ALBANY, New York, May 23, 2018 /PRNewswire/ --
Transparency Market Research (TMR) has published a new report
titled, "Motion Sickness Treatment Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026".
According to the report, the global motion sickness treatment
market was valued at US$ 670.0 Mn in
2017 and is projected to expand at a CAGR of 3.0% from 2018 to
2026. The report suggests that increase in number of travelers
across the globe and rise in adoption of prescription motion
sickness drugs are anticipated to drive demand for motion sickness
treatment drugs and products from 2018 to 2026. Key players and
researchers are investing in the development of new drug
formulations and drug delivery systems for motion sickness
treatment. Hence, adoption of prescription drugs is expected to
increase in developed markets such as North America and Western Europe. These regions are likely to
account for significant share of the global motion sickness
treatment market during the forecast period. Surge in number of
travelers in emerging markets such as China and India is likely to boost the growth of the
motion sickness treatment market in Asia
Pacific from 2018 to 2026.
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Anticholinergics to Account for High Market
Share
The report offers detailed segmentation of the global motion
sickness treatment market based on treatment type, route of
administration, and distribution channel. In terms of treatment
type, the anticholinergics segment is poised to account for leading
share of the global market during the forecast period from 2018 to
2026. The segment is anticipated to expand at a CAGR of 3.5% from
2018 to 2026. The anticholinergics segment is expected to account
for 50% to 60% market share during the forecast period. Long
lasting relief, and better efficacy factors of anticholinergics
such as transdermal scopolamine patches is estimated to contribute
for its leading share and exponential growth rate. High adoption of
transdermal scopolamine patch and comparatively higher prices are
attributed to the leading share of the transdermal route of
administration segment. Most of the OTC motion sickness remedies
are offered in tablet form. Hence, the oral segment is likely to
account for significant share of the market during the forecast
period. The segment is projected to expand at a moderate CAGR of
3.0% from 2018 to 2026.
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Retail Pharmacies to be Most Lucrative Distribution Channel
Segment
In terms of distribution channel, retail pharmacies was the
leading segment of the global motion sickness treatment market in
2017. The segment is projected to account for the dominant share of
the global motion sickness treatment market during the forecast
period. It is likely to expand at a CAGR of 3.0% from 2018 to 2026.
Retail pharmacies offer prescription as well as over-the-counter
motion sickness treatment drugs and products. The trend of
self-medication using OTC motion sickness remedies is anticipated
to augment the segment. The online pharmacies segment is
anticipated to expand at a CAGR of 3.5% from 2018 to 2026.
Asia Pacific to Register
Exponential Growth and Offer High Incremental
Opportunity
In terms of revenue, North
America was the leading market for motion sickness treatment
in 2017. High adoption of prescription motion sickness drugs in the
U.S. is a major factor attributed to the large share of the region.
Introduction of generic transdermal scopolamine is likely to hamper
the growth of the market in North
America. Surge in number of travelers is projected to
augment the motion sickness treatment market in Europe. The region is anticipated to account
for 24% to 28% share of the global motion sickness treatment market
during the forecast period. Increase in disposable income and surge
in number of domestic and international travelers are expected to
propel the motion sickness treatment market in Asia Pacific. The market in the region is
likely to expand at a CAGR of 3.5% from 2018 to 2026. Availability
of generics and fragmented market in the region are the major
restraints of the motion sickness treatment market in Asia Pacific.
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Entry of Generics and Over-reliance on OTC Motion Sickness
Remedies to Hamper Market
Motion sickness is a common condition experienced by around 50%
travelers in the course of travel. Motion sickness is characterized
by symptoms such as nausea, dizziness, and fatigue. It is
experienced while traveling in a vehicle, boat, airplane, or even
while being exposed to virtual reality (VR) such as VR games and
simulations. Increase in number of travelers and surge in use of
virtual reality is projected to drive the uptake of motion sickness
treatment drugs and products. According to the United Nations World
Tourism Organization (UNWTO), international tourist arrivals
increased by 7% in 2017 as against the previous year and the trend
to likely to continue in the near future. An article published in
2017 by Mediakix magazine stated that there are 22.4 million
virtual reality users in the U.S. Ongoing developments in motion
sickness drug development and delivery systems is projected to
augment adoption of prescription motion sickness treatment drugs.
However, introduction of generic transdermal scopolamine patches in
the U.S. and availability of other such products in Asia Pacific are likely to hamper the market.
Moreover, the global motion sickness treatment market is
fragmented, with availability of large number of OTC products
across the globe. The trend of self-medication using these low cost
OTC products in developed as well emerging markets is a major
concern among prescription-only drug manufacturers.
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Fragmented Market due to Large Number of Suppliers of OTC
Motion Sickness Remedies
The report also provides profiles of leading players operating
in the global motion sickness treatment market. These include
GlaxoSmithKline plc, Perrigo Company plc, Prestige Brands, Inc.,
WellSpring Pharmaceutical Corporation, Caleb Pharmaceuticals, Inc.,
Myungmoon Pharm Co., Ltd., Baxter International, Inc., and
Reliefband Technologies LLC. Most of these key players emphasize on
brand expansion through the introduction of new product or drug
variants. GlaxoSmithKline plc and Perrigo Company plc are the only
suppliers of prescription-only motion sickness treatment drugs,
while Reliefband Technologies LLC is one of the pioneers in
offering wearable device for motion sickness treatment based on
Neurostimulation platform. However, there are numerous small and
mid-sized OTC product suppliers operating in the international and
regional markets. For instance, the first generic to transdermal
scopolamine patch was introduced in the U.S. in 2017, while
regional players have been offering their transdermal scopolamine
systems in Asia Pacific since
2000. These factors have led to a fragmented motion sickness
treatment market across the globe.
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