Global Muscle Spasticity Market, by Drug Type (Baclofen, Botulinum Toxin, Diazepam, Tizanidine, Dantrolene Sodium, and Others), by Route of Administration (Oral, Intramuscular, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,167.6 Mn in 2021 and is expected to exhibit a CAGR of 8.9% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of new drugs and regulatory approvals for muscle spasticity drugs are expected to propel growth of the global muscle spasticity market over the forecast period. For instance, in July 2020, the U.S. Food and Drug Administration (FDA) approved Allergan PLC's Botox for expanded use in children with a muscle disorder. This product is owned by AbbVie Inc., an American biopharmaceutical company. The approval was based on results from phase 3 study that enrolled more than 300 children between 2-17 years old with lower limb spasticity due to cerebral palsy.
Global Muscle Spasticity Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 has reported to have almost 203 different symptoms between the time period, December 2019 and May 2020, ranging from rashes, peeling skin, muscle spasms, and digestive issues to hearing loss and tinnitus. COVID-19 has highly impacted the psychological and behavioral health of individuals, and as spasticity is affected by psychological and behavioral aspects, COVID-19 has increased the global muscle spasticity market. Anxiety, fear of infection, and poor sleep quality have triggered spasticity. Due to this, the demand for benzodiazepines also increased. Benzodiazepines are psychoactive drugs that are used for conditions such as anxiety, seizures, spasticity, and others.
Without jobs, people are finding it difficult to sustain their families’ well-being, which is putting enormous pressure on their mental and physical health. Therefore, the use of anti-depressant drugs like benzodiazepines has increased, driving the muscle spasticty market. Generic injectable benzodiazepine drugs are in high demand as they are more cost-effective. Generic drugs like midazolam, diazepam, and lorazepam are being prescribed for anxiety, insomnia, and seizures. All of these factors have caused a growth in the global muscle spasticity market.
Browse 29 Market Data Tables and 33 Figures spread through 192 Pages and in-depth TOC on “Global Muscle Spasticity Market”- Forecast to 2028, Global Muscle Spasticity Market, by Drug Type (Baclofen, Botulinum Toxin, Diazepam, Tizanidine, Dantrolene Sodium, and Others), by Route of Administration (Oral, Intramuscular, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Muscle Spasticity Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/muscle-spasticity-market-4827
Moreover, increasing research to develop new treatment approaches is also expected to aid in the growth of the global muscle spasticity market over the forecast period. For instance, according to news provided by the Motorpharma Ltd company, in October 2020, MPH-220 was allowed for muscle relaxation in human and animal models. MPH-220 is being studied as a one-pill-per-day treatment approach having comparatively fewer side effects than other common spasticity treatments, which can cause temporary weakness, pain, and infections.
MPH-220 selectively inhibits skeletal muscle myosin causing no effect on the nervous system. Current muscle relaxants target the central nervous system (CNS) or act peripherally, whereas MPH-220 inhibits myosin directly.
Key Takeaways of the Global Muscle Spasticity Market:
- The global muscle spasticity market is expected to exhibit a CAGR of 8.9% during the forecast period due to rising research and development collaboration by pharmaceutical companies, which is expected to boost the growth of the market. For instance, in March 2019, WeHealth, an e-health department of Servier Group, entered into a partnership with Pathmaker Neurosystems, a pioneering clinical-stage bioelectronic medicine company. The two companies revealed plans to develop and commercialize the first neuromodulation technology that will be designed to treat muscle spasticity non-invasively. This new technology will be called as MyoRegulator The new MyoRegulator PM-200 provides a non-invasive treatment option for patients suffering from muscle spasticity, a common condition found in many patients suffering from cerebral palsy, spinal cord injury, stroke, multiple sclerosis, and traumatic brain injury.
- Among drug type, baclofen segment is estimated to account for the largest market share in the global muscle spasticity market in 2021. For instance, in 2019, baclofen was the 125th most commonly prescribed medication in the U.S., with more than 5million prescriptions.
- Among regions, North America is estimated to account for the largest market share in the global muscle spasticity market in 2021. For instance, according to an article published in BMC Neurology, a peer reviewed journal that considers articles on all aspects of the prevention, diagnosis and management of neurological disorders, in October 2020, multiple sclerosis (MS) is a common disease of the central nervous system that affects approximately 2.5 million people worldwide and over 900,000 people in the U.S. Spasticity occurs in almost 60–80% of individuals with MS.
- Major players operating in the global muscle spasticity market include Ipsen Pharma, Allergan, Acorda Therapeutics, Inc., Merz Pharma, Teva Pharmaceutical Industries Ltd., Novartis AG, Sun Pharmaceutical Industries Ltd., Beximco Pharmaceuticals Ltd., Johnson & Johnson Private Limited, Zydus Cadila, F. Hoffmann-La Roche Ltd., and Elite Pharmaceuticals Inc.
