The Global Scopolamine API Market Growth Accelerated By Increasing Demand From Pharmaceutical Industry
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| Scopolamine API Market |
Scopolamine is an alkaloid used as a pharmaceutical drug, primarily as an antiparkinson drug and as an anticholinergic. It is commonly used to treat motion sickness. The global scopolamine API market is growing due to increased use of scopolamine in various pharmaceutical formulations used to treat motion sickness, psychiatric conditions and other medical conditions.
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 key trends:
The increasing demand from the pharmaceutical industry is one of the major
trends driving the growth of the scopolamine API market. Scopolamine is present
in many pharmaceutical formulations that help in treating motion sickness,
psychiatric conditions such as anxiety disorders and mood disorders. It is also
used for spasmatic conditions like morning sickness in women during their first
trimester of pregnancy. The increasing prevalence of motion sickness worldwide
and growing awareness about effective treatment options have led to increased
sales of pharmaceutical products containing scopolamine over the years. This
rising demand from end use industries like pharmaceuticals is expected to
support the growth of the global scopolamine API market during the forecast
period.
Segment Analysis
The Global scopolamine API market is dominated by the oral segment. Oral
segment accounts for more than 60% of the total scopolamine API market share
owing to its easy availability, affordable pricing and convenient method of
administration. It is widely used for the treatment of gastrointestinal spasms,
motion sickness and Parkinson's disease. The transdermal segment is expected to
witness fastest growth during the forecast period due to increasing preference
of patients for non-invasive methods of drug delivery.
Key Takeaways
The global Scopolamine
API Market Growth is expected to
witness high growth over the forecast period of 2023-2030. The market is
expected to reach a value of US$ 543.22 Mn by 2030, expanding at a robust CAGR
of 10% during 2023-2030.
Regional analysis
North America dominates the global scopolamine API market and accounts for
around 35% of the total market share. High prevalence of conditions indicating
scopolamine usage, strong presence of key players and availability of advanced
healthcare facilities are some of the factors driving the dominance of North
America region. Asia Pacific is expected to witness fastest growth during the
forecast period owing to improving access to healthcare facilities, increasing
healthcare expenditure and rising disposable income in emerging economies like
India and China.
Key players
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, The Bosch Group. Daikin Industries
Limited has been the leading player with around 15% market share owing to its
wide geographic presence and diverse product portfolio.
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