by Scopolamine API is a tertiary amine alkaloid used in the treatment of motion sickness. It works by blocking signals in the brain that trigger nausea and vomiting. Scopolamine medications are available in the forms of patches, tablets, and suspensions. The transdermal scopolamine patch is most commonly used as it delivers a continuous dose of the drug through the skin. Scopolamine API offers an effective non-dizziness alternative to other motion sickness medications.
The global scopolamine API market is estimated to be valued at US$ 308.49 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The growing prevalence of motion sickness represents a major market opportunity for scopolamine API. Motion sickness affects 60-80% of the general population and causes symptoms like nausea, vomiting, and dizziness during travel. Long distance transportation modes like ships, trains and airplanes are common triggers. With increasing global travel and tourism activities, the incidence of motion sickness is on the rise. Scopolamine API offers an effective treatment option for motion sickness sufferers. Its transdermal delivery system ensures constant drug levels in the body and symptoms relief throughout the duration of travel. This wide applicability and clinical effectiveness of scopolamine therapy is expected to drive the demand for scopolamine API over the forecast period.
Porter’s Analysis
Threat of new entrants: The scopolamine API market has moderate threat of new entrants due to high capital requirements and regulatory barriers for new companies to enter the market. However, lack of patents and intellectual property rights protection in some regions pose threats from potential new market entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of many global suppliers of scopolamine API. However, high switching costs and minimum purchase order requirements limit some buyers’ bargaining power.
Bargaining power of suppliers: Suppliers of raw materials for scopolamine API production like tropane alkaloids, dipropylene glycol and others have moderate bargaining power due to limited availability from natural sources and moderate difficulty in changing suppliers. However, price differentiation based on product quality and service differentiation reduces suppliers’ power.
Threat of new substitutes: Moderate threat of substitutes exists from other anticholinergic medications but scopolamine is well established in motion sickness and other applications. The barrier for substitutes is high research and development investments required for approvals.
Competitive rivalry: The market is moderately competitive due to presence of numerous global and regional manufacturers.Companies compete based on pricing, product differentiation, portfolios and supply contracts.
SWOT Analysis
Strength: Established clinical efficacy of scopolamine API in multiple therapeutic areas like motion sickness, psychosis and postoperative nausea and vomiting. Rising demand due to increasing incidence of these conditions boosts market.
Weakness: Complex production process involving extraction from natural sources and multiple chemical steps makes costs relatively high. Regulations tightly control production due to risk of toxic impurities.
Opportunity: Emerging new applications in neurological and gastrointestinal disorders increase potential market size. Developing regions with large populations represent avenues for market expansion.
Threats: Stringent regulatory standards increase compliance costs and delays. Supply chain disruptions due to geopolitical issues or natural calamities can impact availability.Potential alternative therapies pose competition risks.
Key Takeaways
The Global Scopolamine API Market Demand is expected to witness high growth at a CAGR of around 10% during the forecast period of 2023 to 2030. The market size was valued at approximately US$ 308.49 million in 2023 and is anticipated to reach around US$ 589.62 million by 2030.
The Asia Pacific region dominates the global scopolamine API market and accounted for over 35% of the total market share in 2023. Rapidly growing pharmaceutical markets and increasing healthcare spending boost demand in the Asia Pacific region. Additionally, the presence of major API manufacturing countries like China, India and South Korea drive market growth.
Key players operating in the scopolamine API market are Daikin Industries Limited, Viessmann Group, NIBE Group, Danfoss Group Global, Stiebel Eltron Group, Mitsubishi Electric Corporation, United Technologies Corporation, Panasonic Corporation, Glen Dimplex Group, The Bosch Group. The key players are mainly focused on capacity expansions, new product launches, and mergers & acquis
Note:
Source: Coherent Market Insights, Public sources, Desk research
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