Scopolamine Market: Current Analysis and Forecast (2022-2028)

Scopolamine Market: Current Analysis and Forecast (2022-2028)

Global Scopolamine Market was valued at more than USD 400 million in 2020 and is expected to grow at a significant rate of around 5% during the forecast period. The global scopolamine market is anticipated to witness an uptick owing to the rising number of people having motion sickness, and growing awareness among the population globally. About 1 in 3 people are considered highly susceptible to motion sickness. Furthermore, American Institute of Stress, 80% of U.S. workers said that they experience stress on the job. Also, Over three-quarters of adult report symptoms of stress, including headache, tiredness, or sleeping problems, as per the American Psychological Association, 2019. This rising number of people having psychological stress is also one of the prominent factors due to which people feel motion sickness which in turn is also increasing the demand for scopolamine drugs among the population. In addition to this, the growing number of travelers across the globe and an increasing number of surgeries due to chronic diseases are also some of the factors contributing to the growth of the market.

Pfizer Inc., Baxter International Inc., Myungmoon Pharm Co Ltd., Novartis AG, Perrigo Company PLC, Fine Chemicals Corporation, GSK plc, Alchem International Pvt. Ltd., Phytex Australia Pty Ltd., Caleb Pharmaceuticals, Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with scopolamine.
 
Insights Presented in the Report
"Amongst dosage form, transdermal patches category to witness higher CAGR during the forecast period”

Based on dosage form, the scopolamine market is segmented into injectables, tablets, transdermal patches, and others. The transdermal patches scopolamine segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as they are widely for the treatment of motion sickness nowadays. Furthermore, growth in the number of domestic and international travelers and in areas of product launches in the market is also positively influencing the growth of the market.
"Amongst distribution channel, the hospital pharmacies to hold a significant share in the market in 2020”

On the basis of distribution channels, the market is fragmented into hospital pharmacies, retail pharmacies, and others. Among these, the hospital pharmacies to hold a significant share in the market in 2020. This is mainly due to the increasing preference of the patients to avail treatment in hospitals and the easy availability of the medication in hospital pharmacies. However, the online pharmacy segment is expected to witness significant growth owing to the growing penetration of e-pharmacy platforms across the world coupled with increasing awareness regarding services offered by e-pharmacy.
"North America to hold a significant share in the market”

For a better understanding of the market adoption of the All-Terrain Vehicle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure, a rising number of surgeries, and an increasing number of travelers in the region. For instance, U.S. domestic travel increased 1.7% in 2019 to a total of 2.3 billion person-trips. Also, Leisure travel accounted for 80% of all U.S. domestic travel in 2019. Furthermore, the presence of key industry players in the region and an increasing number of product launches are also some of the factors contributing to the market growth.

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