SEATTLE, July 18, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global scopolamine market was valued US$ 370.4 Million in 2017, and is projected to exhibit a CAGR of 4.8% over the forecast period (2018 – 2026).
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Key Trends and Analysis of the Scopolamine Market:
The first transdermal scopolamine patch name- Transderm Scop, manufactured by ALZA Corporation and distributed by Sandoz Inc. (part of Novartis AG) went off patent in 1998, and since then, there has been only one FDA-approved generic transdermal scopolamine patch in the U.S. Thus provides new opportunities for several entrants to come up with their own products at a regional as well as global level.
Furthermore, slow development in terms of design or material of the patch is propelling scope for new as well as existing players to conduct research or experiment related to designs and materials of the patches in order to cater to the rising demand for reduced half-time of scopolamine, shorter action time, speedier delivery, and treatment for issues such as skin irritation.
Manufactures in scopolamine market are focused on developing new generics through partnerships to strengthen the product portfolio. For instance, in 2017, Perrigo Company plc. and its co-development partner Aveva Drug Delivery Systems, Inc., launched scopolamine 1.5 mg transdermal system patch, a generic equivalent to GlaxoSmithKline’s Transderm Scop (scopolamine 1.5 mg)
This transdermal system patch is indicated for prevention of nausea and vomiting in adults associated with motion sickness and recovery from anesthesia and/or opiate analgesia and surgery.
The annual U.S. market sales for Transderm Scop were approximately US$ 158 million in the 12 months ending in May 2017.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/scopolamine-market-1965
Key Market Takeaways:
- The global scopolamine market is expected to expand at a CAGR of 4.8% during the forecast period (2018 – 2026), owing to increasing cases of sickness motion and use of this drugs for neurological disorders research purposes
- Patches hold major market share among dosage forms due to utilization of these patches during surgeries to prevent hyper salivation and to speed-up the recovery from post-operative and anesthesia induced vomiting and nausea
- Some of the major players operating in the global scopolamine market include Baxter International Inc., GlaxoSmithKline plc. Novartis AG, Perrigo Company plc., Caleb Pharmaceuticals, Inc., Myungmoon Pharma Co. LTD., Alchem International, Phytex Australia, Centroflora-Cms, Alkaloids of Australia, and Fine Chemicals Corporation.
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