Global Scopolamine API Market, by Form (Powder and Liquid), by Purity (≥99% and ≥ 98%), by Scale of Production (Industrial scale, Pilot scale, and Laboratory scale), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of surgeries is expected to propel the growth of the global scopolamine API market during the forecast period. For instance, according to an article published in Springer Nature, a German-British academic publishing company, in September 2020, an average of 4,624 surgeries are performed per year in India and the national estimate after standardization is 3,646 surgeries per year per 100,000 Indian population.
Global Scopolamine API Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic
The COVID-19 pandemic had a negative impact on the scopolamine API market, owing to the disruption in the supply of raw materials required for the production of pharmaceuticals. As the link between regional warehouses was not smooth, transportation of raw materials between regions couldn’t be carried out successfully. This shortage of raw materials and components had negatively affected the supply chain of the scopolamine API market. Thus, the COVID-19 pandemic is expected to have negative impact on supply chain of scopolamine API market. Supply chain disruptions and product exportation restrictions from India resulted from manpower shortages in China’s manufacturing plants. This was caused by the quarantine policies adapted and adopted by different provincial governments in China in response to the virus. Supplies were further impacted by the disruption of logistic and transportation systems, restricting access and movement of products to and from ports.
Browse 69 Market Data Tables and 31 Figures spread through 202 Pages and in-depth TOC on “Global Scopolamine API Market”- Forecast to 2030, Global Scopolamine API Market, by Form (Powder and Liquid), by Purity (≥99% and ≥ 98%), by Scale of Production (Industrial scale, Pilot scale, and Laboratory scale), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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The changing government regulations to make scopolamine formulations of particular size pack available in the general retail outlets is expected to drive the market growth over the forecast period. For instance, in February 2022, the Medicines and Healthcare Products Regulatory Agency (MHRA), regulating medicines, medical devices, and blood components for transfusion in the U.K., considered a pack size of 60 tablets of Hyoscine Butylbromide (each tablet of 10mg) safe for sale through general retail outlets.
Key Takeaways of the Global Scopolamine API Market:
- The global scopolamine API market is expected to exhibit a CAGR of 5.3% during the forecast period due to the increasing prevalence of irritable bowel syndrome (IBS). For instance, according to an article published by Cureus, an open access general medical journal, in January 2021, a cross-section study was conducted in the internal medicine unit of a tertiary care hospital in multiple cities of Pakistan from June 2019 to August 2019 to find out the prevalence of irritable bowel syndrome in healthy population and determine the characteristics of symptoms. According to the results, the prevalence of Irritable Bowel Syndrome in general population was 33.2% in Pakistan.
- On the basis of purity, ≥99% segment is estimated to dominate the market growth in 2022. Scopolamine Hydrobromide with ≥99% purity contains a competitive, non-selective antagonist for muscarinic acetylcholine receptors (mAChR). It is most effective at treating motion sickness.
- Among scale of production, the industrial scale segment is expected to dominate the market over the forecast period. The last stage of scale up in the manufacturing process of active pharmaceutical ingredients (API) is the industrial scale. Industrial scale batches are referred to as the 100X batch and this is the scale at which fully integrated contract research organizations, and more importantly contract development and manufacturing organizations (CDMOs) carry out routine marketing of products.
- 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