Global Anticholinergic Drugs Market - 2022-2029

Global Anticholinergic Drugs Market - 2022-2029

Market Overview

The global anticholinergic drugs market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Anticholinergic medicines are used to block acetylcholine-induced neurotransmission in several regions of the body, including the heart, peripheral nervous system, and other organs. Acetylcholine is a neurotransmitter that regulates involuntary activities like salivation, perspiration, digestion, and various others. The medication is used to treat various chronic diseases and nervous system abnormalities, including bladder overactivity, pulmonary disease disorder, and irritable bowel syndrome.

Market Dynamics

The global anticholinergic drugs market growth is because of the increased detection rates, medications like anticholinergics in treating chronic disorders have grown. The rapidly increasing use of anti-Parkinson medications and bronchodilators to treat diseases is expected to propel the anticholinergic pharmaceutical industry. The rise in gastrointestinal, respiratory, and urinary tract disorders is likely to generate a favorable environment for market growth.

Increasing research and development and increasing funding and investment in the field of life science research will drive the market growth

The pharmaceutical industry's expansion is expected to propel the anticholinergic medicines market forward in the upcoming years. An increase in the worldwide aging population is expected to help the anticholinergic medications industry in the coming years. In addition, the increasing rate of investment in the anticholinergic medication market is predicted to boost growth prospects soon. In June 2019,Caplin Point Laboratories, a mid-cap pharmaceutical business based in India, recently reported that one of its subsidiaries received anticholinergic medication approval from the US Food and Drug Administration. The United States Food and Drug Administration (USFDA) has granted final approval to Caplin Sterile, a fully owned subsidiary of Caplin Point Laboratories, for its condensed new drug application (ANDA) Glycopyrrolate injection USP 0. mg/ml. In 2019, the pharmaceutical sector spent $83 billion on research and development. These costs were used to fund several operations, including the discovery and testing of novel medications, the development of incremental advancements such as product expansions, and clinical testing for safety and marketing considerations. After adjusting for inflation, that sum is around ten times the industry spent in the 1980s.

The quality of medications and their use has increased throughout time due to the growing number of medical research projects. This has benefited in comprehending the benefits of various medications in the treatment of various chronic conditions. Furthermore, the market expansion is expected to increase research and development.

Furthermore, the number of adults and the elderly population is growing, which means that the challenges that older people confront are also growing. This has resulted in the use of medications that aid in treating a variety of ailments. As a result, the market for anticholinergic medications is expected to expand. The proportion of the world's population aged 60 and up will nearly double from 12 percent to 22 percent between 2015 and 2050.By 2023, the number of persons aged 60 and more will outweigh youngsters under five.By 2050, 80% of the world's elderly will live in low- and middle-income countries.The population is aging at a considerably higher rate than in the past.(Source :World Health Organization)

Furthermore, The area of medicine is evolving, and new drugs are being produced to speed up the treatment process better and improve the quality of the therapy so that side effects are reduced. Rapid medical research and development and a better understanding of pharmacological characteristics and their usage in treating chronic diseases are expected to drive market growth. These advances will aid the market's future growth by creating better pharmaceuticals to treat life-threatening disorders. These factors, as mentioned above, have a significant impact on the overall health information exchange industry.

Side-effects of anticholinergic drugs are likely to hamper the market growth

Constipation, urinary retention, dry mouth, blurred vision, and, in some cases, cognitive impairment are all side effects of anticholinergic medications.Any drug's use is restricted because the government establishes guidelines to monitor how and where the medications are utilized. This is expected to influence the market for anticholinergic medications negatively. Furthermore, these medicines have negative effects that may cause them to be used less frequently. To overcome these limitations, the market must continue to develop and upgrade.

COVID-19 Impact Analysis

During the COVID-19 pandemic, the anticholinergic drugs market had shrinked significantly. The pandemic has made it tougher to bring new medications to market in the hopes of earning market share or reaching sales projections. Aside from new diagnoses and regimen switching, marketing channels aren't as strong as before the epidemic. The few open channels continue to be dominated by COVID-19 programming. COVID-19 has slowed down clinical trials across the board, notably those in the early stages of development. As traditional study sites closed, researchers were often unable to collect data remotely, and many patients became less willing to participate. Some therapeutic fields were particularly heavily damaged. While some development time can be made up, there are concerns about resource allocation and digital technology expenditures to keep trials running now and in the future.

Segment Analysis

The parkinson disease segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Parkinson's disease is a neurological condition that causes tremors, stiffness, and difficulty walking, balancing, and coordinating. Symptoms of Parkinson's disease normally appear gradually and worsen over time. People with Parkinson's disease may have difficulties walking and speaking as the disease develops. They may also have mental and behavioral changes and sleep issues, depression, memory problems, and exhaustion. Parkinson's disease (PD) affects almost one million people in the United States, which is higher than the total number of people diagnosed with multiple sclerosis, muscular dystrophy, and Lou Gehrig's disease (or Amyotrophic Lateral Sclerosis). By 2030, this number is predicted to reach 1.2 million.Every year, about 60,000 Americans are diagnosed with Parkinson's disease.Parkinson's disease affects more than ten million people globally.Parkinson's disease is more common as people get older, but only about 4% of persons are diagnosed before they are 50.Men are 1.5 times as likely as women to develop Parkinson's disease. In the United States alone, the direct and indirect costs of Parkinson's disease, including treatment, social security payments, and lost income, are projected to be approximately $52 billion each year.(Source:Parkinson’s Foundation)

Anticholinergic drugs like trihexyphenidyl HCL(Artane), Benztropine(Cogentin) among others are used to treat this disease. An increasing number of populations facing these parkinson’s disease is a major factor contributing to the significant growth of the segment in the forecast period.

Geographical Analysis

North America region holds the largest market share of global anticholinergic drugs market

The North American anticholinergic drugs market is expected to have a considerable market share because of its well-established healthcare infrastructure and the growing number of organized healthcare systems. Some of the factors propelling the market in these regions are the rising prevalence of neurological problems and increased government measures that look toward shorter periods of patent exclusivity for new medication applications. Furthermore, the industry is being driven by a huge population, rising disposable income, and increased patient awareness, to name a few aspects.

The Asia-Pacific economy is expanding rapidly. India, China, Japan, and Australia are propelling the region's economic development. The main source of concern in this region is the provision of adequate healthcare for the region's rapidly rising population.With the opening of new hospitals and pharmacies in this area. Medication research, development, production, and distribution are all handled by the pharmaceutical business. Pharma revenues worldwide were 1.27 trillion US dollars in 2020, indicating that the market has grown significantly over the last two decades.Additionally, rising healthcare spending and increased government initiatives are two aspects supporting the industry.

Competitive Landscape

The global market foe anticholinergic drugs is moderately competitive, with several major players. Allergan Plc, Astellas Pharma Inc, Boehringer Ingelheim International GmbH, GlaxoSmithKline Plc, Johnson & Johnson Services Inc, Novartis AG, Pfizer Inc, Sanofi, Teva Pharmaceutical Industries are among the market's major players. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the anticholinergic drugs market globally. For instance, in April 22 ,2019, in the United States, Teva has announced the launch of a generic version of VESIcare® (solifenacin succinate) Tablets..

Key Developments

In June 2019, Vical Incorporated and Brickell Biotech, Inc., a privately-held clinical-stage medical dermatological firm, recently announced that they had reached a formal merger agreement under which Brickell would merge with a wholly-owned subsidiary of Vical in an all-stock transaction. Sofpironium bromide, Brickell's flagship pipeline asset, is a critical Phase 3-ready topical soft anticholinergic for axillary hyperhidrosis. Brickell's research partner, Kaken Pharmaceutical, Co, LTD, has reported positive Phase 3 results from a clinical trial in Japan.

In March 2019, Dermira, Inc., a biopharmaceutical company dedicated to bringing biotech innovation to medical dermatology, has announced the launch of Life Unfolds, a unique direct-to-consumer creative campaign designed to raise awareness of QBREXZA cloth as a potential treatment option for people with primary axillary hyperhidrosis, also known as excessive underarm sweating. The US Food and Drug Administration (FDA) has approved QBREXZA, a once-daily, topical prescription anticholinergic, to treat adult and pediatric patients nine years of age and older who have this chronic medical skin condition.

Allergan Plc

Overview:

Allergan Ltd (Allergan), an AbbVie Inc subsidiary, is a specialty pharmaceutical company that develops and sells branded pharmaceuticals, biosimilars, and over-the-counter (OTC) pharmaceutical products. It provides products in the following categories: eye care, medical aesthetics, dermatology, central nervous system, gastroenterology, women's health, urology, and anti-infective therapeutics. The company's products are sold to retailers, drug wholesalers, and distributors, including national retail drug and food store chains, mail order retailers, hospitals, clinics, government agencies, and managed healthcare providers such as health maintenance organizations and other institutions. It is present in the Americas, Europe, Asia-Pacific, the Middle East, and Africa. The company's headquarters are in Dublin, Ireland.

Product Portfolio:

Bentyl: Dicyclomine(Bentyl) is used to treat irritable bowel syndrome, an intestinal problem. It aids in the relief of stomach and intestinal cramping symptoms. This medication works by slowing the gut's natural movements and relaxing the muscles in the stomach and intestines. Dicyclomine belongs to the anticholinergic/antispasmodic drug class.

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