Muscle Relaxant Drugs Market 2024 - By Size, Consumption Analysis, Business Overview And Upcoming Trends 2033

The muscle relaxant drugs market size has grown strongly in recent years. It will grow from $4.46 billion in 2023 to $4.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to shift in treatment approaches, chronic pain management, pharmaceutical innovation in drug formulations, rise in surgical procedures, expansion in physical rehabilitation practices.

The muscle relaxant drugs market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to multidisciplinary pain management approaches, aging population and chronic conditions, research in targeted therapies, focus on non-pharmacological pain relief, advancements in pain management therapies. Major trends in the forecast period include advancements in side effect profiles, personalized medicine approach, research in alternative therapies, integration of muscle relaxants in pain management protocols, advent of botulinum toxin injections.

Market Overview -
Muscle relaxants are medications that are used to treat muscle spasms caused by neurological conditions. These are used for treating muscle pains.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8751&type=smp

Muscle Relaxant Drugs Market Thrives On The Surge In Geriatric Population Globally
The rising geriatric population is expected to propel the growth of the muscle relaxant drugs market going forward. The geriatric population refers to older adults 65 years and beyond. Muscle relaxant drugs are used for sedating and reducing the pain of the geriatric population who are more likely to suffer from musculoskeletal disorders. For instance, in October 2022, according to the World Health Organization, a Switzerland-based international public health organization, the global population of individuals aged 60 years is projected to increase to 1.4 billion by 2022 compared to 1 billion in 2020. Moreover, 1 out of 6 people in the world will be aged more than 60 years or older by 2030. Therefore, the rising geriatric population is driving the growth of the muscle relaxant drugs market.

Competitive Landscape -
Major companies operating in the muscle relaxant drugs market report are Pfizer Inc., Ipsen Pharma SA, Teijin Limited, Par Pharmaceutical Companies Inc., Orient Phaarma Co. Ltd., Novartis AG, Accord Healthcare Ltd., Amneal Pharmaceuticals LLC, Fresenius Kabi India Pvt. Ltd., Aurobindo Pharma Ltd., Mylan NV, Hikma Pharmaceuticals plc, Lupin Chemicals Ltd., Akorn Incorporated, Merck & Co. Inc., Teva Pharmaceuticals Industries Ltd., Lifesciences Limited, Neurana Pharmaceuticals Inc., Dr. Reddy's Laboratories, Lannett Company Inc., Unichem Laboratories, SteriMax Inc., Endo Pharmaceuticals Inc., Abbvie Inc., Merz Pharmaceuticals LLC, Vertical Pharmaceuticals LLC, Mallinckrodt Pharmaceuticals, Eisai Co. Ltd., Metacel Pharmaceuticals LLC, Sun Pharmaceutical Industries Ltd., Cadila Healthcare Ltd., Torrent Pharmaceuticals Ltd., Alembic Pharmaceuticals Ltd., Wockhardt Ltd., Glenmark Pharmaceuticals Ltd., Cipla Ltd., Lupin Ltd., Intas Pharmaceuticals Ltd., Alkem Laboratories Ltd.

Innovative Muscle Relaxant With Flexible Dosage, Demonstrating Market Trends
Product innovations are the key trend gaining popularity in the muscle relaxant drug market going forward. Major companies operating in the market are developing innovative drugs for specific medical applications, such as generic versions of muscle relaxant drugs, muscle relaxants for animals, drugs that provide flexible, customized dosing, and others, to sustain their position in the market. For instance, in June 2022, Amneal Pharmaceuticals Inc., a US-based integrated specialty pharmaceutical company, launched LYVISPAH, a baclofen oral granule (5, 10, and 20 mg) specialty product approved by the US Food and Drug Administration for the treatment of spasticity associated with multiple sclerosis and other spinal cord disorders. LYVISPAHI offers flexible, customized dosing with 5 mg, 10 mg, and 20 mg single-dose packets of granules that are used in treating muscle stiffness, spasms, and pain from multiple sclerosis. The rapidly dissolving flavored granules offer an alternative for patients with spasticity who also have difficulty swallowing pills. The product can be administered in three ways: directly into the patient's mouth with or without water, mixed with liquids or foods, or through an enteral feeding tube.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/muscle-relaxant-drugs-global-market-report

Key Segments -
The muscle relaxant drugs market covered in this report is segmented -
1) By Drug Type: Facial Muscle Relaxant Drugs, Skeletal Muscle Relaxant Drugs, Neuromuscular Blocking Agents
2) By Formulation: Cyclobenzaprine, Carisoprodol, Chlorzoxazone, Metaxalone, Methocarbamol, Baclofen, Tizanidine, Orphenadrine, Dantrolene
3) By Route of Administration: Oral, Injectable, Spray, Ointment
4) By End-User: Hospitals, Homecare, Speciality Clinics, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.