The muscle spasticity global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Muscle Spasticity Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The muscle spasticity market size has grown strongly in recent years. It will grow from $3.85 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing investments in research and development, expansion of clinical indications, favorable regulatory approvals and reimbursement policies, increasing emphasis on adopting a multimodal approach, and increasing prevalence of multiple sclerosis.
The muscle spasticity market size is expected to see strong growth in the next few years. It will grow to $5.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to growing focus on developing patient-centric care, expansion of distribution channels, focus on improving quality of life, focus on developing targeted drug delivery systems, and discovery of biomarkers. Major trends in the forecast period include adoption of value-based reimbursement models, integration of artificial intelligence and machine learning technologies, adoption of telehealth and remote monitoring technologies, neurostimulation techniques, and regenerative medicine approaches.
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Scope Of Muscle Spasticity Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Muscle Spasticity Market Overview
Market Drivers –
The increasing prevalence of musculoskeletal disorders is expected to drive the muscle spasticity market going forward. Musculoskeletal disorders refer to conditions affecting the muscles, bones, and joints of the body, often causing pain, stiffness, and impaired movement. The rise in musculoskeletal cases is attributed to factors such as aging populations, sedentary lifestyles, and the increasing prevalence of chronic conditions. Muscle spasticity aims to alleviate symptoms of musculoskeletal disorders by reducing pain, improving mobility, preventing complications, and enhancing patients’ overall quality of life and functional abilities. For instance, in November 2023, according to a study conducted by The Lancet, a UK-based medical journal, an estimated 494 million people globally experienced other musculoskeletal disorders in 2020, with projections indicating a potential 115% increase by 2050. Moreover, in May 2022, according to Amgen, a US-based biopharmaceutical company, the annual number of fractures due to osteoporosis is expected to increase by 68% from 1.9 million in 2018 to 3.2 million by 2040. Therefore, the increasing prevalence of musculoskeletal disorders is driving the muscle spasticity market.
Market Trends –
Major companies operating in the muscle spasticity market are focusing on developing oral suspensions to treat muscle spasms associated with conditions such as multiple sclerosis and spinal cord injuries. Oral suspensions are liquid medications with dispersed active ingredients taken by mouth. For instance, in April 2024, ANI Pharmaceuticals, a US-based pharmaceutical manufacturing company, launched baclofen oral suspension. Baclofen oral suspension, a generic version of fleqsuvy is used to treat muscle spasms caused by conditions such as multiple sclerosis and spinal cord injuries by helping to relax the muscles.
The muscle spasticity market covered in this report is segmented –
1) By Drug Type: Baclofen, Botulinum Toxin, Diazepam, Dantrolene Sodium, Other Drugs
2) By Route Of Administration: Oral, Intramuscular, Other Routes
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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Regional Insights –
North America was the largest region in the muscle spasticity market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the muscle spasticity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the muscle spasticity market are F. Hoffmann-La Roche AG, AbbVie Inc., Abbott Laboratories, Novartis AG, Medtronic plc, Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, Sun Pharmaceutical Industries Ltd., Ipsen Pharma, Hikma Pharmaceuticals plc, Endo Pharmaceuticals Inc., Lupin Pharmaceuticals Inc., Amneal Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals, Neurocrine Biosciences Inc., Merz Pharmaceuticals GmbH, Beximco Pharmaceuticals Ltd., ANI Pharmaceuticals Inc., Taj Pharmaceuticals Limited, Revance Therapeutics Inc., Acorda Therapeutics Inc., Mylan N.V., Camber Pharmaceuticals Inc., Saol Therapeutics Inc., Zydus Cadila
Table of Contents
1. Executive Summary
2. Muscle Spasticity Market Characteristics
3. Muscle Spasticity Market Trends And Strategies
4. Muscle Spasticity Market – Macro Economic Scenario
5. Global Muscle Spasticity Market Size and Growth
…
32. Global Muscle Spasticity Market Competitive Benchmarking
33. Global Muscle Spasticity Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Muscle Spasticity Market
35. Muscle Spasticity Market Future Outlook and Potential Analysis
36. Appendix
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