Players Turn to Developing Countries to Gain Foothold in Transdermal Scopolamine Market

Transdermal scopolamine has gained much attention in recent years, especially as a treatment option for motion sickness, and with a soaring number of people traveling all over the world, the market for transdermal scopolamine is sure to rise further. 

Transparency Market Research, in a recent study, notes that this market will expand at a steady 6.70% CAGR between 2016 and 2024, driven by the increasing application of transdermal scopolamine. 

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How will patent expiration serve as an opportunity for new entrants in the transdermal scopolamine market?

Transderm Scop, the first transdermal scopolamine patch developed 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. This offers new entrants several opportunities to introduce their own products at a regional as well as global scale. Moreover, there has not been much development in terms of material or design of the patch. As a result, there is immense scope for existing and new players to experiment with newer designs and materials in order to cater to the rising demand for speedier delivery, shorter action time, reduced half-time of scopolamine, and treatment for issues such as skin irritation. 

Smaller companies are looking to make the most of opportunities such as these to gain a foothold in the transdermal scopolamine market. For instance, Taiwan-based Caleb Pharmaceuticals, Inc. introduced Ariel TDDS, a transdermal scopolamine patch to address motion sickness. Similarly, South Korean pharmaceutical manufacturer Myungmoon Pharm Co. Ltd. developed the Kimite Patch containing scopolamine. These small-time manufacturers export their products to leading markets in Europe and the U.S.

How has North America’s performance in the transdermal scopolamine market been thus far?

North America is the dominant regional market for transdermal scopolamine and in 2015, held nearly one third of the global market. The growth in this regional market is slated to be fueled by ongoing research in the field. A number of industry leaders, such as GlaxoSmithKline, and several research entities, such as the U.S. Navy and NASA, have been heavily investing in the development of newer designs, which continues to boost the North America transdermal scopolamine market. However, the several side effects of scopolamine patches pose major concerns among users, acting as a deterrent in their adoption or forcing consumers to look at other alternatives. This regional market is, according to research experts, anticipated to witness below-average growth over the coming years owing to its state of maturity and the threat posed by the emerging markets in Asia Pacific. 

A rise in healthcare expenditure and an increase in the number of travelers in APAC are trends that have emerged as a result of a number of consumers loosening their purse strings with rising disposable incomes. These factors are likely to benefit the transdermal scopolamine in Asia Pacific.

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