Throughout the projected period, the prevalence of strokes, multiple sclerosis, and brain injuries is likely to fuel market expansion. Growing R&D for generating effective medicines, as well as advancements in the health care industry, are likely to fuel market expansion over the forecast period. COVID-19 has had a significant influence on the muscular spasticity market. The majority of the actions associated with the therapy of muscular spasticity have been postponed or discontinued. This extended cessation of activity may have exposed a large number of individuals to the repercussions of untreated spasticity. The lack of experienced specialists, the overall high cost of therapy, poor reimbursement, and a lack of illness awareness in emerging nations are the primary factors impeding the growth of the worldwide muscular spasticity market.
According to Coherent Market Insights, the global Muscle Spasticity Market is estimated to be valued at US$ 4,167.6 million in 2021 and is expected to exhibit a CAGR of 8.9% during the forecast period (2021-2028).
Top Companies in the Muscle Spasticity Industry:
1. Ipsen Pharma
Ipsen S.A. operates as a biopharmaceutical company worldwide. The company was founded in 1929 and is headquartered in Boulogne-Billancourt, France. The company provides drugs in the areas of oncology, neuroscience, gastroenterology, cognitive disorders, and rare diseases. On, August 01, 2016 Ipsen Biopharmaceuticals, Inc announced that the U.S. Food and Drug Administration (FDA) has approved its supplemental Biologics License Application for Dysport® for injection for the treatment of lower limb spasticity in pediatric patients two years of age and older.
2. Acorda Therapeutics, Inc.
Acorda Therapeutics, Inc., a biopharmaceutical company, develops and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Inbrija for the treatment of OFF periods in Parkinson's disease in Europe. The company has collaboration and license agreement with Biogen Inc. for the development and commercialization of Ampyra. Acorda Therapeutics, Inc. was incorporated in 1995 and is headquartered in Ardsley, New York.
3.Teva Pharmaceutical Industries Ltd.
Teva Pharmaceutical Industries Limited, a pharmaceutical company, develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. The company was founded in 1901 and is headquartered in Tel Aviv, Israel.
4. Novartis AG
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland.
5. Sun Pharmaceutical Industries Ltd.
Sun Pharmaceutical Industries Limited, a generic pharmaceutical company, develops, manufactures, and markets branded and generic formulations and active pharmaceutical ingredients (APIs) in India and internationally. The company was founded in 1983 and is based in Mumbai, India.
6. Beximco Pharmaceuticals Ltd.
Beximco Pharmaceuticals Limited manufactures and markets generic pharmaceutical formulation products and active pharmaceutical ingredients in Bangladesh. Beximco Pharmaceuticals Limited was incorporated in 1976 and is headquartered in Dhaka, Bangladesh. On July 2021, Beximco Pharmaceuticals got approval from the Food and Drug Authorisation (FDA) of the United States of America for one of their drugs Baclofen (10 and 25 mg tablets). It is a muscle relaxant drug used for the treatment of muscle pain, spasms, and stiffness in people with multiple sclerosis or spinal cord injury or disease.
7.Johnson & Johnson Private Limited
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey.
8. Zydus Cadila
Zydus Lifesciences Limited engages in the research, development, production, marketing, distribution, and sale of pharmaceutical products in India, the United States, Europe, Latin America, the Asia Pacific, and Africa. The company operates in Pharmaceuticals and Consumer Products segments. Zydus Lifesciences Limited was founded in 1952 and is based in Ahmedabad, India.
9. F. Hoffmann-La Roche Ltd.
Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Switzerland, Germany, the United States, and internationally. It has a research collaboration agreement with Synlogic, Inc. for the discovery of a novel synthetic biotic for the treatment of inflammatory bowel disease (IBD). Roche Holding AG was founded in 1896 and is headquartered in Basel, Switzerland.
10. Elite Pharmaceuticals Inc.
Elite Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the development and manufacture of oral, controlled-release products and generic pharmaceuticals. The company operates in two segments, Abbreviated New Drug Applications for Generic Products and New Drug Applications for Branded Products. The company was incorporated in 1997 and is headquartered in Northvale, New Jersey.
*Definition- Muscle spasticity is a disorder that causes muscles to contract, stiffen, or spasm involuntarily. Muscles contract, making stretching, walking, moving, and talking difficult. Spasticity is caused by injury to the parts of the brain and spinal cord responsible for stretch reflexes and muscle control.
