Scopolamine Api Market Poised To Witness High Growth Owing To...

Scopolamine Api Market Poised To Witness High Growth Owing To Increasing Applications In Treatment Of Motion Sickness

Postado 2023-12-29 11:57:16

Scopolamine is an alkaloid drug derived from plants belonging to the family Solanaceae, which provides relief from motion sickness. It works by blocking signals in the brain that cause nausea and vomiting. Scopolamine is used to treat and prevent motion sickness, postoperative nausea and vomiting, nausea associated with cancer chemotherapy and gastroenteritis.

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 Dynamics:
Growth in the global scopolamine API market is majorly driven by increasing applications of scopolamine API in treatment of motion sickness as well as nausea and vomiting associated with cancer chemotherapy and postoperative nausea and vomiting. Scopolamine is considered as the gold standard drug for prevention of motion sickness owing to its strong antiemetic effects and longer duration of action. According to various published studies, scopolamine patches are more than 80% effective in preventing motion sickness. Scopolamine patches and gums have become popular OTC medication for motion sickness. Thus, increasing incidence of motion sickness during travel via road, rail or sea is expected to drive the demand for scopolamine API over the forecast period.

SWOT Analysis
Strength: The Scopolamine API market is expected to grow at a CAGR of 10% during the forecast period. Scopolamine is used to treat motion sickness and post-operative nausea. The increasing demand for pharmaceutical products is driving market growth. The rising prevalence of cancer and neurological disorders is fuelling demand for scopolamine-based drugs.
Weakness: Stringent regulations associated with API manufacturing may hamper market growth. High costs associated with R&D activities can negatively impact small players.
Opportunity: Growing geriatric population suffering from neurological disorders creates lucrative opportunities. Increasing healthcare expenditure in emerging nations provides potential opportunities.
Threats: Availability of alternative therapies and substitutes poses a threat. Rising environmental concerns associated with API production threats market growth.

Key Takeaways
The global Scopolamine API Market Growth is expected to witness high growth. 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.

North America is currently the largest market for scopolamine API due to rising prevalence of motion sickness and cancer. The dominant market share can be attributed to growing healthcare expenditure, availability of advanced healthcare facilities, and presence of prominent market players in the region. Asia Pacific is expected to be the fastest-growing regional market owing to rising geriatric population, growing healthcare spending, and increasing prevalence of cancer and neurological disorders. Moreover, increasing investments by global market players are driving market growth in Asia Pacific region.

Key players operating in the scopolamine API market include 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 market is dominated by global players accounting for more than 50% of the total market share. Strategic collaborations, mergers, acquisitions, new product launches, and regional expansion are common strategies adopted by these companies to gain higher market shares and strengthen their product portfolio.

For more insights, read- https://dailynewsmotion.weebly.com/report-blog/scopolamine-api-market-poised-to-witness-high-growth-owing-to-increasing-applications-in-treatment-of-motion-sickness