Surging Geriatric Population Fueling Muscle Relaxant Drugs Market Boom

A number of factors such as the rising incidence of skin diseases, growing awareness about the harmful effects of ultraviolet (UV) radiation, increasing use of neuromuscular blocking agents in surgical procedures, mushrooming population of geriatric people, and soaring disposable income of people are driving the expansion of the global muscle relaxant drugs market. According to the observations of the market research company, P&S Intelligence, the market grew at a CAGR of 5.5% from 2015 to 2020.

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Because of the growing awareness about the importance of personal skin care and the increasing disposable income of people, the sales of muscle relaxant drugs are soaring. For instance, as per the National Bureau of Statistics of China, in China, the annual per capita disposable income of households in urban areas grew from $2,271 in 2008 to $3,408.5 in 2012. Additionally, the surging geriatric population is also positively impacting the worldwide growth of the market.

As per the United Nations Department of Economic and Social Affairs (UNDESA), the share of geriatric people in the global population surged from 9.2% to 11.7% from 1990 to 2013. This share is expected to rise even more and reach 21.1% by the end of 2050. As geriatric people are highly vulnerable to skin and musculoskeletal and skin ailments and chronic diseases, their ballooning population is fueling the requirement for muscle relaxant drugs.

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Between these, the botox sub-category dominated the market in the years gone by and it is expected to retain its market dominance in the coming years as well. Globally, North America held the largest share in the muscle relaxant drugs market during the past few years. This was because of the large-scale use of facial muscle relaxant drugs and the presence of a large geriatric population in the region. In the coming years, Asia is expected to be the fastest growing region in the market, on account of the increasing volume of surgeries and improving healthcare infrastructure in the region.

Hence, the sales of muscle relaxant drugs will shoot up in the coming years, mainly because of the growing incidence of skin problems and chronic diseases, soaring population of geriatric people, and increasing disposable income of people all over the world.

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This release was published on openPR.