Scopolamine is a natural or synthetically produced tropane alkaloid and anticholinergic drug which is also known as hyoscine. It is used to prevent nausea and vomiting caused by motion sickness or medications used during surgery. Thus, the growing aging population across the globe coupled with an increase in the number of patients having chronic diseases leading to a rise in the number of surgeries are also some of the factors contributing to the growth of the scopolamine market globally. For instance, around 18 million Americans aged 20 and above have heart disease and nearly 650,000 Americans die of heart disease each year. Also, around 85,000 vascular reconstruction surgeries are performed across the globe annually.
The Scopolamine Market is expected to grow at a steady rate of around 5% during the projected timeframe. Factors such as an increase in the number of tourists coupled with rising in the number of people having motion sickness, increasing adoption, and product launches in the market are some of the prominent factors that are positively influencing the market growth globally.
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Based on dosage form, the scopolamine market is segmented into injectables, tablets, transdermal patches, and others. The transdermal patches scopolamine segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as they are widely for the treatment of motion sickness nowadays. Furthermore, growth in the number of domestic and international travelers and in areas of product launches in the market is also positively influencing the growth of the market.
On the basis of distribution channels, the market is fragmented into hospital pharmacies, retail pharmacies, and others. Among these, the hospital pharmacies to hold a significant share in the market in 2020. This is mainly due to the increasing preference of the patients to avail treatment in hospitals and the easy availability of the medication in hospital pharmacies. However, the other segment is expected to witness significant growth owing to the growing penetration of e-pharmacy platforms across the world coupled with increasing awareness regarding services offered by e-pharmacy.
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For a better understanding of the market adoption of the Scopolamine industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure, a rising number of surgeries, and an increasing number of travelers in the region. Furthermore, the presence of key industry players in the region and an increasing number of product launches are also some of the factors contributing to the market growth.
Some of the major players operating in the market include Pfizer Inc., Baxter International Inc., Myungmoon Pharm Co Ltd., Novartis AG, Perrigo Company PLC, Fine Chemicals Corporation, GSK plc, Alchem International Pvt. Ltd., Phytex Australia Pty Ltd., Caleb Pharmaceuticals, Inc.
Global Scopolamine Market Segmentation
Market Insight, by Dosage Form
· Injectables
· Tablets
· Transdermal Patches
· Others
Market Insight, by Distribution Channel
· Hospital Pharmacies
· Retail Pharmacies
· Others
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Pfizer Inc.
· Baxter International Inc.
· Myungmoon Pharm Co Ltd
· Novartis AG
· Perrigo Company PLC
· Fine Chemicals Corporation
· GSK plc
· Alchem International Pvt. Ltd.
· Phytex Australia Pty Ltd
· Caleb Pharmaceuticals, Inc.
