Scopolamine API Market is Expected to be Powered by Rapid Growth in Pharmaceutical Industry

 
Scopolamine API Market


Scopolamine API is the active pharmaceutical ingredient used in manufacturing a variety of pharmaceutical drugs. Scopolamine is an alkaloid compound extracted from plants in the nightshade family, primarily Datura and is primarily used to treat motion sickness and nausea. Some key drugs manufactured using scopolamine API include transdermal patches for motion sickness and anticholinergic drugs. Scopolamine finds applications in ophthalmology for treatment of conjunctivitis and mydriasis.


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 Dynamics:
Rapid growth in the global pharmaceutical industry has been a key driver for the scopolamine API market. The growing prevalence of disorders requiring treatment with anticholinergic drugs and emergence of new application areas for scopolamine is also fueling demand. Furthermore, growing emphasis on motion sickness treatment, especially among travelers is supporting the need for scopolamine-based drugs.

However, stringent regulations pertaining to extraction and manufacturing of scopolamine pose a challenge for market players. Sustaining regulatory approvals is a major undertaking for companies.


Segment Analysis
The global scopolamine API market is dominated by the pharmaceutical segment. The pharmaceutical segment currently holds around 70% market share owing to the high usage of scopolamine API in manufacturing medicines for motion sickness, postoperative nausea, and vomiting. Scopolamine API finds major application in manufacturing anti-cholinergic and anti-motion sickness drugs. Within the pharmaceutical segment, the anti-motion sickness drugs sub-segment is the dominating one due to high prevalence of motion sickness among people.

PEST Analysis
Political: Regulations regarding the manufacturing and usage of controlled substances can impact the scopolamine API market. Any changes in these regulations related to production or international trade of scopolamine API will affect the market.
Economic: Fluctuations in currency exchange rates and economic performance of key markets can influence the profitability of players operating in the scopolamine API market. The overall economic growth also determines the healthcare spending of countries which direct impacts the demand for scopolamine API.
Social: Increasing preference for over-the-counter medications for minor health issues like motion sickness is driving the demand for scopolamine API. Growing health awareness and self-medication practices are supporting the social factors of the market.
Technological: Emergence of improved and novel drug delivery mechanisms is facilitating the development of advanced anti-motion sickness drugs using scopolamine API. Continuous R&D for enhancing efficacy and safety is also a key technological factor.

Key Takeaways

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.


The global scopolamine API market is expected to witness high growth over the forecast period. Asia Pacific region currently dominates the market due to presence of major API manufacturing countries like India and China. India alone accounts for around 35% of the global market share owing to well-established pharmaceutical production base. This is owing to factors such as increasing pharmaceutical production, rising prevalence of motion sickness, and growing healthcare spending in the region.

Key players related content comprises
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. These players majorly focus on new product launches, expansions, and collaborations to strengthen their market position.

Explorer more information on this topic, Please visit @ https://www.pressreleasebulletin.com/scopolamine-api-market-growth-market-size-share-analysis/

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