The global Nausea Medicine Market is estimated to be valued at US$ 7.52 Bn or in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nausea medicine commonly known as antiemetic drugs are used for the prevention and treatment of nausea and vomiting. They provide quick relief from nausea and help improve quality of life.
Market key trends:
One of the major trend being witnessed in the nausea medicine market is the increasing development of pipeline drugs and treatment options. There is an ongoing research for developing new formulations or novel mechanisms of action to provide enhanced efficacy and reduced side effects. Pharmaceutical companies are investing heavily in research and development of combination therapies as well as condition specific drugs with minimum adverse effects.
The nausea medicine market has been witnessing increasing adoption of novel drug delivery systems for nausea medications. Orally disintegrating tablets (ODTs) are gaining popularity as they dissolve quickly in the mouth without water. This offers convenience of administration to patients suffering from nausea especially in conditions like motion sickness. Growing preference for these non-invasive delivery systems is a key trend in this market.
SWOT Analysis
Strengths: Wide range of drug formulations available to tackle different causes and symptoms of nausea. Established brands with proven efficacy.
Weaknesses: Adverse effects associated with long-term usage of some antiemetic medications. Patent expiries of major drugs resulting in price erosion.
Opportunities: Development of newer drug molecules targeting nausea related to specific conditions like chemotherapy-induced nausea. Emerging economies provide lucrative growth prospects.
Threats: Strong pipeline of biosimilars and generics intensifying competition. Shift towards herbal alternatives for mild cases of nausea.
Key Takeaways
Global Nausea Medicine Market Demand is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing prevalence of conditions requiring long-term antiemetic therapy like cancer. The market size for 2023 is estimated to be US$ 7.52 Bn.
Regional analysis: North America dominated the global nausea medicine market in 2023 and is expected to remain the largest market during the forecast period. This is attributed to high patient awareness levels regarding availability of therapeutic options and well-established healthcare infrastructure in the region. Asia Pacific is anticipated to exhibit the fastest growth over 2023-2030 driven by rising geriatric population, increasing healthcare spending and expanding pharmaceutical industry in the region.
Key players operating in the nausea medicine market are GlaxoSmithKline plc, Pfizer Inc., Novartis International AG, Sanofi S.A., Merck & Co., Inc., Johnson & Johnson, Bayer AG, Takeda Pharmaceutical Company Limited, AstraZeneca plc, Eli Lilly and Company.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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