Serotonin Syndrome Market information: by drug treatment (serotonin antagonists, supportive care (Muscle relaxants, sedatives, anti-hyperthermics, antihypertensive, others), gastrointestinal decontamination, others) by end users (hospitals, point of care, others) – Global Forecast till 2023
Serotonin Syndrome is a rare, acute, and paralyzing disorder that occurs with the administration of serotonin-boosting medications. If not treated before in hand, the condition can lead to severe complications, such as sweating, diarrhea, and extensive muscle breakdown that may lead to death, manifesting itself with both behavioral and other symptoms. The serotonin syndrome treatment consists of discontinuing medications contributing to the condition and other therapies for managing associated symptoms.
Rising cases of serotonin syndrome occurrences is a key driving force behind the growth of the market. Moreover, factors such as the increasing advances in technology and medical science, alongside the massive uptake of advanced technology in the healthcare industry, accelerate the market growth on the global platform. According to Market Research Future (MRFR), the global Serotonin Syndrome Market Trends is projected to reach USD 400 MN by 2023, registering approximately2.3 % CAGR during the forecast period (2017-2023).
Additionally, rising per-capita healthcare expenditures, alongside the increasing government support & funding for R&D, foster the growth of the market, increasing the numbers of drug discoveries & novel therapeutics. Conversely, lack of awareness for the condition, alongside the absence of any definitive treatment, are some of the key growth impeders for the serotonin syndrome market. Also, low per capita healthcare expenditures, especially in the underdeveloped regions, are affecting the market health severely.
Serotonin Syndrome Market – Segments
The analysis has been segmented into three major dynamics.
By Drug Treatment : Serotonin Antagonists, Supportive Care (Muscle Relaxants, Sedatives, Anti-Hyperthermics, Antihypertensive, others), Gastrointestinal Decontamination, and others.
By End Users : Hospitals, Point of Care, and others.
By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Serotonin Syndrome Market – Regional Analysis
North America dominates the global serotonin syndrome market, heading with the presence of a well-developed healthcare sector and a huge patient population in the region. Besides, factors such as the changing lifestyle and high per capita healthcare expenditures are fuelling the regional market growth. Additionally, the increasing numbers of clinical research led by the massive funding from public and private organizations are fostering the serotonin syndrome market in North America.
The US accounts for the maximum market share, backed by the greater use of medications & expenditures on healthcare and the early uptake of advanced technology & devices in the diagnosis and treatment of serotonin syndrome.
Europe stands second in the global serotonin syndrome market. Major factors impacting the growth of the regional market include the availability of funds for R&D and a vast patient population. Moreover, rising healthcare expenses and awareness about the syndrome and availability of therapeutics to treat the same, drive the regional market growth.
The Asia Pacific serotonin syndrome market is projected to emerge as a promising market globally. The growth of the market attributes to the vast advancements in the medical technologies and the fast-growing healthcare sector in the region. Moreover, the large unmet needs in the APAC countries offer tremendous growth opportunities for global players. Rapidly emerging countries in the APAC, such as China and India, are leading the growth in the regional market. Also, growing support from governments for R&D activities boosts the increase in the APAC serotonin syndrome market.
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Serotonin Syndrome Market – Competitive Analysis
Highly competitive, the serotonin syndrome market appears fragmented due to the presence of several well-established players. Providers strive for additional treatments that are cost-effective and can provide the best outcome for all patients. Also, they try their best to ensure patient satisfaction with other solutions that will keep them moving. To gain a larger competitive share of the market, players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and new therapeutics launch.
Also, these companies focus on areas with high unmet clinical needs and require further innovation in addition to the progress that has been made already. They make substantial investments to drive R&D and clinical trials to develop effective therapies to treat the syndrome. They also invest in acquiring a promising company to meet the expansion plans.
Players leading the global serotonin syndrome market include Eli Lilly and Company, AstraZeneca Plc., Forest Laboratories Inc., Johnson & Johnson, GlaxoSmithKline plc., Merck & Co., Inc., Sanofi S.A., Pfizer, Inc., and Ciron Drugs & Pharmaceuticals Pvt. Ltd., among others.
Industry/ Innovation/ Related News:
July 08, 2019 –– Alfasigma USA, Inc., the American affiliate of Alfasigma, a leading Italian pharmaceutical company, announced the acquisition of an effective drug-brand – ZELNORM, from Sloan Pharma S.à r.l., a subsidiary of US WorldMeds Holdings, LLC. Alfasigma Plans to relaunch ZELNORM, a prescription pharmaceutical treatment for irritable bowel syndrome with IBS-C, in the United States. It is the only selective serotonin-4 (5-HT4) receptor agonist, which was approved to treat IBS-C. In April 2019, ZELNORM was approved by the FDA for the reintroduction of the IBS-C treatment for adult women.
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