Scopolamine Market - Growth, Trends, and Forecast (2020 - 2025)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 120 Pages
The market studied is expected to witness CAGR of 6% over the forecast period. The market growth is attributed to the increasing prevalence of motion sickness and growing awareness among the population. Psychological stress is one of the major contributing factors of motion sickness. These psychological factors affect intestinal sensitivity and alteration in the central nervous system. Also, the introduction of novel drug delivery systems such as transdermal patches and adaptation of these dosage forms are expected to bolster the market growth over the forecast period.
Furthermore, the growing number of travellers across the globe, increasing number of surgeries due to chronic conditions is expected to boost the market growth. However, misuse of scopolamine, side effects and stringent regulatory policies are expected to hamper the market growth over the forecast period.
Transdermal Patches Anticipated to Grow at Significant Rate
Transdermal patches are widely used nowadays in the treatment of motion sickness. The transdermal patches are prefered due to ease of use, cost-effectiveness and availability. The patch is applied to the hairless skin behind the ear and is used to treat the motion sickness caused by the anaesthesia during the surgeries. According to the world health organization, about 234.2 million major surgeries are performed around the globe every year. Owing to the growing number of surgical interventions across the globe coupled with the launch of new products, the market for transdermal scopolamine patches are expected to grow at a significant rate.
Also, the growing number of domestic and international travellers around the globe and the usage of scopolamine to treat motion sickness during travelling expected to boost market growth over the forecast period.
North America is Expected to have Significant Market Share
North America region is anticipated to have significant market share owing to well-established healthcare infrastructure and the presence of key market players. Also, a growing number of surgeries in the region, an increasing number of travellers coupled with product launches are anticipated to boost the market growth over the forecast period. According to the U.S. Travel Association, U.S. domestic travel has increased by 1.9% in 2018, a total of 2.3 billion person-trips. The Asia Pacific region is expected to grow at significant rates owing to increased expenditure on healthcare, presence of medium and small-sized market players and growing medical tourism for the surgeries in the region.
Global scopolamine market is moderately fragmented and competitive. Market players are focusing on new product launches, product innovations and geographical expansion. The companies operating in the market include Pfizer Inc., Baxter International Inc., Myungmoon Pharm Co Ltd., and Alchem International Pvt. Ltd. among others.