Scopolamine Market Trends
Growth Drivers
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Increasing Cancer Cases across the World as well as Chemotherapy Sessions – The cancer treatment involves medications, surgery, and chemotherapy of the patients. The surgery and chemotherapy leave the side effects of headache, nausea, and vomiting. The scopolamine administration reduces these side effects which is estimated to drive market growth. Across the world, in 2020 the number of cancer cases diagnosed was more than 1810 million. Over 9 million people died of cancer disease in the year 2020.
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Growing Number of People Suffering from Physiological Disorders across the Globe – According to the reports, worldwide in 2019 more than 260 million people lived with depression, and 40 million people suffered bipolar disorder. Besides, 1 in 8 people which is over 950 million people was estimated to suffer from mental disorders across the world.
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Increasing Gastrointestinal Disorders and Digestive Problems among People – As per the estimations, digestive disorders in America caused more than 375,100 deaths with a death rate of 37 per every 100,000 people in the year 2019.
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Rising Surgical Procedures across the World that Require the Administration of Anaesthesia – The number of surgical procedures performed every year in India was estimated to be more than 3600 surgeries in rural India and over 3760 in urban India for every 100,000 people.
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More People Travelling Across the World for Various Purposes – International tourism as of 2022 was estimated to remain unaffected despite COVID-19 with a total number of passengers of over 90 million.
Challenges
- Side Effects and Misuse of Scopolamine – The side effects of scopolamine include agitation, dilated, or enlarged pupils, the sensitivity of eyes towards light, confusion, and blurred vision. Also, it was estimated to be a misused drug in people with depression for relief and pain. All these are the reasons for the hampering of market growth in the forecast period.
- Tough Guidelines for Assembling and Selling
- Occurrence of COVID-19 and Disruption of Healthcare
Scopolamine Market: Key Insights
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.74 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.31 in 2008 to USD 1,110.84 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10,623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5,355.79, which grew from USD 3,515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centres for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 4.5% in 2019. Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.3% |
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Base Year Market Size (2024) |
USD 511.78 billion |
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Forecast Year Market Size (2037) |
USD 1001.5 billion |
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Regional Scope |
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