July 13, 2024
Scopolamine Market

Scopolamine Market Driven By The Increasing Incidences Of Motion Sickness Is Estimated To Be Valued

The scopolamine market comprises anticholinergic drugs that are used to treat and prevent motion sickness. Scopolamine products, such as scopolamine patches and tablets, work by blocking signals from the parts of the nervous system that may cause nausea and vomiting. They are often prescribed for seasickness, airsickness, and sickness due to other types of motion. The increasing prevalence of motion sickness across various age groups has been a major factor driving the demand for antiemetic drugs like scopolamine. According to studies, nearly 30-50% of people experience motion sickness during sea travel and other modes of transportation involving motion. Lengthy travel hours in vehicles, ships, or flights heighten the risk of feeling nauseated and dizzy. Scopolamine effectively reduces symptoms caused by vertigo, balance disorders, and inner ear problems. Furthermore, it counteracts stomach upset and vomiting linked with widespread conditions such as postoperative nausea and vomiting and chemotherapy-induced nausea and vomiting.

The global scopolamine market is estimated to be valued at US$ 3676.85 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the scopolamine market is the emergence of advanced drug delivery systems. Continuous research and development are being conducted to develop novel formulations of scopolamine that enable enhanced absorption and minimize side effects. Transdermal patches are gaining tremendous popularity as they deliver precise doses of the drug conveniently over an extended period. Orally dissolving formulations like tablets are also being enhanced to dissolve quickly inside the mouth without water. Innovation in such delivery technologies ensures improved compliance as well as a consistent therapeutic effect. Furthermore, combination drug products that pair scopolamine with other antiemetics are increasing the efficacy of treatment. For instance, scopolamine patches are combined with ondansetron to block nausea and vomiting through multiple pathways simultaneously. Such synergistic actions provide enhanced management of nausea and vomiting during chemotherapy or surgery. Through advanced formulations, the scopolamine market is expected to witness lucrative growth over the forecast timeframe.

Porter’s Analysis

Threat of new entrants: The scopolamine market requires high capital investment for R&D and manufacturing facilities which limits threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but brand loyalty keeps their power in check.
Bargaining power of suppliers: A few vendors supply bulk quantity of raw material which provides them higher bargaining power over buyers.
Threat of new substitutes: Substitutes like hyoscine and anti-emetic drugs provide competition but scopolamine has well-established demand limiting impact of substitutes.
Competitive rivalry: The market has presence of many international brands leading to high competitive rivalry.

Key Takeaways

The global Scopolamine Market Growth is expected to witness high growth. The global scopolamine market is estimated to be valued at US$ 3676.85 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.

North America and Asia Pacific due to increasing incidence of motion sickness and focus on R&D.

Key players operating in the 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it