The global Neostigmine Methylsulfate Injection Market is estimated to be valued at Us$ 156.75 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 reversible cholinesterase inhibitor used for the treatment of myasthenia gravis and post-operative reversal of neuromuscular blockade after surgery. It helps in restoring neuromuscular transmission when blocked by non-depolarizing muscle relaxants used during surgery or anesthesia. The neostigmine methylsulfate injection is administered through intravenous or intramuscular route.
Market key trends:
One of the key trends in the neostigmine methylsulfate injection market is the increasing adoption of telehealth services. The sudden outbreak of COVID-19 pandemic compelled people to seek healthcare services digitally or via telecommunication technologies. As the pandemic restricted movement, many patients suffering from myasthenia gravis or requiring post-surgical care used telehealth services to consult neurologists or surgeons regarding their conditions and medication plans. The telehealth boom reduced disease transmission risks and ensured continuity of care. This trend is expected to continue influencing the neostigmine methylsulfate injection market even in the post pandemic period.
Segment Analysis
The global neostigmine methylsulfate injection market is segmented based on application, distribution channel, and region. By application, the post-operative ileus segment accounted for the largest market share in 2022. Post-operative ileus is a common complication associated with abdominal and pelvic surgery and often requires pharmacological treatment with neostigmine methylsulfate injections to induce bowel movement. By distribution channel, the hospitals segment dominated the market in 2022 due to higher patients visits and preference of hospitals for treatment of post-operative ileus and other gastrointestinal conditions.
Key Takeaways
The Global Neostigmine Methylsulfate Injection Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing prevalence of gastrointestinal conditions requiring neostigmine methylsulfate treatment.
Regional analysis
North America dominated the global market in 2022 due to growing geriatric population being prone to postoperative ileus and favorable reimbursement policies. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period owing to rising healthcare expenditure and increasing patient awareness.
Key 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. Pfizer Inc. holds the largest share owing to its diversified product portfolio and strong geographic presence across North America and Europe.
