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Cholinergic Drugs Market Size, Share & Growth 2024-2033 | Key Players & Trends
Cholinergic Drugs Market Size
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According to The Business Research Company's, The cholinergic drugs market size has grown steadily in recent years. It will grow from $7.56 billion in 2023 to $7.83 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to the increasing aging population, regulatory approvals, increasing healthcare expenditure, research and development efforts, and ongoing research and development activities.
The cholinergic drugs market size is expected to see steady growth in the next few years. It will grow to $9.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to expanding applications, economic growth in emerging markets, growing awareness and diagnosis, regulatory developments, and the rising prevalence of chronic diseases. Major trends in the forecast period include technological advancements, preference for sustainable and eco-friendly products, development of advanced cholinergic drugs with fewer side effects, rise in R&D activities for drugs, and technology innovation.
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Market Drivers and Trends:
The increasing prevalence of neurological and psychiatric disorders is expected to propel the growth of the cholinergic drugs market moving forward. Neurological disorders are medical conditions that affect the nervous system, including the brain, spinal cord, and nerves. Psychiatric disorders are mental health conditions that affect a person's mood, thinking, and behavior. The prevalence of neurological and psychiatric disorders is due to a combination of genetic, biological, environmental, and psychological factors that disrupt normal brain function and mental processes. Cholinergic drugs help treat neurological and psychiatric disorders by enhancing or mimicking the action of acetylcholine, improving neurotransmission, and alleviating symptoms related to conditions including Alzheimer's disease, myasthenia gravis, and confident mood and anxiety disorders. For instance, in May 2024, according to the National Center for Biotechnology Information, a US-based Library of Medicine, the estimated number of Americans aged 65 and older living with Alzheimer's disease is anticipated to increase from 6.9 million in 2024 to nearly 13 million by 2050. Furthermore, in 2024, according to the National Alliance On Mental Illness, a US-based organization, the U.S. aged 18-44, psychosis spectrum and mood disorders account for nearly 600,000 hospitalizations each year. Therefore, the increasing prevalence of neurological and psychiatric disorders is driving the growth of the anticholinergic drugs market.
The Impact Of Increasing Chronic Disease Prevalence On The Cholinergic Drugs Market
The increasing prevalence of chronic diseases is expected to drive the growth of the cholinergic drugs market going forward. Chronic disease is a long-lasting condition that typically requires ongoing medical attention and can limit daily activities or quality of life. The prevalence of the chronic disease is due to altered habits, inheritance, and exposure to chemicals, toxins, and pollutants in the air. Cholinergic drugs benefit chronic diseases by targeting specific pathways involved in the disease process, alleviating symptoms, and improving the quality of life for affected individuals. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based medicine library, the number of people aged 50 and above who suffer from one or more chronic illnesses is expected to increase by 99.5% by 2050, from 71.52 million in 2020 to 142.66 million. Therefore, the increased prevalence of chronic diseases drives the growth of the cholinergic drugs market.
Major companies operating in the cholinergic drugs market are developing innovative products, such as neostigmine methylsulfate injection, to sustain their position in the market. Neostigmine methylsulfate injection is a cholinesterase inhibitor that enhances cholinergic activity by inhibiting the breakdown of acetylcholine. For instance, in June 2023, Hikma Pharmaceuticals plc, a UK-based pharmaceutical company, launched a Neostigmine Methylsulfate Injection USP in a prefilled syringe. This 3mg/3mL prefilled syringe (PFS) has been introduced in the United States and acts as a cholinesterase inhibitor. It is explicitly used to reverse the effects of nondepolarizing neuromuscular blocking agents (NMBAs) following surgical procedures. This innovative product offers a range of unique features designed to enhance the efficiency, accuracy, and safety of administering Neostigmine Methylsulfate. Prefilled syringes provide unparalleled convenience by eliminating the need for manual filling, reducing preparation time for healthcare professionals, and minimizing the potential for dosage errors.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Services Inc., Abbvie Inc., Sanofi S.A., Novartis AG, GlaxoSmithKline plc, Gilead Sciences Inc., Boehringer Ingelheim GmbH, Daiichi Sankyo Company Limited, UCB S.A., Sun Pharmaceutical Industries Ltd., Eisai Pharmaceutical Co. Ltd., Aurobindo Pharma Limited, Ono Pharmaceutical Co. Ltd., Hikma Pharmaceuticals plc, Lupin Limited, H Lundbeck A/S, Alvogen Inc., Mylan N.V., Nicox S.A, Allergan India Private Limited
Cholinergic Drugs Market 2024 Key Insights:
• The cholinergic drugs market size is expected to see steady growth in the next few years. It will grow to $9.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.
• Rising Demand For Cholinergic Drugs Due To Increasing Neurological And Psychiatric Disorders
• Advancements In Prefilled Syringe Technology For Cholinergic Drug Delivery
• North America was the largest region in the cholinergic drugs market in 2023
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