Pimozide Tablet Market Report 2024

This Pimozide Tablet market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The pimozide tablet market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The increase during the historical period can be attributed to higher rates of mental disorder diagnoses, greater awareness of mental health issues, better insurance coverage, enhanced healthcare infrastructure, and a growing elderly population.

The pimozide tablet market size is expected to see strong growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The anticipated growth during the forecast period is driven by better access to mental health services, rising disposable incomes, the introduction of generic mental health medications, new regulatory approvals and label expansions, and improved management of side effects. Key trends for the forecast period include technological advancements, the expansion of e-commerce platforms, progress in psychiatric diagnostic techniques, market growth in emerging economies, and the rise of telemedicine and online consultations.

The increasing prevalence of psychiatric disorders is expected to drive the growth of the pimozide tablet market in the future. Psychiatric disorders refer to mental health conditions marked by significant disturbances in thoughts, emotions, or behaviors, which lead to distress or impaired functioning. Factors contributing to the rising prevalence of psychiatric disorders include elevated stress levels, evolving societal norms, greater awareness and improved diagnosis, and genetic predispositions. Pimozide tablets are commonly used in treating psychiatric disorders by managing symptoms such as delusions and tics, as they work by blocking dopamine receptors to help reduce abnormal brain activity. For example, in February 2022, the NCD Alliance, a Switzerland-based civil society network, reported that 55 million people worldwide are living with dementia, with nearly 10 million new cases diagnosed annually. This figure is expected to rise to approximately 75 million by 2030 and 139 million by 2050. Consequently, the growing prevalence of psychiatric disorders is fueling the demand for pimozide tablets.

The rise in healthcare expenditure is expected to fuel the growth of the pimozide tablet market. Healthcare spending is increasing due to higher costs for advanced medical technologies, an aging population, and the prevalence of chronic diseases. This increased expenditure enhances access to mental health treatments and broadens insurance coverage for psychiatric medications, driving demand for pimozide tablets. For example, the National Institutes of Health, a US-based government agency, reported in January 2024 that healthcare expenditure in the US grew by 4.1% in 2022, reaching $4.5 trillion, a notable increase from the 3.2% growth observed in 2021. Consequently, rising healthcare spending is contributing to the growth of the pimozide tablet market.

In April 2022, Saladax Biomedical Inc., a US-based medical laboratory, acquired a patent portfolio for antipsychotic drug testing from Janssen Pharmaceutica NV for an undisclosed amount. This acquisition positions Saladax as a prominent player in the antipsychotic drug testing field, enhancing its capabilities in therapeutic drug monitoring (TDM) for major antipsychotic medications used globally. Janssen Pharmaceutica NV, based in Belgium, is a provider of antipsychotic drugs, including pimozide.

Major companies operating in the pimozide tablet market are Pfizer Inc., Johnson & Johnson, AbbVie Inc., Novartis AG, Bristol-Myers Squibb, GlaxoSmithKline plc, C.H. Boehringer Sohn AG & Co. KG, Teva Pharmaceutical Industries Ltd., Hetero Drugs, Sun Pharmaceutical Industries Ltd., Jazz Pharmaceuticals, Aurobindo Pharma, Cipla Limited, Apotex Inc., H. Lundbeck A/S, Dr. Reddy's Laboratories, Hikma Pharmaceuticals, Amneal Pharmaceuticals, Endo International, Lupin Limited, Zydus Cadila, Alkem Laboratories, Torrent Pharmaceuticals, Glenmark Pharmaceuticals, Mallinckrodt Pharmaceuticals, Jubilant Life Sciences, Alembic Pharmaceuticals, Wockhardt, AA Pharma, Taj Pharmaceuticals.

North America was the largest region in the pimozide tablet market in 2023. The regions covered in the pimozide tablet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the pimozide tablet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Pimozide tablets are antipsychotic drugs mainly prescribed for managing Tourette's syndrome and chronic psychosis. They function by inhibiting dopamine receptors in the brain, which helps alleviate symptoms such as tics and hallucinations. These tablets are usually recommended when other treatments have failed.

Pimozide tablets are available in 1 milligram, 2 milligrams, and 4 milligrams. The 1 mg tablets contain pimozide as the active ingredient, along with calcium stearate, microcrystalline cellulose, lactose anhydrous, and corn starch as inactive ingredients. They are distributed through both online and offline channels and are used for treating Tourette's syndrome and chronic schizophrenia. The tablets are utilized by various end users, including hospitals, clinics, and individuals for home use.

The pimozide tablets market research report is one of a series of new reports that provides pimozide tablets market statistics, including pimozide tablets industry global market size, regional shares, competitors with a pimozide tablets market share, detailed pimozide tablets market segments, market trends and opportunities, and any further data you may need to thrive in the pimozide tablets industry. This pimozide tablets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pimozide tablet market consists of sales of orap, orap forte, and opiran. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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