Global Muscle Spasticity Market, by Drug Type (Baclofen, Botulinum Toxin, Diazepam, Tizanidine, Dantrolene Sodium, and Others), by Route of Administration (Oral, Intramuscular, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,167.6 Mn in 2021 and is expected to exhibit a CAGR of 8.9% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Increasing launches of new drugs and regulatory approvals for muscle spasticity drugs are expected to propel growth of the global muscle spasticity market over the forecast period. For instance, in July 2020, the U.S. Food and Drug Administration (FDA) approved Allergan PLC's Botox for expanded use in children with a muscle disorder. This product is owned by AbbVie Inc., an American biopharmaceutical company. The approval was based on results from phase 3 study that enrolled more than 300 children between 2-17 years old with lower limb spasticity due to cerebral palsy.
Global Muscle Spasticity Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 has reported to have almost 203 different symptoms between the time period, December 2019 and May 2020, ranging from rashes, peeling skin, muscle spasms, and digestive issues to hearing loss and tinnitus. COVID-19 has highly impacted the psychological and behavioral health of individuals, and as spasticity is affected by psychological and behavioral aspects, COVID-19 has increased the global muscle spasticity market. Anxiety, fear of infection, and poor sleep quality have triggered spasticity. Due to this, the demand for benzodiazepines also increased. Benzodiazepines are psychoactive drugs that are used for conditions such as anxiety, seizures, spasticity, and others.
Without jobs, people are finding it difficult to sustain their families’ well-being, which is putting enormous pressure on their mental and physical health. Therefore, the use of anti-depressant drugs like benzodiazepines has increased, driving the muscle spasticty market. Generic injectable benzodiazepine drugs are in high demand as they are more cost-effective. Generic drugs like midazolam, diazepam, and lorazepam are being prescribed for anxiety, insomnia, and seizures. All of these factors have caused a growth in the global muscle spasticity market.
Browse 29 Market Data Tables and 33 Figures spread through 192 Pages and in-depth TOC on “Global Muscle Spasticity Market”- Forecast to 2028, Global Muscle Spasticity Market, by Drug Type (Baclofen, Botulinum Toxin, Diazepam, Tizanidine, Dantrolene Sodium, and Others), by Route of Administration (Oral, Intramuscular, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing research to develop new treatment approaches is also expected to aid in the growth of the global muscle spasticity market over the forecast period. For instance, according to news provided by the Motorpharma Ltd company, in October 2020, MPH-220 was allowed for muscle relaxation in human and animal models. MPH-220 is being studied as a one-pill-per-day treatment approach having comparatively fewer side effects than other common spasticity treatments, which can cause temporary weakness, pain, and infections.
MPH-220 selectively inhibits skeletal muscle myosin causing no effect on the nervous system. Current muscle relaxants target the central nervous system (CNS) or act peripherally, whereas MPH-220 inhibits myosin directly.
Key Takeaways of the Global Muscle Spasticity Market: