The Neostigmine Methylsulfate Injection Market is estimated to be valued at Us$ 156.75 Mn or in 2023 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Neostigmine methylsulfate injection is used for the treatment of myasthenia gravis, which is an autoimmune neuromuscular disorder causing weakness in the skeletal muscles of the body. It belongs to a class of medications called cholinesterase inhibitors that help improve communication between nerves and muscles. Neostigmine methylsulfate injection is administered intramuscularly or intravenously to reverse the effects of nondepolarizing neuromuscular blockers during surgery or to treat myasthenia gravis.
Market Dynamics:
The growth of the Neostigmine Methylsulfate Injection market is driven by increasing prevalence of myasthenia gravis across the world. According to the projections of Myasthenia Gravis Foundation of America in 2022, myasthenia gravis affects 20 people per 100,000. The increasing geriatric population is also fueling the prevalence of myasthenia gravis which in turn boosting the demand for neostigmine methylsulfate injection. In addition, product launch and approval is creating growth opportunities in the market. For instance, in July 2020, Fresenius Kabi launched the generic neostigmine methylsulfate injection for the treatment of myasthenia gravis and post-operative reversal of neuromuscular blockade induced by non-depolarizing neuromuscular blocking agents.
SWOT Analysis
Strength: Neostigmine methylsulfate injection has been used for years to treat myasthenia gravis and is well-established in the market. It is very effective at treating symptoms and crises of myasthenia gravis. The drug has also been proven to be safe for most patients.
Weakness: There are some significant side effects associated with neostigmine methylsulfate injection including nausea, vomiting, excessive salivation and sweating. This can cause discomfort for some patients. The drug also needs to be administered carefully through injections to avoid overdose or side effects.
Opportunity: The market for myasthenia gravis treatment is growing as more cases are being diagnosed. Neostigmine methylsulfate injection benefits from having no patent restrictions and can capture market share as the disease prevalence increases. New research is also exploring its potential for treating other conditions like post-operative ileus.
Threats: Several newer drug treatments for myasthenia gravis have been introduced which poses competition to neostigmine methylsulfate injection. Biosimilars entering the market increases pricing pressure on generic manufacturers. Strict regulations surrounding handling and administration of the drug also impacts the supply chain and distribution channels.
Key Takeaways
The Global Neostigmine Methylsulfate Injection Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing prevalence of myasthenia gravis and other conditions where it is used.
Regional analysis: North America region currently dominates the neostigmine methylsulfate injection market accounting for majority market share of over 35% in 2023. This is attributed to growing geriatric population, increasing healthcare expenditure and high diagnosis rates in United States. Asia Pacific region is expected to witness fastest growth over the forecast period growing at a CAGR of 5.5% driven by rising cases in China and India along with growing medical infrastructure and awareness.
Key players operating in the Neostigmine Methylsulfate Injection market are Pfizer Inc., Fresenius Kabi AG, Mylan N.V., Sandoz Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Hospira (now part of Pfizer), Akorn Pharmaceuticals, and Baxter International Inc. These established players are focused on expanding their production facilities and distribution networks across major markets to strengthen market position.
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