Global Scopolamine Market, by Dosage Form (Tablet, Syrup, Injection, Patch, and Others), by Distribution Channel (Hospital Pharmacies, Retail pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 462.7 Million in 2022 and is expected to exhibit a CAGR of 4.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Use of scopolamine in Alzheimer's disease may prove useful as a diagnostic or staging test in the evaluation of the cholinergic system in dementia, which provides opportunities to the researchers to explore application of these drugs for other neurological disorders, which in turn is driving the market growth over the forecast period. Key players in scopolamine market are focused on developing new generics products through partnerships to strengthen their product portfolio. For instance, in 2017, Perrigo Company plc. and its co-development partner Aveva Drug Delivery Systems, Inc., launched scopolamine 1.5 mg transdermal system patch, generic equivalent to GlaxoSmithKline’s Transderm Scop (scopolamine 1.5 mg). This transdermal system patch is indicated for prevention of nausea and vomiting in adults associated with motion sickness and recovery from anesthesia and/or opiate analgesia and surgery.
Global Scopolamine 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 has 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.
However, the COVID-19 pandemic had a negative impact on the global scopolamine market, owing to hindrance in the supply chain of raw material and shortage of drugs, which reduced the production of the scopolamine transdermal patches. For instance, in May 2020, the U. S. Food and Drug Administration (FDA) defines drug shortages as ‘The period of time when the demand exceeds the supply of the drug’. Drug shortages may be triggered by several reasons, such as inadequate quantities of raw materials, legislative, manufacturing, or procurement issues, and drug discontinuation from market. During these unprecedented times, the global drug supply could severely get impacted by this pandemic, and the results of this shortage could be catastrophic and may last for an extended period, primarily due to the global economic disruption at unprecedented speed and scale. Intensive care medications have been particularly affected given the significant surge in use and demand of narcotics, sedatives and neuromuscular blockers. Pharmacists are expected to be involved in strategies to deal with these shortages which involve evaluating and switching to alternative generic medications and switching between therapeutic options.
Global Scopolamine Market: Key Developments
In March 2022, the Center for Disease Control and Prevention had reported increase in demand for transdermal scopolamine patches in the U.S. for handling the post-operative surgery crisis. Moreover, in September 2021, at Stanford University and Antheia, a synthetic biology company report the first successful microbial biosynthesis of the tropane alkaloids hyoscyamine and scopolamine, a class of neuromuscular blockers naturally found in plants in the nightshade family. The tropane alkaloids hyoscyamine and scopolamine are used in treating neuromuscular disorders such as Parkinson’s disease, intestinal disorders, and other issues caused by muscle spasms.
Browse 19 Market Data Tables and 23 Figures spread through 151 Pages and in-depth TOC on “Global Scopolamine Market”- Forecast to 2030, Global Scopolamine Market, by Dosage Form (Tablet, Syrup, Injection, Patch, and Others), by Distribution Channel (Hospital Pharmacies, Retail pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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https://www.coherentmarketinsights.com/market-insight/scopolamine-market-1965
Key Takeaways of the Global Scopolamine Market:
- Global scopolamine market is expected to exhibit a CAGR of 4.8% during the forecast period, owing to presence of small and medium size market players in the Asia Pacific region, increased expenditure on healthcare, and growing medical tourism for surgeries as transdermal scopolamine has been used frequently during surgeries to recover from anesthesia induced vomiting and nausea. For instance, India has several super specialty hospitals for providing cardiology and cardiothoracic surgery, orthopedic surgery, organ transplant surgery etc. at affordable and inexpensive costs, around 30% to 70% lower the cost as compared to the U.S., which makes health tourism to India highly appealing to an overseas patient.
- Among distribution channel, the hospital pharmacies segment is estimated to hold a dominant position in the global scopolamine market over the forecast period, owing to the increased chronic surgeries and utilization of scopolamine patches during surgeries to prevent hyper salivation and to speed-up the recovery from post-operative and anesthesia induced vomiting and nausea.
- Among regions, North America is estimated to account for the largest market share in the global scopolamine market over the forecast period, owing to the increasing net sales of scopolamine drugs in the region. Increasing consumption of unhealthy food leading to obesity and other stomach related infections act as one of the major factors driving growth of the scopolamine market in North America region. According to an article published in the Brandon Gaille, in 2017, junk food accounts for 28.8% of the total caloric intake of an average U.S. citizen. Consumption of unhealthy food in large quantity increases the risk of developing irritable bowel syndrome, which is acting as a driving factor for the global scopolamine market growth.
- Major players operating in the global scopolamine market include Baxter International Inc., GlaxoSmithKline plc. Novartis AG, Perrigo Company plc., Caleb Pharmaceuticals, Inc., Myungmoon Pharma Co. LTD., Alchem International, Phytex Australia, Centroflora-Cms, Alkaloids of Australia, and Fine Chemicals Corporation
