by Muscle spasticity refers to an abnormal increase in muscle tone or stiffness and a resistance to movement in muscles. It is a common symptom of cerebral palsy, multiple sclerosis, spinal cord injuries, stroke or traumatic brain injuries affecting mobility or daily activities. Spasticity management products such as botulinum toxins, baclofen, dantrolene sodium help relax the tightened muscles and reduce stiffness. With rising prevalence of conditions causing spasticity and growing awareness about available treatment options, more people are seeking effective management of symptoms associated with muscle spasticity.
The global Muscle Spasticity Market is estimated to be valued at US$ 4942.44 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing research and development in the field of spasticity treatments is one of the key factors driving market growth. Pharmaceutical companies are investing significantly in development of novel botulinum toxin injections and other long-acting medications to provide longer relief from spasticity symptoms with fewer injections. Ongoing clinical trials are evaluating effectiveness and safety of various therapies. With continuous innovations, more effective and long-lasting treatment options are expected to enter the market and help improve quality of life of patients suffering from spasticity.
SWOT Analysis
Strength: Muscle spasticity treatment market has a growing elderly population suffering from neurological disorders such as multiple sclerosis that drive the market growth.
Weakness: Presence of alternative treatment options hampers the growth of given market.
Opportunity: Development of innovative products and increasing research & development activities to develop new and improved drugs present opportunities for market players.
Threats: Patent expiries of blockbuster drugs limit the growth of pharmaceutical companies in the market.
Key Takeaways
The Global Muscle Spasticity Market Size is expected to witness high growth over the forecast period. The global Muscle Spasticity Market is estimated to be valued at US$ 4942.44 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to the large patient pool, increasing healthcare expenditure, and rising awareness.
Key players operating in the muscle spasticity market are Blackmores Limited, Vitaco Holdings Limited, Integria Healthcare, Bioglan, Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, and Sanderson. The key players are focusing on new product launches and expansion of manufacturing facilities to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
