by Scopolamine API is used in the manufacturing of anticholinergic medications to treat various types of motion sickness and postoperative nausea. It works by blocking signals to the brain that trigger nausea and vomiting. With growing demand for over-the-counter motion sickness medications, the use of scopolamine API is increasing across the globe.
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 key trends:
The increasing uptake of scopolamine API in motion sickness medications is one of the major factors expected to drive the scopolamine API market growth over the forecast period. With growing public awareness about motion sickness and availability of over-the-counter remedies, the demand for medication containing scopolamine API is increasing. Motion sickness is a common problem faced worldwide during traveling by car, air, sea, etc. Scopolamine medication proves to be effective in reducing symptoms of motion sickness experienced during transportation. This growing demand for motion sickness medication will support the increasing demand for scopolamine API in the coming years.
Segment Analysis
The Global Scopolamine API Market Demand is dominated by the solid form segment. The solid form of scopolamine API is preferred widely over the liquid form as it offers benefits like ease of use, stability during transportation and storage, and precise dosing. The solid form accounted for nearly 70% share of the overall scopolamine API market in 2023 owing to its higher demand from pharmaceutical manufacturers for formulations containing scopolamine.
Key Takeaways
The global scopolamine API market is expected to witness high growth during the forecast period of 2023 to 2030. The market is estimated to grow at a CAGR of around 10% during this period. Growing incidence of motion sickness worldwide and increasing preference for scopolamine-containing antiemetic formulations are fueling the demand for scopolamine API.
Regional analysis: Asia Pacific dominated the scopolamine API market and accounted for more than 35% share in 2023. This was majorly due to the presence of several API manufacturers in countries like India and China. The region is expected to remain the fastest growing market during the forecast period supported by rising pharmaceutical production and increasing uptake of scopolamine-based formulations in emerging economies.
North America and Europe collectively held over 40% share in 2023. However, these mature markets are expected to witness moderate growth rates compared to developing regions. Higher acceptance of motion sickness treatments and expanding aging population suffering from gastrointestinal disorders are supporting the scopolamine API demand in these regions.
Key players:
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, and The Bosch Group. Daikin Industries and Viessmann Group captured significant market shares in 2023 owing to their presence across various countries and strong production capacities.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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