient compliance for long term use. Prochlorperazine maleate injection holds a lower market share owing to its use restricted to critical/emergency conditions.
Key Takeaways
The Global Prochlorperazine Maleate Market Demand is expected to witness high growth during the forecast period of 2023-2030. With increasing prevalence of nausea, vomiting, and psychiatric disorders, the demand for antiemetic and antipsychotic drugs like prochlorperazine maleate is expected to rise significantly.
Regional analysis
North America currently dominates the prochlorperazine maleate market owing to high healthcare expenditure and growing patient pool afflicted with conditions requiring prochlorperazine maleate therapy. Asia Pacific is expected to witness the fastest growth over the forecast period due to expansion of healthcare facilities in developing countries, rising awareness regarding treatment of psychiatric disorders, and growing geriatric population.
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.
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