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Report
Hyoscine Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 117 Pages I Mordor Intelligence
The hyoscine market is expected to register a CAGR of 4% during the forecast period.
The COVID-19 pandemic significantly impacted the hyoscine market in the initial phases as lockdowns and restrictions reduced the medicine's availability. However, the industry has been recovering strongly in the post-pandemic scenario. Over the past two years, a rise in product sales and increased travel by people promoted the market's growth.
Moreover, the increased incidence of motion sicknesses such as nausea and vomiting further led to the adoption of hyoscine medicines. Additionally, the market's growth is aided by increased research in the field of Hyoscine. For instance, an article published on April 2022 by BMC Journal showed that pre-treatment with intravenous hyoscine butyl-bromide (HBB) is a risk-free method for both the mother and the child in cesarean section patients undergoing spinal anesthesia to lower the risk of severe intraoperative bradycardia. Furthermore, the increase in travel worldwide is likely to boost the hyoscine market since motion sickness is mainly treated with hyoscine. For instance, as per the June 2022 report from UNWTO, the latest World Tourism Barometer showed an increase of 182% for international tourism in the first three months of 2022 compared to the previous year.
As per the above-mentioned factors, the hyoscine market is anticipated to grow during the forecast period. However, stringent regulation related to the manufacturing and marketing of hyoscine products may hamper the market to a certain extent.
Hyoscine Market Trends
Oral Hyoscine is Expected to Hold a Significant Market Share in the Hyoscine Market During the Forecast Period
Oral hyoscine is expected to contribute to the largest segment attributing to ease of administration, easy availability, and wide preference in abdominal muscle cramps and treating motion sickness. Oral tablets can be purchased without a prescription and are more convenient to obtain in pharmacies than patches and injections. Also, they are more economical than injections which further propel the oral segment. Moreover, an increased patient pool and an increase in the traveling population are leading to the high demand for hyoscine and driving the growth of the oral hyoscine market. For instance, as per the report from UNWTO, 446 million international arrivals occurred in 2021. The expenditure associated with outbound tourism in 2021 was USD 620.9 billion.
Furthermore, increased research associated with oral hyoscine is likely to boost market growth during the forecast period. As per the article published on May 2022 by EBWH journal, Hyoscine Butylbromide accelerates cervical dilation and reduces the time it takes for all phases of labor to complete. The intervention of HBB was given intravenous, intramuscular, oral, or suppository in a dose of 20 mg or 40 mg. Additionally, Boehringer Ingelheim sponsored a clinical trial published in May 2022, which evaluated the effects of Hyoscine Butyl bromide (HBB) 20 mg in comparison to the placebo when used as needed, as measured by the subject's assessment of the intensity of abdominal pain associated with cramping (APC) in the treatment of two episodes.
Hence, considering the above-mentioned factors, oral hyoscine is expected to grow during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do the Same in the Forecast Period
North America is expected to hold a significant market share in the global hyoscine market owing to many market players operating in manufacturing the medicines, growth in the number of surgeries supplements, growing healthcare concern, increasing healthcare expenditure, and presence of well-established healthcare infrastructure. Furthermore, there is a lot of research work related to Hyoscine carried out in the studied region, which is anticipated to boost the market growth. For instance, as per the article published on March 2022 by PubMed, hyoscine reduces pain by inducing cervical ripening and secreting pro-inflammatory cytokines and prostaglandins.
Furthermore, increased travel into the country and across North America is anticipated to boost the market growth during the forecast period. People tend to have motion sickness during travel, and hyoscine is usually used to cure that. For instance, as per the report from UNWTO, in 2020, the number of domestic tourists in the United States and Canada was 1,581,116 and 155,852, respectively. Additionally, a clinical trial was sponsored by the University of Alcala in 2021 recruited in Mexico. The study demonstrated the application of lumbar spine manipulation by a physical therapist and pharmacological therapy using Hyoscine and Ibuprofen.
Hence considering the above-mentioned facts, North America is expected to hold a significant market share in the global hyoscine market.
Hyoscine Market Competitor Analysis
The hyoscine market is moderately competitive, with the presence of several international and local companies operating in this market. Key players are focusing on different strategic plans, such as mergers, acquisitions, and collaboration, to increase their product availability. The competitive landscape includes an analysis of some international and local companies that hold significant market shares and are well known. Some companies in the market are Caleb Pharmaceuticals Inc., Baxter International, Alkaloids Corporation, Alchem International Pvt. Ltd, Guangzhou HanFang Pharmaceutical, MYUNGMOON PHARM CO. LTD, and Perrigo.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Consumer Awareness Towards Hyoscine
4.2.2 Increase in Travelling
4.3 Market Restraints
4.3.1 Regulatory Framework
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Type
5.1.1 Hyoscine Butylbromide
5.1.2 Hyoscine Hydrobromide
5.2 By Mode of Administration
5.2.1 Oral
5.2.2 Patches
5.2.3 Injections
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Caleb Pharmaceuticals Inc.
6.1.2 Baxter International
6.1.3 GSK PLC
6.1.4 Alchem International Pvt. Ltd
6.1.5 Phytex Australia
6.1.6 MYUNGMOON PHARM CO.,LTD.
6.1.7 Perrigo
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