Global Muscle Relaxant Drugs Market Key Insights
During the forecast period of 2023-2033, the global muscle relaxant drugs market is expected to reach an estimated value of ~USD 6 million by 2033, by expanding at a CAGR of ~7%. The market further generated a revenue of ~USD 3 million in the year 2022. Major key factors propelling the growth of muscle relaxant drugs market worldwide are growing number of cases of musculoskeletal condition all across the world, along with growing geriatric population.
Market Definition of Muscle Relaxant Drugs
A wide range of drugs called muscle relaxants are used to ease or lessen muscle tension. Some muscle relaxants that function in the brain or spinal cord to stop overexcited neural pathways include baclofen, methocarbamol, and tizanidine. Other muscle relaxants, such dantrolene and botulinum toxin, work by directly affecting the muscle. The main disorders that muscle relaxants are used to treat are spasticity brought on by cerebral palsy, multiple sclerosis, and stroke. Additionally, muscular spasms are typically transient and are associated with ailments including fibromyalgia, tension headaches, and low back discomfort. The prevalence of this condition is increasing, and crucial diagnostic techniques and treatments would spur market expansion.
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Global Muscle Relaxant Drugs Market: Growth Drivers
The growth of the global muscle relaxant drugs market can majorly be attributed to the increasing numbers of elderly people worldwide. The primary driver propelling the expansion of the market under study is the expanding elderly populations around the world, who are more susceptible to musculoskeletal disorders. In Great Britain, statistics on work-related musculoskeletal illnesses show that 470,000 people would experience new or recurrent musculoskeletal conditions at work in 2021. These circumstances are anticipated to deteriorate in the future, necessitate outside assistance, and quicken market expansion. According to a December 2021 article titled “Prevalence and variables associated with work-related musculoskeletal disorder among health care workers working in the operation room,” 64.2% of research participants had this condition. Thus, it is anticipated that there would be a rise in the demand for muscle relaxant medications as musculoskeletal problems become more prevalent. Additionally, it is anticipated that a growing number of product releases by important market participants would fuel market expansion. For instance, Succinylcholine Chloride Injection, USP 20 mg/ml was introduced by Hikma Pharmaceuticals in the United States in July 2021.
The global muscle relaxant drugs market is also estimated to grow majorly on account of the following:
- Growing sedentary lifestyle and decreasing activity levels
- Surge in the number of cases of osteoarthritis (OS)
- Rise in geriatric population
Global Muscle Relaxant Drugs Market: Restraining Factor
Muscle relaxants could have serious adverse effects such fatigue, vertigo, dry mouth, and depression. The utilisation, separation, and development of raw materials for the development of pharmaceutical and biopharmaceutical medications also requires skilled and qualified individuals due to the complexity of the process. Hence this factor is expected to be the major hindrance for the growth of the global muscle relaxant drugs market during the forecast period.
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Global Muscle Relaxant Drugs Market Segmentation
- By Therapeutic Group (Neuromuscular Blockers, and Spasmolytic)
By the end of 2033, it is expected that the neuromuscular blockers segment would generate the most revenue, supported by the rising global prevalence of neuromuscular disorders. The findings show that between 2019 and 2021, over 13 million persons per year in the UK were registered for neuromuscular diagnosis.
- By Formulation (Cyclobenzaprine, Carisoprodol, Chlorzoxazone, Metaxalone, and Others)
- By Route of Administration (Oral, Injectable, Spray, Ointment)
- By End-User (Hospital, Retail Pharmacy, and Online Pharmacy)
- By Region
The North America muscle relaxant drugs market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Growth in number of people working remotely, low physical activity and growing healthcare expenditure are some of the major factors estimated to boost the growth of the market in this region. The National Health Expenditures (NHE) report from the American Medical Association (AMA) estimates that by 2020, NHE would have climbed by 9.7% and would account for 19.7% of GDP.
The market research report on global muscle relaxant drugs also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
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Key Market Players Featured in the Global Muscle Relaxant Drugs Market
Some of the key players of the global muscle relaxant drugs market are Johnson & Johnson, AbbVie Inc., Sandoz International GmbH, Abbott Laboratories, Pfizer, Inc., Merck & Co., Inc., SteriMax Inc., Vertical Pharmaceuticals, LLC, Instas Pharmaceuticals Ltd., F. Hoffmann-La Roche Ltd, and others.
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