Serotonin Syndrome Market information: by drug
treatment (serotonin antagonists, supportive care (Muscle relaxants, sedatives,
anti-hyperthermics, antihypertensive, others), gastrointestinal
decontamination, others) by end users (hospitals, point of care, others) - Global
Forecast till 2023
Global Serotonin Syndrome Market size is
projected to reach USD 400 MN by 2023, registering approximately2.3 % CAGR
during the forecast period (2017-2023). Serotonin Syndrome is a rare, acute,
and paralyzing disorder that occurs with the administration of
serotonin-boosting medications. If not treated before in hand, the condition
can lead to severe complications, such as sweating, diarrhea, and extensive
muscle breakdown that may lead to death, manifesting itself with both
behavioral and other symptoms. The serotonin syndrome treatment consists of
discontinuing medications contributing to the condition and other therapies for
managing associated symptoms.
Rising cases of serotonin syndrome occurrences is a
key driving force behind the growth of the market. Moreover, factors such as
the increasing advances in technology and medical science, alongside the
massive uptake of advanced technology in the healthcare industry, accelerate
the market growth on the global platform.
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Additionally, rising per-capita healthcare expenditures,
alongside the increasing government support & funding for R&D, foster
the growth of the market, increasing the numbers of drug discoveries &
novel therapeutics. Conversely, lack of awareness for the condition, alongside
the absence of any definitive treatment, are some of the key growth impeders
for the serotonin syndrome market. Also, low per capita healthcare expenditures,
especially in the underdeveloped regions, are affecting the market health
severely.
Serotonin Syndrome Market Segments
The analysis has been segmented into three major
dynamics.
By Drug Treatment: Serotonin Antagonists, Supportive
Care (Muscle Relaxants, Sedatives, Anti-Hyperthermics, Antihypertensive,
others), Gastrointestinal Decontamination, and others.
By End Users: Hospitals, Point of Care, and others.
By Regions: Europe, Americas, Asia Pacific, Middle
East & Africa, and Rest-of-the-World.
Serotonin Syndrome Market Regional Analysis
North America dominates the global serotonin syndrome
market, heading with the presence of a well-developed healthcare sector and a
huge patient population in the region. Besides, factors such as the changing
lifestyle and high per capita healthcare expenditures are fuelling the regional
market growth. Additionally, the increasing numbers of clinical research led by
the massive funding from public and private organizations are fostering the
serotonin syndrome market in North America.
The US accounts for the maximum market share, backed
by the greater use of medications & expenditures on healthcare and the
early uptake of advanced technology & devices in the diagnosis and
treatment of serotonin syndrome.
Europe stands second in the global serotonin syndrome
market. Major factors impacting the growth of the regional market include the
availability of funds for R&D and a vast patient population. Moreover,
rising healthcare expenses and awareness about the syndrome and availability of
therapeutics to treat the same, drive the regional market growth.
The Asia Pacific serotonin syndrome market is projected
to emerge as a promising market globally. The growth of the market attributes
to the vast advancements in the medical technologies and the fast-growing
healthcare sector in the region. Moreover, the large unmet needs in the APAC
countries offer tremendous growth opportunities for global players. Rapidly
emerging countries in the APAC, such as China and India, are leading the growth
in the regional market. Also, growing support from governments for R&D
activities boosts the increase in the APAC serotonin syndrome market.
Serotonin Syndrome Market Competitive Analysis
Highly competitive, the serotonin syndrome market
appears fragmented due to the presence of several well-established players.
Providers strive for additional treatments that are cost-effective and can
provide the best outcome for all patients. Also, they try their best to ensure
patient satisfaction with other solutions that will keep them moving. To gain a
larger competitive share of the market, players incorporate strategic
initiatives such as mergers & acquisitions, collaborations, expansion, and
new therapeutics launch.
Also, these companies focus on areas with high unmet
clinical needs and require further innovation in addition to the progress that
has been made already. They make substantial investments to drive R&D and
clinical trials to develop effective therapies to treat the syndrome. They also
invest in acquiring a promising company to meet the expansion plans.
Major Players:
Players leading the global serotonin syndrome market
include Eli Lilly and Company, AstraZeneca Plc., Forest Laboratories Inc.,
Johnson & Johnson, GlaxoSmithKline plc., Merck & Co., Inc., Sanofi
S.A., Pfizer, Inc., and Ciron Drugs & Pharmaceuticals Pvt. Ltd., among
others.
Industry/ Innovation/ Related News:
Alfasigma USA, Inc., the American affiliate of
Alfasigma, a leading Italian pharmaceutical company, announced the acquisition
of an effective drug-brand – ZELNORM, from Sloan Pharma S.a r.l., a subsidiary
of US WorldMeds Holdings, LLC. Alfasigma Plans to relaunch ZELNORM, a
prescription pharmaceutical treatment for irritable bowel syndrome with IBS-C,
in the United States. It is the only selective serotonin-4 (5-HT4) receptor
agonist, which was approved to treat IBS-C. In April 2019, ZELNORM was approved
by the FDA for the reintroduction of the IBS-C treatment for adult women.
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