Scopolamine Market

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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Report ID: 3312 | Published On: Jan 31, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


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

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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. 


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

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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


Global-Scopolamine-Market-Overview
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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


Global-Healthcare-Expenditure-per-Capita
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Top Featured 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

Key Questions Answered in the Report

1) What are the major factors driving the growth of the scopolamine market?

Ans: Growing number of surgical interventions as a result of chronic diseases and rising healthcare expenditure are the key factors driving market growth.

2) What would be the CAGR of scopolamine market over the forecast period?

Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.

3) What are the challenges affecting the scopolamine market growth?

Ans: Side effects and misuse of scopolamine is estimated to hamper market growth.

4) Which region will provide more business opportunities for growth of scopolamine market in future?

Ans: The market in Asia Pacific will provide ample growth opportunities owing to the increased expenditure on healthcare, presence of medium and small-sized market players and growing medical tourism for the surgeries in the region.

5) Who are the major players dominating the scopolamine market?

Ans: The major players dominating the scopolamine market are Baxter International Inc., Myungmoon Pharm Co Ltd, Alchem International Pvt. Ltd., Caleb Pharmaceuticals, Inc., GlaxoSmithKline plc., Phytex Australia among others.

6) How are the company profiles selected?

Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the Scopolamine market?

Ans: The market is segmented by dosage form, distribution channel, and by region.

8) Which segment under the distribution channel segment captures the largest market size in the Scopolamine market?

Ans: With respect to distribution channel, the retail pharmacies segment is anticipated to hold the largest market share owing to the fact that retail pharmacies have a larger customer base and a wide presence.

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