Anticholinergic Drugs Market is Estimated to Propelled by Increasing Usage for Motion Sickness Treatment
Anticholinergic drugs, also known as antimuscarinics, are medicines that block or reduce the effects of acetylcholine, a chemical messenger that transmits signals between nerves and muscles. Anticholinergic drugs are widely used for treating chronic obstructive pulmonary disease (COPD), asthma, peptic ulcers, Parkinson's disease, and motion sickness. Motion sickness is one of the main indications treated using anticholinergic drugs. Rising recreational activities like cruise trips and increased long-distance travel by road, rail, and air have contributed to the growing prevalence of motion sickness worldwide.
The Global Scopolamine API Market Demand 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:
One of the major trends driving the growth of the anticholinergic drugs market is the increasing adoption of scopolamine API, the major active pharmaceutical ingredient used in anticholinergic drugs for motion sickness treatment. Scopolamine is considered the gold standard drug for preventing motion sickness. It works by blocking signals in the brain that cause nausea, dizziness, and vomiting. Rising awareness about the effectiveness of scopolamine patches and tablets for preventing motion sickness symptoms during travel has boosted the demand for scopolamine API. Growing long-distance air, sea, and land travel across the globe is expected to further augment the consumption of scopolamine API-based anticholinergic products, thereby fueling revenue growth of the overall anticholinergic drugs market during the forecast period.
SWOT Analysis
Strength: Scopolamine API market is growing steadily due to increasing applications of scopolamine in treatment of motion sickness.
Weakness: Presence of alternatives like ginger and dimenhydrinate limits the growth potential of scopolamine API market.
Opportunity: Rising geriatric population prone to motion sickness and emergence of new application areas like treatment of Parkinson's disease offers market opportunities.
Threats: Stringent regulations pertaining to safety and side effects of scopolamine pose threats to scopolamine API market growth.
Key Takeaways
The Global Scopolamine API Market Demand is expected to witness high growth over the forecast period of 2023-2030. The global Anticholinergic Drugs 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 dominates the scopolamine API market currently owing to growing incidences of motion sickness and rise in healthcare expenditures. Asia Pacific is expected to be the fastest growing market due to rising clinical trials focusing on new therapeutic applications of scopolamine.
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.
The key players are focusing on expanding their product portfolio and strengthening geographical presence through partnerships and collaborations to gain competitive advantage in the scopolamine API market.
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