February 23, 2024
Prochlorperazine Maleate Market

Prochlorperazine Maleate Market Growth Is Set To Driven By Rising Prevalence Of Migraine And Nausea

Prochlorperazine Maleate is an antipsychotic and antiemetic drug that acts as a dopamine receptor antagonist. It is commonly used to treat migraine, nausea, and vomiting associated with conditions like motion sickness. As a first-line treatment in nausea and vomiting management, Prochlorperazine Maleate works effectively to block dopamine receptors in the chemoreceptor trigger zone of the brainstem that regulates vomiting reflex. The generic availability and low-cost of Prochlorperazine Maleate has made it a preferred choice over branded anti-emetic drugs. It is available in oral tablet, suppository, and injection dosage forms for effective delivery.

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 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends driving growth in the Global Prochlorperazine Maleate Market Size is the rising prevalence of conditions causing nausea and vomiting like migraine disorders. According to the World Health Organization, migraine affects over 1 billion people globally. With lack of effective treatments available, Prochlorperazine Maleate has emerged as a cost-effective and reliable option for migraine-related nausea management. Additionally, increased clinical research evaluating safety and efficacy of Prochlorperazine Maleate for other gastrointestinal conditions like chemotherapy-induced nausea is also fueling its demand. The introduction of new drug delivery methods like sublingual tablets and oral dispersible tablets by major manufacturers is further expected to boost the Prochlorperazine Maleate market during the forecast period.

Porter’s Analysis:

The threat of new entrants into the Prochlorperazine Maleate market is low. There are substantial costs involved in R&D for new drugs which deters new players.

The bargaining power of buyers is moderate. There exists a large number of established buyers however brand loyalty is low.

The bargaining power of suppliers is moderate. Key raw material suppliers exist but alternatives are available.

The threat of new substitutes is moderate. Alternatives exist but Prochlorperazine Maleate has an established patient base.

Competitive rivalry in the market is high as the major players compete on the basis of price and quality.

Key Takeaways:

The global Prochlorperazine Maleate market is expected to witness high growth over the forecast period. 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 3.3% over the forecast period 2023 to 2030.

Regional analysis:

The Asia Pacific region accounts for the largest share of the global Prochlorperazine Maleate market currently. China and India are the major markets driving the regions growth. This can be attributed to increasing healthcare expenditures, large patient population, growing generic drug industry and focus on cost-effective treatments in the region.

Key players:

Key players operating in the Prochlorperazine Maleate market are Polyclean, XIAN-PUREN, CAPSTE (Xi’an) Bio-Tech, New Donghai Pharmaceutical, and Euticals. Polyclean is one of the dominant players producing Prochlorperazine Maleate under their Polycillin brand. XIAN-PUREN is a prominent Chinese manufacturer focusing on the domestic market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it