Scopolamine Market to Gain US$ 563.3 Million by the End of 2026, Finds Coherent Market Insights
SEATTLE, April 08, 2021, (PHARMIWEB) — Scopolamine is classified as an alkaloid drug and it belongs to a class of drugs called anticholinergics, which is extracted from a plant called henbane. It is predominantly used for the treatment of nausea and motion sickness and also used to dilate the pupil in the ophthalmic procedure. It blocks the activity of the neurotransmitter acetylcholine, which stimulates the part of the brain that triggers nausea and vomiting, involuntary muscle movement in the lungs, and the gastrointestinal and urinary tracts.
Scopolamine is also used as sedatives or hypnotic in medicine and some time with morphine to relieve pain. Moreover, scopolamine has also been prescribed ‘off label’ for depression, asthma, as a smoking-cessation remedy, and to relieve nausea that accompanies chemotherapy.
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The global scopolamine market size was valued at US$ 370.4 million in 2017 and is expected to witness a CAGR of 4.8% over the forecast period (2018 – 2026).
Global Scopolamine Market Share, By Dosage Form, 2017
Source: Coherent Market Insights Analysis (2018)
Rising prevalence of motion sickness is projected to fuel the market growth of the scopolamine market
Psychological stress is the major factor that causes motion sickness as it impacts intestinal motility, intestinal sensitivity, permeability, and secretion that is co-related with the mucosal immune activation and alterations in the central nervous system.
According to a survey by Buscopan IBS Relief in 2016, stress was the cause for seven out of ten patients suffering from gastrointestinal pain. Hence, the rising population suffering from stress and anxiety disorder is expected to fuel the growth of the global scopolamine market.
Rising usage of scopolamine in Alzheimer’s disease has proven a useful diagnostic test in the determination of the cholinergic system in dementia, which is expected to offer opportunities to the researchers to explore the application of these for the treatment of other neurological disorder, thus this is expected to fuel the market growth over the forecast period.
On the flip side, the use of these drugs is illegal in many regions, which is expected to limit the growth of the scopolamine market. For instance, this drug is more common and easily available in Colombia, where it is used to make victims carry out sexual assaults and robberies. Furthermore, online availability of these drugs at low cost, which is abuse by sexual predators and robbers frequently in the various European regions (in the UK, scopolamine can be bought online for only US$ 12.8) might bring stringent regulations against the manufacturing and marketing of this drug in the near future which may affect the growth of the scopolamine market.
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The scopolamine market is segmented into six major regions- North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Rising consumption of fast food leading to obesity and other stomach related disease is expected to act as one of the major factors driving the growth of the scopolamine market in the 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 American. 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.
The Asia Pacific region is expected to experience significant growth in the scopolamine market, and this can be attributed to the presence of small and medium-sized companies, growing expenditure on healthcare, and increasing medical tourism for surgeries as transdermal scopolamine has been used mostly during surgeries to recover from anesthesia-induced vomiting and nausea.
For instance, India offers 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., make health tourism to India highly appealing to an overseas patient.
Global Scopolamine Market Share Analysis (%), by Key Players, 2017
Source: Coherent Market Insights Analysis (2018)
Smaller companies are focused on various opportunities to gain a foothold in the scopolamine market. For instance, Taiwan-based Caleb
Pharmaceuticals, Inc. introduced Ariel TDDS, a transdermal scopolamine patch to address motion sickness.
At the same time, South Korean pharmaceutical manufacturer Myungmoon Pharm Co. Ltd. developed the Kimite Patch containing scopolamine. These small-time manufacturers export their products to leading markets in Europe and the U.S. thus, which is expected to fuel the growth of the scopolamine market during the forecast period.
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Key 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.About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
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