Perphenazine Market Size, Share, Growth, and Industry Analysis, By Type (Oral Forms and Injectable Solution), By Application (Psychosis and Antiemetic), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Perphenazine Market Report Overview

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The global perphenazine market size was USD 97.8 million in 2021 and is projected to touch USD 135.8 million by 2031, exhibiting a CAGR of 3.3% during the forecasting period.

The anti-psychotic drug perphenazine belongs to the class of medications known as phenothiazines. It functions by altering the way that certain brain chemicals behave. Schizophrenia and other psychotic diseases are treated with this drug. Extreme nausea and vomiting are also managed with it. Solid or liquid drugs administered by mouth are known as oral forms. They can be given to patients in a number of different forms, including pills, capsules, syrups, and solutions. Sancilio (Phenobar), a chewable tablet containing sodium phenobarbital, is the most widely used oral form of phenobarbital. Parkinson's disease, anxiety disorders, attention deficit hyperactivity disorder (ADHD), epilepsy, multiple sclerosis, rheumatoid arthritis and osteoarthritis pain management, among other illnesses, are treated with perphenazine.

A type of medication delivery device called an injectable solution enables intravenous or subcutaneous administration of medication. The demand for long-acting formulations and the rising prevalence of chronic disorders like diabetes are driving the market for injectable solutions to a profitable growth over the forecast period. Injectable are used to treat a number of conditions, including obesity, osteoporosis, arthritis, and asthma. Based on application, the perphenazine market is divided into psychosis, antiemetic, and other segments. Analgesia, sedation, and general anaesthesia are among the additional applications. Both in terms of income and volume, the antiemetic category dominated the whole market. This high usage rate was mostly brought on by emetophobia—an abnormal dread of vomiting—and nausea brought on by chemotherapy or radiation therapy for cancer.

COVID-19 Impact: Delays Due to Lockdown to Impede Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with Perphenazine market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributed to the perphenazine market growth and demand returning to pre-pandemic levels once the pandemic is over.

It is now difficult to determine whether the present epidemic is a benefit or a curse for the pharmaceutical sector because it has not only wreaked havoc on the country as a whole but also on the whole pharmaceutical industry. As countries and industries continue to cope with the unparalleled challenges presented by the novel coronavirus (COVID-19), a specific area of concern has been the uncertainty surrounding the impact of the COVID-19 pandemic on the global and Indian supply chains of the pharmaceutical industry. The COVID-19 crisis had demonstrated the importance of establishing a risk management system that focuses on assessing future risks resulting from the loss of a supply chain among countries.

The biggest issues identified involved delays, longer lead times, and rising expenses in overseas shipping. Contrary to predictions, manufacturers claimed that their reliance on China for API supplies has decreased in recent years, therefore the shortage of access to the active pharmaceutical ingredients (APIs) needed for ARV drug development was not a significant barrier. The fact that they had to rely on foreign markets for the raw materials needed for domestic API synthesis was a significant obstacle.

LATEST TRENDS

"Growing Awareness about Mental Health to Boost Market Growth"

The significance of mental health and its effect on general wellbeing are becoming increasingly well-known. The demand for perphenazine will probably rise as a result in the upcoming years. An alarming increase in the prevalence of stress and anxiety has led to a greater demand for this drug and other anxiety and stress management medications. This is the reason why it is provided in therapies.

Perphenazine Market Segmentation

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• By Type

Based on type; the market is divided into oral forms and injectable solution.

In terms of product, oral forms are the largest segment.

• By Application

Based on application; the market is divided into psychosis and antiemetic.

In terms of application, psychosis is the largest segment.

DRIVING FACTORS

"Incidence of Mental Diseases Rising to Enhance Market Growth"

The prevalence of mental problems is rising at an alarming rate on a global scale. In the upcoming years, this is anticipated to fuel the need for the drug. The drug helps patients calm down and release tension. It is sold at a large scale in mental asylums and pharmacies. Schizophrenia is a mental condition that causes confused or strange thinking, lack of interest in life, and strong or inappropriate emotions. Perphenazine is used to treat the symptoms of this illness.

"Growing Number of Research Studies on Perphenazine to Augment Market Growth"

Perphenazine research has increased significantly in recent years, suggesting possible therapeutic advantages over other drugs for the treatment of mental problems. This is going to encourage perphenazine market growth in the future.

RESTRAINING FACTORS

"Inadequate Number of Specialists to Constrain Market Growth"

This market's growth is constrained by a number of issues, including the high cost of care and a lack of skilled specialists. Despite increased awareness, few people take mental health seriously. There is a dearth of qualified specialists because few people are interested in becoming psychiatric therapists. Growing mental health issues are burdening an insufficient team with more work, which reduces their effectiveness.

Perphenazine Market Regional Insights

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"North America to Dominate the Market Due to Prominent Manufacturers"

Global perphenazine sales were largely driven by North America and it dominates a huge part of perphenazine market share. One of the main factors influencing its growth is the high frequency of mental diseases and growing knowledge of the many treatment methods. Furthermore, the presence of important manufacturers like Shire US LLC, FMC Corporation, Sun Pharmaceutical Industries Ltd., and Cipla Inc. is anticipated to fuel growth throughout the forecast period. As a result of rising disposable income, improved healthcare infrastructure, rising patient awareness levels, and increased government initiatives to address the issue of substance abuse, particularly in developing nations like India, the region is anticipated to experience one of the fastest rates of growth during the forecast period.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report gives a thorough overview of the analysis of key characteristics of the market, including sales value, sales volume, market revenue, and demand size, as well as sales growth, pricing analysis, and shifting regional market growth factors. The report includes information on market participants and their relative standings within the market. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being acquired and made available. Data on manufacturers, regions, types, applications, sales channels, and distributors are included in the study on materials.

List of Market Players Profiled

• Teva (Israel)
• Sandoz (Switzerland)
• Endo (U.S.)
• Mylan (India)
• ZHPHARMA (U.K.)
• Shandong Boshan Pharma (China)

REPORT COVERAGE

We have used primary and secondary research methods to analyses the perphenazine market. The chapter on the COVID-19 pandemic's effects on the market is included in the study. Understanding current market dynamics, the supply-demand imbalance, pricing trends, product preferences, consumer behaviors, and other factors will be made easier with the aid of this research. The market's drivers, limitations, opportunities, and dangers are thoroughly explained. Primary research was used to further validate the findings with industry professionals and opinion leaders from other nations. Through a variety of market estimation and data validation procedures, the data is further collated and validated.