In this research report, the worldwide market for transdermal scopolamine is primarily analyzed on the basis of its geographical presence. As per the study, Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific are the primary geographical segments of this market. North America, among these, has emerged as key contributor to this market, thanks to the presence of an advanced healthcare industry. Driven by the high healthcare expenditure and increased usage of transdermal scopolamine in surgeries and post-operative recovery, this regional market is likely to remain dominant throughout the forecast period, rising at a 6.40% CAGR.
Although the North America market will retain its position, the market stagnancy caused by the availably of limited generics is expected to reflect negatively on its growth rate in the near future. Europe, on the other hand, is anticipated to witness a significant rise in its transdermal scopolamine market in the years to come, thanks to the presence of a state-of-art healthcare industry and the rising pool of travelers. Western Europe is projected to surface as the key domestic market in the European market for transdermal scopolamine over the next few years.
Among other regional markets, Asia Pacific is projected to offer lucrative growth opportunities to market players in the near future on the grounds of the rising expenditure on healthcare, infrastructural advancements in the healthcare industry, and the growing focus on community healthcare in developing markets, such as China and India, reports the research study.
The increasing awareness among consumers pertaining to the high efficiency of transdermal scopolamine in treating motion sickness is influencing the global market for transdermal scopolamine substantially, says a TMR analyst. With the increasing number of travelers across the world, the cases of motion sickness are on a rise, reflecting positively on the demand for transdermal scopolamine patches, globally.
Since these patches are also utilized while surgeries to prevent hyper salivation and to speed-up the recovery from post-operative and anesthesia induced vomiting and nausea, the upswing in the number of surgeries performed worldwide is likely to boost the global transdermal scopolamine market considerably over the forecast period. However, the increasing reports of side-effects caused by these patches, such as retarted motion, drowsiness, and diluted pupils, may restrict their usage to some extent in the coming years. Beside this, the enforcement of strict norms and regulations in manufacturing and marketing of transdermal scopolamine patches and products may also hinder the growth of this market over the next few years, states the report.
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The report also profiles major players in the market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Novartis AG, GlaxoSmithKline plc, Baxter International Inc., Perrigo Company plc, Caleb Pharmaceuticals, Inc., and Myungmoon Pharma Co. Ltd.
The global transdermal scopolamine market has been segmented as follows:
– North America
– Asia Pacific
– Latin America
– Middle East and Africa
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