NEOSTIGMINE METHYLSULFATE INJECTION MARKET ANALYSIS

Neostigmine Methylsulfate Injection MarketSize and Trends

The global neostigmine methylsulfate injection market size is projected to be valued at US$ 156.7 Mn in 2023 and is projected to reach US$ 213.3 Mn by 2030, registering a CAGR of 4.5% during the forecast period. The growth of the market is driven by the increasing prevalence of myasthenia gravis, Chronic obstructive pulmonary disease COPD, and other neuromuscular disorders. Additionally, the rising demand for neostigmine methylsulfate injection in the hospital setting is also driving the market growth.

Neostigmine Methylsulfate Injection Market Trends

• Increased adoption of biologics and biosimilars: The rising adoption of biologics and biosimilars has significantly impacted the neostigmine methylsulfate injection market in recent years. As biologics have become more widely used for treating various chronic conditions like arthritis, cancers, and Crohn's disease, there is higher demand for reversal agents after biologics administration as well. Neostigmine methylsulfate is commonly used to reverse the effects of non-depolarizing neuromuscular blocking agents which are often given before or during surgeries and medical procedures. With the number of people undergoing complex surgeries rising significantly due to the increasing global disease burden, the need for reversal agents like neostigmine methylsulfate has also gone up considerably.

Additionally, the rise of biosimilars has augmented the usage of biologics further due to their reduced costs compared to reference biologics. For instance, according to the World Health Organization's biosimilars report from December 2022, global spending on biosimilars increased by 35% from 2020 to 2021 with savings of over US$ 230 billion for healthcare systems. This wider uptake of low-cost biosimilars means more patients are accessing biologic treatments which again raises the requirement for neostigmine methylsulfate to reverse their muscle blocking effects during operations. The surging demand stemming from broader biologics and biosimilars adoption presents lucrative growth opportunities for manufacturers in the neostigmine methylsulfate injection segment in the coming years.

• Shift towards precision medicine & personalized medicine: Regulatory authorities play a vital role in ensuring the safety, quality, and efficacy of pharmaceutical products including neostigmine methylsulfate injections. Ongoing regulatory updates and evolving guidelines can impact the market dynamics, particularly in terms of product approvals, labeling requirements, and manufacturing standards. Adhering to regulatory compliance is crucial for market participants to maintain and expand their market presence. For instance, according to the data published by Personalized Medicine Coalition Organization, 'In personalized medicine at U.S. Food and Drug Administration (FDA) for the year 2022' for year 2021 around 12 personalized medicines representing approximately 34 percent of all newly approved therapeutic molecular entities were approved by U.S. Food and Drug Administration (FDA). Personalized medicines have now accounted for at least a quarter of new drug approvals for each of the last eight years.