The neuromuscular blocking drug 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.
Neuromuscular Blocking Drug 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 neuromuscular blocking drug market size has increased by grown strongly in recent years. It will grow from $3.68 billion in 2023 to $3.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to increased prevalence of conditions, increased awareness and training, increased healthcare spending, improved drug reversibility, and rise emphasis on patient safety.
The neuromuscular blocking drug market size is expected to see strong growth in the next few years. It will grow to $4.75 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to regulatory approvals, growth in outpatient and day surgeries, the expansion of medical tourism and strategic alliances, the growing prevalence of musculoskeletal disorders, and the increasing prevalence of surgical procedures. Major trends in the forecast period include the development of non-sedative formulations, the development of new NMBDs, advances in personalized medicine, the development of combination therapies, and patient-centric drug development.
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Scope Of Neuromuscular Blocking Drug 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.
Neuromuscular Blocking Drug Market Overview
Market Drivers –
The increasing number of surgical procedures is expected to propel the growth of the neuromuscular blocking drug market going forward. Surgical procedures are medical operations involving incisions, excisions, or other techniques to treat injuries, diseases, or conditions. The increasing number of surgical procedures is due to improved diagnostic tools, greater access to healthcare, a focus on the quality of life, and rising patient awareness and expectations. Neuromuscular blocking drugs are used in surgical procedures to induce muscle relaxation and facilitate various aspects of the operation. For instance, in September 2023, according to a report published by the American Society of Plastic Surgeons, a US-based professional society, in 2022, a total of 26.2 million surgical and minimally invasive cosmetic and reconstructive procedures were carried out in the United States. Therefore, the increasing prevalence of surgical procedures drives the growth of the neuromuscular blocking drug market.
Market Trends –
Major companies operating in the neuromuscular blocking drug market focus on broadening their product offerings through strategic collaborations to expand their market reach and drive innovation in drug formulations and delivery methods. Strategic collaborations involve partnerships between companies to share resources and expertise, enhancing product development and market reach. For instance, in May 2022, BDR Pharma, an India-based pharmaceutical company, partnered with Varenyam Healthcare, an India-based certified pharmaceutical manufacturing company, to launch Sugmadex, a pioneering anesthesia drug that offers safe, rapid, and complete reversal of shallow, moderate, and deep neuromuscular block (NMB), effectively removing the anesthesia effect on the body. Unlike existing agents, Sugmadex effectively addresses profound NMB and reduces post-operative respiratory complications. Available in 2 ml and 5 ml single-dose vials, Sugmadex promises enhanced efficiency and patient safety, improving recovery rates.
The neuromuscular blocking drug market covered in this report is segmented –
1) By Type: Non-Polarizing Agents, Depolarizing Agents
2) By Application: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others Applications
3) By End-Users: Hospitals, Homecare, Specialty Clinics, Other End-Users
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Regional Insights –
North America was the largest region in the neuromuscular blocking drug market in 2023. The regions covered in the neuromuscular blocking drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the neuromuscular blocking drug market are Pfizer Inc., Merck & Co Inc., AbbVie Inc., Bayer AG, Fresenius Kabi AG, AstraZeneca PLC, Novartis AG, GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Limited, Baxter International Inc., Astellas Pharma Inc., Daiichi Sankyo Company Limited, UCB Pharma S.A., Eisai Co Ltd., Ipsen S.A., B. Braun Melsungen AG, Aurobindo Pharma Limited, Hikma Pharmaceuticals PLC, Mallinckrodt Pharmaceuticals plc, Mylan N.V., Nippon Shinyaku Co Ltd., Sagent Pharmaceuticals Inc., Osmosis Inc., Cadila Healthcare Limited
Table of Contents
1. Executive Summary
2. Neuromuscular Blocking Drug Market Report Structure
3. Neuromuscular Blocking Drug Market Trends And Strategies
4. Neuromuscular Blocking Drug Market – Macro Economic Scenario
5. Neuromuscular Blocking Drug Market Size And Growth
…..
27. Neuromuscular Blocking Drug Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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