Muscle Relaxant Drugs Market to Expand At A CAGR of 7.6% between 2019 and 2025 – ZMR
Zion Market Research has published a new report titled “Muscle Relaxant Drugs Market By Drug Type (Facial Muscle Relaxant Drugs, Skeletal Muscle Relaxant Drugs, and Neuromuscular Blocking Agents) and By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy): Global Market Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global muscle relaxant drugs market was valued at USD 3,479 million in 2018 and is expected to generate around USD 5,815 million by 2025, at a CAGR of 7.6% between 2019 and 2025.
Muscle relaxing medications are mainly used along with general anesthesia to ensure muscle relaxation during surgeries. They are further used for treating muscle spasms and spastic neurological diseases alongside myofascial pain syndrome, cerebral palsy, multiple sclerosis, fibromyalgia, etc.
The muscle relaxant drugs market is currently being driven by the ever-increasing popularization of anti-aging medicines among the global population and the rising trend of spas and salons. Increasing geriatric population, approval of fresh label signs, rising skin-related issues, and escalating surgeries performed worldwide are other main factors boosting the development of the market for muscle relaxant drugs market. However, some serious side-effects linked to use of muscle relaxing drugs, such as respiratory arrest and habituations, are likely to limit the worldwide expansion of the muscle relaxant drugs market.
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The muscle relaxant drugs market is fragmented based on drug type and distribution channel. By drug type, the market is divided into facial muscle relaxant drugs, neuromuscular blocking agents, and skeletal muscle relaxant drugs. Skeletal muscle relaxant drugs dominated the muscle relaxant drugs market and accounted for more than 50% of the global market in 2018. This can be due to the presence of a large patient pool with musculoskeletal disorders and consistent drugs development for treating niche indications, such as upper limb and lower limb spasticity. Alternatively, facial muscle relaxants are projected to witness a growth rate of 7.2% in the years ahead, owing to the escalating cosmetic surgery numbers. Additionally, the increasing neuromuscular blocking agents usage in general surgeries will drive the neuromuscular blocking agents segment’s growth.
Based on the distribution channel, the market for muscle relaxant drugs includes hospitals pharmacy, online pharmacy, and retail pharmacy. In recent times, there has been a tremendous shift in patients preferring prescription drugs over over-the-counter drugs, due to the growing awareness regarding new disease reversal treatment options. The hospital pharmacy will dominate the market, owing to the accelerating number of hospital and clinical consultations.
North America accounted for a major share of the muscle relaxant drugs market in 2018 and is likely to remain dominant over the forecast time period. This regional dominance can be attributed to the growing number of new drug applications in North America and the regional presence of a large number of renowned companies. Europe held the second spot in the market for muscle relaxant drugs. The Asia Pacific is expected to register a high CAGR in the muscle relaxant drugs market globally over the estimated time period, owing to the growing base of the aging population in countries like Japan.
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Some main players in the muscle relaxant drugs market are Medtronic, Mallinckrodt, Vertical Pharmaceuticals, Abbott Laboratories, Par Sterile Products, Johnson & Johnson, SteriMax, and Endo Pharmaceuticals.
- CDN Newswire