SCOPOLAMINE API MARKET ANALYSIS

Scopolamine, also known as hyoscine, or devil's breath, is a natural or synthetically produced tropane alkaloid and anticholinergic drug that is formally used as a medication for treating motion sickness and postoperative nausea and vomiting. It has applications in prevention of nausea, vomiting, and dizziness associated with motion sickness and recovery from anesthesia and surgery. Scopolamine may also be used to treat certain stomach or intestinal problems, such as spastic muscle states, diverticulitis, irritable bowel syndrome, Parkinson-like conditions etc.

The global scopolamine API market is estimated to be valued at US$ 292.96 million in 2022 and is expected to exhibit a CAGR of 5.3% during the forecast period (2022-2030).

Figure 1.Global Scopolamine API Market Share (%), by Form, 2022

Increasing number of surgeries globally is expected to drive growth of the scopolamine API market

Scopolamine is used as a medication for treating postoperative nausea and vomiting. Thus the rising number of surgeries is expected to drive the market growth over the forecast period. For instance, according to the news provided by the Asiri Central’s Brain and Spine Centre, in March 2020, Colombo marked a significant milestone recently of having performed 10,000 neurosurgical procedures since it was established in June 2010. The hospital has treated an average of 1,000 patients per year over the past five years

Figure 2.Global Scopolamine API Market Share (%), by Purity, 2022

Increasing product launch by key players in the market is expected to drive the market growth during the forecast period.

The key players in the market are adopting organic growth strategies such as product launch, which is expected to drive the market growth over the forecast period. For instance, in October 2019, Perrigo Company plc, an over-the-counter consumer goods and specialty pharmaceutical company, announced the relaunch of the AB rated generic equivalent of Transderm Scop (scopolamine 1.5 mg), used to treat the symptoms of nausea or vomiting.

Global Scopolamine API Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of products from one place to another

The COVID-19 pandemic had a negative effect on the global scopolamine API market due to the decline in surgical operations for chronic conditions brought on by the ongoing COVID-19 pandemic. According to an article published by the Wolters Kluwer Health,Inc. an organization providing professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors, the COVID-19 pandemic has led to significant disruption in the provision of surgical services, with an estimated cancellation of 28 million operations worldwide during the first wave of covid alone.

Global Scopolamine API Market: Restraint

The major factor that hinder growth of the global scopolamine API market include side effects associated with scopolamine and misuse of scopolamine. Scopolamine may cause side effects such as dry mouth, sleepiness, urinary retention, agitation, dilated pupils, sore throat, drowsiness, dizziness, etc. Some side effects can be serious which include rash, redness, difficulty speaking, seizure, painful or difficulty urinating, stomach pain, nausea, vomiting, etc.

Key Players

Major players operating in the global scopolamine API market include Phytex Australia., Aspen Holdings, LGM Pharma, Midas Pharma GmbH, Transo-Pharm Handels-GmbH, Aktin Chemicals,Inc, Merck KgaA, Alchem International Pvt. Ltd., Tiefenbacher API + Ingredients GmbH & Co. KG, Spectrum Chemical, Vital Laboratories Pvt Ltd, Clearsynth, Prism Industries Ltd, Alkaloids Corporation., and Manus Aktteva Biopharma LLP