Overview and Scope
Antispasmodic drugs are medications that treat, prevent, or reduce the frequency of muscular spasms, particularly those of smooth muscle, such as those in the gut wall. It works by slowing the normal motions of the gut and relaxing the muscles of the stomach and intestines.
Sizing and Forecast
The antispasmodics drugs market size has grown strongly in recent years. It will grow from $12.69 billion in 2023 to $13.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to rising prevalence of spasmodic conditions, advancements in medical research, growing aging population, changing lifestyles, improvements in diagnosis.
The antispasmodics drugs market size is expected to see strong growth in the next few years. It will grow to $20.04 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to increasing healthcare expenditure, personalized medicine, global population growth, emerging markets, clinical trials and research. Major trends in the forecast period include expanding indications for antispasmodics, healthcare infrastructure development, advancements in drug development, increasing awareness and diagnosis, preference for non-invasive treatment options.
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Segmentation & Regional Insights
The antispasmodics drugs market covered in this report is segmented –
1) By Drug: Dicyclomine Hydrochloride, Loperamide Hydrochloride, Other Drugs
2) By Indication: Irritable Bowel Syndrome, Stomach Cramps, Other Indications
3) By Route Of Administration: Oral, Parenteral, Other Modes Of Administrations
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmnacy
5) By End-User: Hospitals, Homecare, Specialty Clinics, Other End-Users
North America was the largest region in the antispasmodics drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the antispasmodics drugs market report during the forecast period. The regions covered in the antispasmodics drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increasing elderly population is expected to propel the growth of the antispasmodic drug market going forward. People of 65 years and older are considered to be elderly and are associated with a host of physical and psychological health issues. Antispasmodic drugs are helpful for elderly populations in managing symptoms related to various conditions that can cause muscle spasms or cramping and also could be used for some conditions like irritable bowel syndrome (IBS), gastroesophageal reflux disease (GERD), interstitial cystitis, and uterine cramping. For instance, in October 2022, according to the World Health Organization (WHO), a Switzerland-based organization responsible for international public health, the global proportion of the population aged 60 and up will rise to 1.4 billion in 2030. The world’s population of persons aged 60 and over will double by 2050 (2.1 billion). The number of people aged 80 or more is predicted to increase substantially by 2050, reaching 426 million. Therefore, an increase in the elderly population will drive the antispasmodic drug market.
Key Industry Players
Major companies operating in the antispasmodics drugs market are launching new products to sustain their position in the market. For instance, in January 2023, Lupin Limited, an Indian-based pharmaceutical company, launched Fesoterodine Fumarate, approved by Food and Drug Administration (FDA), a US-based federal government agency. Fesoterodine Fumarate is a generic antispasmodic drug used to treat certain bladder problems, such as overactive bladder and neurogenic detrusor overactivity. Fesoterodine Fumarate belongs to the class of drugs known as antispasmodics and works by relaxing the bladder muscles. It is available in the form of extended-release tablets.
The antispasmodics drugs market report table of contents includes:
1. Executive Summary
2. Antispasmodics Drugs Market Characteristics
3. Antispasmodics Drugs Market Trends And Strategies
4. Antispasmodics Drugs Market – Macro Economic Scenario
5. Global Antispasmodics Drugs Market Size and Growth
…
31. Global Antispasmodics Drugs Market Competitive Benchmarking
32. Global Antispasmodics Drugs Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Antispasmodics Drugs Market
34.Antispasmodics Drugs Market Future Outlook and Potential Analysis
35. Appendix
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