Overview and Scope
Muscle relaxants are medications that are used to treat muscle spasms caused by neurological conditions. These are used for treating muscle pains.
Sizing and Forecast
The muscle relaxant drugs market size has grown strongly in recent years. It will grow from $4.46 billion in 2023 to $4.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to shift in treatment approaches, chronic pain management, pharmaceutical innovation in drug formulations, rise in surgical procedures, expansion in physical rehabilitation practices..
The muscle relaxant drugs market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to multidisciplinary pain management approaches, aging population and chronic conditions, research in targeted therapies, focus on non-pharmacological pain relief, advancements in pain management therapies.. Major trends in the forecast period include advancements in side effect profiles, personalized medicine approach, research in alternative therapies, integration of muscle relaxants in pain management protocols, advent of botulinum toxin injections..
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Segmentation & Regional Insights
The muscle relaxant drugs market covered in this report is segmented –
1) By Drug Type: Facial Muscle Relaxant Drugs, Skeletal Muscle Relaxant Drugs, Neuromuscular Blocking Agents
2) By Formulation: Cyclobenzaprine, Carisoprodol, Chlorzoxazone, Metaxalone, Methocarbamol, Baclofen, Tizanidine, Orphenadrine, Dantrolene
3) By Route of Administration: Oral, Injectable, Spray, Ointment
4) By End-User: Hospitals, Homecare, Speciality Clinics, Other End-Users
North America was the largest region in the muscle relaxant drugs market share in 2023. The regions covered in the muscle relaxant drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising geriatric population is expected to propel the growth of the muscle relaxant drugs market going forward. The geriatric population refers to older adults 65 years and beyond. Muscle relaxant drugs are used for sedating and reducing the pain of the geriatric population who are more likely to suffer from musculoskeletal disorders. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the rising geriatric population is driving the growth of the muscle relaxant drugs market.
Key Industry Players
Major companies operating in the muscle relaxant drugs market report are Pfizer Inc., Ipsen Pharma SA, Teijin Limited, Par Pharmaceutical Companies Inc., Orient Phaarma Co. Ltd., Novartis AG, Accord Healthcare Ltd., Amneal Pharmaceuticals LLC, Fresenius Kabi India Pvt. Ltd., Aurobindo Pharma Ltd., Mylan NV, Hikma Pharmaceuticals plc, Lupin Chemicals Ltd., Akorn Incorporated, Merck & Co. Inc., Teva Pharmaceuticals Industries Ltd., Lifesciences Limited, Neurana Pharmaceuticals Inc., Dr. Reddy’s Laboratories, Lannett Company Inc., Unichem Laboratories, SteriMax Inc., Endo Pharmaceuticals Inc., Abbvie Inc., Merz Pharmaceuticals LLC, Vertical Pharmaceuticals LLC, Mallinckrodt Pharmaceuticals, Eisai Co. Ltd., Metacel Pharmaceuticals LLC, Sun Pharmaceutical Industries Ltd., Cadila Healthcare Ltd., Torrent Pharmaceuticals Ltd., Alembic Pharmaceuticals Ltd., Wockhardt Ltd., Glenmark Pharmaceuticals Ltd., Cipla Ltd., Lupin Ltd., Intas Pharmaceuticals Ltd., Alkem Laboratories Ltd.
The muscle relaxant drugs market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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