Anticholinergic Drugs Market: Information by Type (Synthetic Compounds, Natural, Semi-Synthetic Compounds), Application (Overactive Bladder, Parkinson’s Disease, Chronic Obstructive Pulmonary Disease, Muscle Spasms, Irritable Bowel Syndrome), Route of Administration (Oral, Parenteral, Topical), End User (Hospitals and Pharmacies) and Region – Forecast till 2024
Anticholinergic drugs are prescribed by doctors for inhibiting the actions of neurotransmitters which are responsible for involuntary twitching of muscles and other bodily disorders. They are also used in pre-surgery by anesthesiologists for maintaining normal body functions. The global anticholinergic drugs market report by Market Research Future (MRFR) contains numerous trends, opportunities, threats, and restraints which can prove useful to new investors and entrants.
The global Anticholinergic Drugs Market Trends is predicted to exhibit 4.50% CAGR from 2019 to 2024 (forecast period) to touch a size of USD 7,149.90 million. High prevalence of chronic diseases is one of the primary drivers of the market. According to the American Urological Association, nearly 33 million were diagnosed with overactive bladder (OAB) symptoms. Among them, women had registered a higher percentage than men. Anticholinergic drugs can block the transmission of acetylcholine, a chemical which can trigger OAB.
The expanding geriatric populace and increased inflow of capital in life science research are other main market drivers. According to the World Health Organization (WHO), the global elderly populace can double to 50% by 2022. Patients in the U.S. above 65 can exceed by 20% by 2030.
But adverse effects associated with these drugs can impede market growth.
The global anticholinergic drugs market is segmented by type, application, route of administration, and end-user.
By type, it is segmented into natural, semi-synthetic compounds, and synthetic compounds. The synthetic compounds segment is touted to reach a value of USD 4,634.15 million by 2024.
By application, it is segmented into irritable bowel syndrome, chronic obstructive pulmonary disease, overactive bladder, muscle spasms, and Parkinson’s disease.
By route of administration, it is segmented into topical, oral, and parenteral.
By end-user, it is segmented into pharmacies and hospitals. Hospitals are touted to generate close to USD 4,218.6 million by 2024.
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The Middle East & Africa (MEA), the Americas, Asia Pacific (APAC), and Europe are regions taken into consideration in the compilation of the global anticholinergic drugs market report.
The Americas held 39.8% market share in 2018 and may dominate the global market due to high prevalence of neurological and kidney disorders. On the other hand, the Europe region is expected to demonstrate a phenomenal return on earnings during the forecast period. This can be attributed to the large allocation of healthcare expenditure for the common public, large geriatric populace, and increasing cases of kidney diseases. Germany, in particular, held close to 25.8% market share in Europe.
The APAC region is predicted to display a robust CAGR during the assessment period due to establishment of large research and development centers in tandem with new supportive infrastructure to ensure the constant production. Moreover, setup of production units in developing countries in the region due to lax tax laws and room for faster development of anticholinergic drugs can bolster the market volume by a considerable extent.
Lastly, the MEA region can exhibit a sluggish growth rate due the large geriatric populace and shortage of healthcare infrastructure.
Major industry participants in the global anticholinergic drugs market include GlaxoSmithKline Plc, Teva Pharmaceutical Industries Ltd, Astellas Pharma Inc., Allergan Plc, Johnson & Johnson Services Inc., Boehringer Ingelheim International GmbH, Sanofi, Novartis AG, Mylan N.V., Pfizer Inc., and others. Novel product development in terms of cost-effective drugs and innovation are strategies being incorporated by these players.
A united research effort headed by Murdoch Children’s Research Institute and The Royal Children’s Hospital outlined the high efficacy of three anticholinergic drugs, namely glycopyrrolate, scopolamine, and benzhexol hydrochloride. These drugs have shown positive success in reducing drooling in children with learning and developmental disabilities.
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