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HEALTHCARE & PHARMACEUTICAL

Scopolamine Market Segmentation by Dosage Form (Tablet, Syrup, Injection, Patch, and Others); by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Scopolamine Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April 2021: Pfizer Inc. announced that the acquisition of Amplyx Pharmaceuticals, Inc., which is a private company involved in the development of therapies for life-threatening diseases affecting people with compromised immune systems.
  • January 2020: Novartis acquired The Medicines Company to extend its portfolio of therapies by adding a first-in-class, investigational cholesterol-lowering therapy named inclisiran.

Global Scopolamine Market Highlights 2022-2030

The global scopolamine market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The major factors expected to augment the market growth include a rise in the number of people suffering from motion sickness and mental disorders such as anxiety. According to the Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S. It affects 40 million adults in the country aged 18 years and older, or 18.1% of the population every year. Furthermore, novel drug delivery systems such as transdermal patches and growing adoption of these dosage forms are expected to grow, which in turn is also anticipated to drive market growth over the forecast period. Additionally, the growing number of travelers globally and an increasing number of surgeries as a result of chronic conditions such as cardiovascular diseases, cancer is expected to boost the market growth in the upcoming years.

Global-Scopolamine-Market-Overview

The global scopolamine market is segmented based on dosage form into oral, injection, and patches. Nowadays, scopolamine patches are widely adopted to treat nausea and vomiting due to motion sickness or post-surgery resulting from anesthesia. These patches are being highly preferred owing to their cost-effectiveness, rising availability, and ease of use. Ascribing to these factors, the segment for patches is projected to garner the largest share over the forecast period. Additionally, on the basis of application, the retail pharmacies segment in the market is projected to grow with a significant CAGR over the forecast period, which can be attributed to the fact that retail pharmacies have a more extensive customer base and a wider presence. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure-per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.74 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.31 in 2008 to USD 1,110.84 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10,623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5,355.79, which grew from USD 3,515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centres for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 4.5% in 2019. Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Scopolamine Market Regional Synopsis

The market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in Asia Pacific region is anticipated to grow at significant rate ascribing to the increased healthcare expenditure, presence of medium and small-sized market players, and increasing medical tourism for the purpose of surgeries in the region. According to the World Bank, for China, the share of health expenditure as a percentage of GDP has risen to 5.4% in 2018, up from 4.2% in 2010. Furthermore, the North American region is anticipated to occupy a notable market share during the forecast peri0od owing to its well-established healthcare and pharmaceutical infrastructure, and the strong presence of crucial market companies. Additionally, a growing number of surgeries performed in the region, increasing number of travelers, along with rise in product launches are also anticipated to lead to market growth in the near future. For instance, domestic travel in the U.S increased by 1.9% in 2018, which is a total of 2.3-billion-person trips, as per the reports of U.S. Travel Association.

Global-Scopolamine-Market

The global scopolamine market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global scopolamine market includes the following segments:

By Dosage Form

  • Tablet
  • Syrup
  • Injection
  • Patch
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Others

Growth Drivers

  • Growing Number of Surgical Interventions Resulting from Chronic Diseases
  • Rising Healthcare Expenditure and Growing Adoption of Scopolamine

Challenges

  • Side Effects and Misuse of Scopolamine

Key Players Dominating the Market

  • Pfizer Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Baxter International Inc.
  • Myungmoon Pharm Co. Ltd
  • Alchem International Pvt. Ltd.
  • Caleb Pharmaceuticals, Inc.
  • GlaxoSmithKline plc
  • Phytex Australia
  • Fine Chemicals Corporation
  • Perrigo Company plc
  • Novartis International AG

 

 

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