A new study by Transparency Market Research (TMR) indicates that Novartis AG, alone, contributed nearly 41.0% of the overall revenue of the global transdermal scopolamine market in 2016. Other two torch bearers in the market, namely, GlaxoSmithKline Plc and Baxter International Inc., commanded a cumulative share of 49.0% in the same year. Even though, the number of small players in the market is less, the degree of competition within the arena will remain low over the forthcoming years. “The leading participants are focusing towards acquiring small companies in order to consolidate their position in the market,” says the author of the report.
The opportunity in the global transdermal scopolamine market was pegged at US$330.0 mn in 2015 and is poised to reach a valuation of US$585.3 mn by the end of 2024, progressing at a healthy CAGR of 6.70% between 2016 and 2024.