by Scopolamine is an anticholinergic alkaloid drug extracted from plants in the Solanaceae family, primarily Scopolia and Datura. It is commonly used to treat or prevent nausea, vomiting, and dizziness caused by motion sickness. The drug works by blocking muscarinic acetylcholine receptors in the central nervous system. The global scopolamine market has witnessed significant growth in recent years owing to rising incidence of nausea, vomiting and other gastrointestinal disorders. Increased marine and air travel has also fueled the demand for effective anti-motion sickness medications.
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 drivers of the scopolamine market growth is the increased prevalence of motion sickness worldwide. According to studies, around 50% of the global population experiences some form of motion sickness due to travel. Sea travel, car travel, and air travel are common triggers. Prolonged use of scopolamine patches and gums has proved highly effective in preventing nausea, vomiting and dizziness caused by motion. Their long-lasting effects and convenience of use over oral medications have increased their popularity. Growing awareness about effective anti-emetic drugs and easy availability of over-the-counter scopolamine products are expected to further support the market growth over the forecast period.
SWOT Analysis
Strength: The scopolamine market has growing applications in motion sickness and other conditions. The drug is effective in controlling nausea and vomiting which drives its demand.
Weakness: Scopolamine has some serious side effects like blurred vision, drowsiness, dry mouth, etc which limits its use. It also has risk of interactions with other drugs.
Opportunity: Increasing number of patients suffering from neurological diseases and cancer are expected to increase the application of scopolamine drugs. The usage of transdermal scopolamine patches is also gaining popularity.
Threats: Presence of alternative anti-emetic drugs pose competition to scopolamine drugs. Stringent regulations associated with new drug approvals can also hamper the market growth.
Key Takeaways
The Global Scopolamine Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is projected to be US$ 3676.85 Bn registering a CAGR of 4.8% during the forecast period.
Regional analysis North America dominates the scopolamine market and is expected to continue its dominance over the forecast period. The increasing prevalence of motion sickness, gastrointestinal disorders drives the market in the region. Asia Pacific is expected to be the fastest growing market owing to rising healthcare infrastructure and growing geriatric population.
Key players operating in the scopolamine market are 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. The key player are focusing on new product launches and expansions to strengthen their market positioning.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
