Global Ziprasidone Market - 2022-2029

Global Ziprasidone Market - 2022-2029

Market Overview

The Ziprasidone Market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

Ziprasidone, commonly known as Geodon, is an atypical antipsychotic of the second generation that is used to treat schizophrenia and bipolar disorder, among other things. The pills include hydrochloride salt and ziprasidone hydrochloride, which rebalances dopamine and serotonin in the brain to improve mood and behavior.

Market Dynamics

The increasing prevalence of mental disorders worldwide is expected to drive market growth.

According to the World Health Organization, Schizophrenia causes psychosis, is associated with considerable disability and may affect all areas of life, including personal, family, social, educational, and occupational functioning. Schizophrenia affects around 24 million people globally or one in every 300 people (0.32 percent). Adults have a rate of 1 in 222 (0.45 percent). It is not as widespread as many other mental illnesses. Therefore, the demand for the medication has increased due to an increase in certain mental health conditions, which are largely treated with Ziprasidone.

Furthermore, the medicine is recommended because of the immediate effect visible when delivering the dose, resulting in immediate alleviation. Moreover, Dr. Reddy's announced the launch of Ziprasidone Mesylate on March 17, 2020, intending to make healthcare more affordable by giving value to the pharmacy. Thus, from the above statements, the market is expected to drive in the forecast period.

Side effects associated with ziprasidone are expected to hamper the market growth.

Ziprasidone is a medicine that increases the risk of weight gain, diabetes, and high cholesterol. Also, using ziprasidone is not recommended if the patient has a history of heart rhythm disorders, long QT syndrome, or uncontrolled heart failure, which diminishes the product's demand. Ziprasidone's low demand is due to side effects such as respiratory tract infections, extrapyramidal symptoms, akathisia, altered eyesight, dizziness, vomiting, headache, and nausea. Likewise, the availability of more effective alternatives like haloperidol, quetiapine, and aripiprazole diminishes market demand for ziprasidone. The metabolic syndrome health hazards associated with utilizing the product will hamper the market growth in the forecast period.

Industry Analysis

The ziprasidone market provides in-depth analysis of the market based on various industry factors such as supply chain analysis, pricing analysis etc.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. COVID-19 has an impact on people's mental health and quality of life. COVID-19 induces panic, anxiety, depression, and insomnia, particularly in patients and health care workers. Patients with COVID-19 may be prescribed mental medications. In addition, some COVID-19 patients have been using psychiatric medicines for various reasons. As a result, there is a risk of drug-drug interaction (DDI) between psychiatric medicines and drugs used to treat COVID-19. The cytochrome P450 system is responsible for the metabolism of several psychiatric medications.

In contrast, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of economic activities.

Segment Analysis

Oral Capsules segment is expected to hold the largest market share in ziprasidone market

The oral capsules segment is expected to dominate in 2021. The segment benefits because the capsules have been approved by the US Food and Drug Administration (FDA) for long-term treatment of individuals with bipolar disorder due to their effectiveness and patient tolerability. The simplicity of long-term usage required due to the chronic nature of the sickness and the requirement of lesser doses of the medicine to be given at different times to improve the efficacy of the treatment also contribute to the demand. Oral capsules are less likely to cause an overdose. Oral capsules for Ziprasidone are less expensive than injections, making the medication more accessible and increasing demand. Thus, from the above statements, the market segment is expected to hold the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global ziprasidone market

In 2021, North America accounted for the highest revenue share. The increasing prevalence of bipolar disorders, high adoption of ziprasidone drugs, product launches and acquisitions by the market key players and rising clinical trials in the region are some factors the market is expected to boost in the forecast period. For instance, according to the National Institute of Mental Health, Bipolar disorder affects approximately 5.7 million adult Americans, or about 2.6% of the U.S. age 18 and older every year. Moreover, bipolar illness affects an equal number of men and women and affects people of all ages, races, ethnic groups, and social classes. Additionally, Upjohn, a part of Pfizer, announced the completion of the Phase 3 pediatric clinical trial for Geodon on November 10, 2020. (ziprasidone). The study looked at the efficacy and safety of ziprasidone in children and adolescents with bipolar I disorder. Thus, from the above statements, the North American region is expected to hold the largest market share in the forecast period.

Competitive Landscape

Major key players in the ziprasidone market are Pfizer Inc., Sandoz AG, Lupin Pharmaceuticals, Inc., Mylan Pharmaceuticals, Apotex, Dr. Reddy's laboratories Ltd. , Wockhardt, Aurobindo Pharma USA.

Pfizer Inc.:

Overview:

Pfizer Inc. is an American multinational pharmaceutical company that offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. It has a portfolio of over 150 products across 15 therapeutic areas. The company develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology.

Product Portfolio:

GEODON (ziprasidone HCl): GEODON Capsules are indicated for treating schizophrenia in adults, acute treatment in adults as monotherapy of manic or mixed episodes associated with bipolar I disorder, and maintenance treatment of bipolar I disorder as an adjunct to lithium or valproate in adults.

The global ziprasidone market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.