Scopolamine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Scopolamine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The scopolamine market is expected to register a CAGR of nearly 6% over the forecast period.

The coronavirus disease 2019 (COVID-19) pandemic had an unprecedented effect that led to worldwide deaths while straining facets of society, including health care delivery. The virus also impacted the healthcare and pharmaceutical industry and so had its impact on the global scopolamine market, owing to the decrease in the number of surgical interventions resulting from chronic diseases due to the ongoing COVID-19 pandemic. Scopolamine is a medication used to manage and treat postoperative nausea and vomiting (PONV) and motion sickness. Also, strict lockdown and government regulations led to the relocation of medical healthcare providers and material resources to deal with this abrupt emergency. Thus, elective operations/therapies and non-emergency medical procedures had come to a halt in most medical centers. For instance, in April 2021 an article titled, “Frequency of Urgent or Emergent Vitreoretinal Surgical Procedures in the United States During the COVID-19 Pandemic” reported that the frequency of surgical procedures throughout the country experienced a substantial decrease that may persist after the COVID-19 pandemic’s initial exponential growth phase. Thus, the surgical procedures were reduced, which decreased the need for scopolamine-related dosage forms as it is used to prevent nausea and vomiting after anesthesia, narcotic pain medicines, and surgery. Thus, initially, the market was severely impacted but then after a few months, the market gained its pace for growth.

The factors which may drive the market are the growing number of surgical interventions due to chronic diseases, rising healthcare expenditure, and adaptation to scopolamine. The world is reportedly marked by an increasing global incidence of chronic diseases like cancer, which is expected to increase the number of surgical procedures, thereby increasing the demand for scopolamine. For instance, 2020 National Cancer Institute reported that in 2020, an estimated 1,806,590 new cases of cancer were diagnosed in the United States. Thus, high cancer cases are driving the need for cancer surgeries, thereby driving the market.

Also, in modern times there is an increase in the use of scopolamine in various types of research and also its increasing use for the treatment of various diseases. In recent times many studies have reported the use of scopolamine in the treatment of the major depressive disorder. For instance, in April 2021, an article titled “Scopolamine as a Potential Treatment Option in Major Depressive Disorder - A Literature Review" reported that most available treatment trials of scopolamine have confirmed rapid onset of antidepressant effects in unipolar and bipolar depression. Scopolamine may be used as an alternative treatment option to ketamine in patients with treatment-resistant depression. The article also reported that seven treatment trials have demonstrated rapid therapeutic effects of scopolamine in depression both as monotherapy and augmentation. Similarly, in August 2022, Southwest Research Institute developed an efficient, fully synthetic method to produce scopolamine, a plant-derived compound used to prevent nausea and vomiting from motion sickness and anesthesia. The accomplishment marks the first time SwRI has fully synthesized a drug compound that is naturally derived from plants. Thus, such research and clinical studies are driving the scopolamine market.

Thus, owing to the above-mentioned factors market is expected to show significant growth over the forecast period. However, side effects and misuse of scopolamine and stringent regulatory policies may slow down its growth during the studied period.

Key Market TrendsTransdermal Patches is Reported to Witness Significant Growth Over the Forecast Period

Transdermal patches are widely used nowadays in the treatment of motion sickness. The transdermal patches are preferred due to ease of use, cost-effectiveness, and availability. The patch is applied to the hairless skin behind the ear and is used to treat the motion sickness caused by the anesthesia during the surgeries. For instance, in September 2020, an article titled, ‘Trauma of major surgery: A global problem that is not going away” reported that globally, approximately 310 million major surgeries are performed each year; around 40 to 50 million in the United States of America and 20 million in Europe. Owing to the growing number of surgical interventions across the globe coupled with the launch of new products, the market for transdermal scopolamine patches is expected to grow at a significant rate.

One of the major benefits offered by transdermal scopolamine is it can be removed when the drug is not required in the body, this factor is boosting the demand for transdermal scopolamine, thereby, pushing the horizon of the transdermal scopolamine market. On the other hand, the removal of the transdermal scopolamine market leaves withdrawal symptoms that are found to be adverse. This is likely to produce hindrance in the growth of the transdermal scopolamine market.

Also, the growing number of domestic and international travelers around the globe and the usage of scopolamine to treat motion sickness during traveling are expected to boost market growth over the forecast period.

North America is Reported to Witness Significant Growth Over the Forecast Period

The North American region is anticipated to have a significant market share owing to its well-established healthcare infrastructure and the presence of key market players. Also, a growing number of surgeries in the region, and an increasing number of travelers coupled with product launches are anticipated to boost the market growth over the forecast period. For instance, in December 2021, Ingenus Pharmaceuticals, LLC (Riconpharma LLC.) got approval from the United States Food and Drug Administration (USFDA) to manufacture the generic version of Transderm-Scop (skin patch). Thus, such developments tend to boost the studied market in the region.

Also, the growing incidence of cancer cases is causing the increasing demand for cancer-related surgeries, which is causing an increased demand for scopolamine. For instance, in 2021 International Agency for Research on Cancer reported that the North American region has reported 2.56 million cancer cases in 2020 and this number is supposed to increase by 3.52 million by the end of 2040. Thus, rising cancer cases in the region are leading to an increasing number of cancer-related surgeries, which significantly increases the demand for scopolamine, thereby driving the market.

The other driving factor is the growth in the number of travelers in the region. The awareness of the benefits of the transdermal scopolamine market among travelers is bolstering the expansion of the global transdermal scopolamine market in the region. In 2021, the United States Travel Association reported that 36% of Americans plan to travel every year. Thus, owing to the increase in several travelers in North America, the region contributes majorly to the global transdermal scopolamine market. Also, the region has a well-established healthcare infrastructure which adds to the expansion of the transdermal scopolamine market.

Thus, due to aforesaid mentioned reasons, the market is expected to witness significant growth in the North American region over the forecast period.

Competitive Landscape

The scopolamine market is fragmented in nature due to the presence of fewer companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known as Pfizer Inc., Baxter International Inc., Myungmoon Pharm Co Ltd., Phytex Australia, Caleb Pharmaceuticals, Inc., GlaxoSmithKline plc., Centroflora-Cms, Alkaloids of Australia, Perrigo Company plc, and Novartis International AG.

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