New York, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on the ‘Global Anticholinergic Drugs Market’ for the forecast period, i.e., 2022-2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Anticholinergic Drugs Market Size
The global anticholinergic drugs market garnered around USD 6.2 billion in 2021 and to grow with a CAGR of ~6% over the forecast period. The market expansion can be largely ascribed to the world’s geriatric population, which is also a major contributor to the increased prevalence of numerous chronic diseases. The United Nations World Population Prospects 2019 report estimates that 1 in 11 people over the age of 65 as of 2019 and that 1 in 6 people is predicted to be over the age of 65 by the year 2050. Significant government and private sector investment in the life science sector is also anticipated to contribute significantly to market growth. Over recent years, the global spending on health has more than twice, nearly USD 8.5 trillion in 2019, or 9.8 % of global GDP. The development and expansion of the healthcare infrastructure, as well as 24-hour medical support, are additional variables anticipated to boost market progress.
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Global Anticholinergic Drugs Market: Key Takeaways
- North American region gains the largest portion of the revenue
- Parkinson’s disease to dominate the revenue graph
- Hospital segment remains prominent in the channel of distribution segmentation
Rising Incidences of Chronic Illnesses and Rising Online Pharmacies to Spur the Market
More than 580 drugs have anticholinergic to some extent, claim several scientific data. Treatments for respiratory conditions (asthma, COPD), Parkinson’s, cardiovascular disease, urge incontinence, physiological disorders, depression, mydriasis, and allergies can benefit from medications with anticholinergic activity. The rising incidence of chronic diseases increases the demand for anticholinergic drugs. For instance, asthma is the most prevalent chronic illness in children and is a serious noncommunicable disease (NSD) that affects both children and adults. In 2019, 455,000 individuals died from asthma and an estimated 262 million people were affected by it. In low and lower-middle-income nations, where underdiagnosis and undertreatment are challenges, the majority of asthma-related deaths take place.
Another severe chronic condition, cardiovascular disease (CVD), is responsible for a number of fatalities worldwide. In 2019, about 875,000 fatalities in the United States were attributed to CVD which is recognized as the primary cause of death.
The popularity of online pharmacies is increasing anticholinergic drugs demand as well. The online pharmacy market is expected to grow moderately with overall revenues nearing USD 28 billion in 22. It is further predicted to cross over USD 51 billion by 2027.
Global Anticholinergic Drugs Market: Regional Overview
The global anticholinergic drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa Region.
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Rising Chronic Diseases to Drive the Market in the North American Region
Anticholinergic drug sales in North America currently account for the largest market share and during the projected period, it is expected that the region to continue to lead the market growth. The expansion of the market on account of the rising number of patients afflicted with illnesses like Parkinson’s disease, hypertension, and others as well as to the region’s better life science research possibilities and developed health care infrastructure. Each year, Parkinson’s Foundation reports that about 60,000 Americans are identified with Parkinson’s disease. Being technologically advanced makes it easier to innovate and create pharmaceuticals, which is another crucial factor anticipated to fuel market expansion. Furthermore, systolic hypertension of more than 120mmHg or diastolic blood pressure of more than 80mmHg, or taking medication to treat hypertension, characterizes nearly half of adults in the United States (47% or 116 million). The rise in chronic diseases fuels the market growth in the region.
Expanding Research Centers to Fuel the Asia Pacific Market
On the other hand, the market in the Asia Pacific is expected to increase over the forecast period as a result of the expansion of health care infrastructure and the installation of research and development centers. Clinical studies that have been registered have grown dramatically in recent years. In 2022, China has around 6790 clinical studies registered, representing a 2.2% increase in medical research over 2021 In addition, the expansion of production facilities in developing nations like Korea, India, and others is predicted to fuel market expansion in the area.
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The study further incorporates Y-O-Y growth, demand & supply and forecasts future opportunities in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Anticholinergic Drugs Market, Segmentation by Application
- Muscle Spasm
- Parkinson’s Disease
- Irritable Bowel Syndrome
- Chronic Obstructive Pulmonary Disease
- Overactive Bladder
The Parkinson’s disease (PD) segment is predicted to hold a substantial market share over the forecast period. PD is a neurodegenerative condition characterized by motor symptoms (slow movement, tremor, rigidity, and unbalanced walking) and a wide range of non-motor consequences. Over 8.5 million people worldwide are estimated to have PD as of 2019. This is a global prevalence that has doubled in the previous 25 years. More people are becoming disabled and dying from PD than from any other neurological condition. It is estimated that PD caused 329,000 deaths in 2019, a rise of over 100% from 2000, and 5.8 million disability-adjusted life years, an increase of 81% from 2000. The rising cases of PD raises the need for anticholinergic drugs and further propels the growth of the segment.
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Global Anticholinergic Drugs Market, Segmentation by Channel of Distribution
- Hospitals
- Retail Pharmacies
- Online Pharmacies
The hospital segment is estimated to hold the largest market share during the forecast period. The strong desire of people to be treated by highly qualified medical professionals and the presence of a sizable patient pool in the hospital facility that requires treatment for chronic diseases are two factors that have contributed to the expansion of the segment. There were around 8200 hospitals in Japan and over 6,000 hospitals in the United States in 2020. The necessity for anticholinergic medications to treat chronic diseases rises with the number of hospitals, which encourages the growth of the segment.
Global Anticholinergic Drugs Market, segmentation by Product Type
- Natural
- Semi-Synthetic Compound
- Synthetic Compound
Global Anticholinergic Drugs Market, Segmentation by Route of Administration
- Parental
- Topical
- Oral
Few of the well-known market leaders in the global anticholinergic drugs market that are profiled by Kenneth Research are Pfizer Inc., AbbVie Inc., Teva Pharmaceuticals Industries Ltd., Sanofi, GlaxoSmithKline plc., Novartis AG, Johnson & Johnson Services, Inc., Viatris Inc., Astellas Pharma Inc., and Boehringer Ingelheim International GmbH among others.
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Recent Developments in Global Anticholinergic Drugs Market
- On December 1st, 2021, Astellas Pharma Inc. reached an agreement with Dyno Therapeutics Inc. for an option and licensing deal to use Dyno's "CapsidMap" technology to develop novel AAV vectors for gene therapy that focus the skeletal and cardiac muscles.
- On 7 March 2022, the release of lenalidomide capsules under the brand name "Revlimid" was launched by Teva Pharmaceuticals Industries Ltd. The medications are taken to treat multiple myeloma, mantel cell lymphoma, and myelodysplastic syndromes.
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