Technavio’s latest report on the global muscle relaxant drugs marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global muscle relaxant drugs market from 2017-2021. (Graphic: Business Wire)
The research study by Technavio on the global muscle relaxant drugs market for 2017-2021 provides a detailed industry analysis based on the product category (skeletal muscle relaxant drugs and facial muscle relaxant drugs) and geography (the Americas, EMEA, and APAC).
The global muscle relaxant drugs market size is projected to reach USD 1,284.34 million by 2021, growing at a CAGR of close to 6% over the forecast period. APAC will be the fastest growing regional segment of the market, driven by the increasing number of individuals opting for muscle spasticity treatments and adoption of facial relaxants.
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The top three emerging trends driving the global muscle relaxant drugs market according to Technavio healthcare and life sciences research analysts are:
Anti-aging treatments driving adoption of facial relaxants
“The demand for anti-aging treatments by the large baby boomer population is expected to drive the demand for facial muscle relaxants. These individuals seek to target wrinkles, which is considered to be the most prominent sign of aging,” says Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research.
Currently, out of the total population in the world, those aged above 65 years form the fastest-growing population group, accounting for 8.1% of the total population (2014 figures). The rise in this age group is expected to drive the demand for facial muscle relaxants, thereby driving the growth of the market.
Advanced drug delivery technologies fuels adoption of muscle relaxants
There is an increasing demand for muscle relaxants such as baclofen, with the rise in demand for intrathecal pumps. These pumps are used for targeted drug delivery to administer pain medication directly to the spinal cord to provide immediate relief. The intrathecal baclofen pump is a surgically implanted system used to reduce spasticity symptoms and lower the side effects caused by oral spasticity medications. Additionally, new collaborations to come up with innovative Baclofen therapies will boost the growth of the muscle relaxant drugs market.
Growing use of muscle relaxants in new indications and applications
“The expansive research being carried out on muscle relaxants is leading to its increasing adoption in new indications and applications. The use of muscle relaxants such as FLEXERIL and Norflex are gaining traction in the treatment of fibromyalgia,” says Sapna.
In addition, muscle relaxants are increasingly finding utility in treating used in sports-related injuries such as muscle strains and cramps. Therefore, the increasing adoption of these drugs in new indications and applications is likely to drive the growth of the market.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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Last updated on: 20/03/2017
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