by The Neostigmine Methylsulfate Injection Market is estimated to be valued at Us$ 156.75 Mn or Mn in 2023 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Neostigmine Methylsulfate injection is a synthetic anticholinesterase carbamate derivative that is used as a peripheral nerve block reversal agent. It works by competing for and inhibiting acetylcholinesterase at postsynaptic cholinergic receptors, preventing the breakdown of acetylcholine. This results in increased concentrations of acetylcholine and greater stimulation of cholinergic receptors. Neostigmine methylsulfate injection is indicated for the reversal of the effects of nondepolarizing neuromuscular blocking agents after surgery to accelerate the return of normal muscle function.
Market Dynamics:
Two major drivers anticipated to boost the growth of the Neostigmine Methylsulfate Injection Market include growing surgical procedures and increasing availability of generic drugs. Complex surgical procedures that require neuromuscular blocking agents during operations are on the rise globally with the growing disease burden. This is expected to demand higher volumes of adjunctive drugs like neostigmine methylsulfate injection for reversing neuromuscular blockade post-surgery. Additionally, the patent expiries of branded neostigmine methylsulfate injections have led to increased availability of affordable generic versions. This has made the drug accessible to more patients and hospitals, thereby fueling market revenues.
Segment Analysis
The neostigmine methylsulfate injection market is dominated by the hospital pharmacies segment. This segment accounts for over 60% of the market share as neostigmine methylsulfate injections are primarily used in managing myasthenia gravis, a long-term neuromuscular disease, in hospital settings. Neostigmine methylsulfate injections are administered under medical supervision for immediate reversal of the effects of nondepolarizing neuromuscular blocking agents used during surgery or mechanical ventilation. Thus, the availability of trained healthcare professionals and emergency medical facilities make hospitals the largest end users of neostigmine methylsulfate injections.
PEST Analysis
Political: Regulations regarding drug safety, clinical trials, and marketing approvals make the political landscape of the neostigmine methylsulfate injection market quite stringent. Regulations aim to ensure the quality, efficacy and safety of drugs.
Economic: Rising healthcare expenditures and increasing cases of postoperative respiratory complications are driving demand for effective reversal agents. The growing geriatric population also contributes to market growth due to higher risk of neuromuscular diseases.
Social: Growing awareness about effective postoperative care and availability of newer treatment options are positively impacting the social factors. Patients demand fast recovery after surgery without complications.
Technological: Advances in drug delivery systems allow for targeted and controlled delivery of neostigmine methylsulfate injections. Newer formulations ensure minimal side effects and maximize drug efficacy.
Key Takeaways
The Global Neostigmine Methylsulfate Injection Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period of 2023-2030, due to increasing postoperative respiratory complications. The growing number of surgeries and rising geriatric population are key factors driving market growth.
On a regional basis, North America dominates the neostigmine methylsulfate injection market and is expected to continue its dominance during the forecast period. This is attributed to the rising prevalence of myasthenia gravis in the region coupled with technological advancements and presence of major market players.
Key players operating in the neostigmine methylsulfate injection market are Pfizer Inc., Fresenius Kabi AG, Mylan N.V., Sandoz Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Hospira (now part of Pfizer), Akorn Pharmaceuticals, and Baxter International Inc. These players are focused on developing enhanced formulations to expand their market share. For instance, Pfizer Inc. offers neostigmine methylsulfate injection in prefilled syringes for targeted delivery.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
