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2024 Global Muscle Relaxant Drugs Market Size, Share, Trends And Growth Analysis Report | Pfizer Inc., Ipsen Pharma SA, Teijin Limited, Par Pharmaceutical Companies Inc., Orient Phaarma Co. Ltd
Muscle Relaxant Drugs Global Market Report 2024
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Muscle Relaxant Drugs Market Report Structure
3. Muscle Relaxant Drugs Market Trends And Strategies
4. Muscle Relaxant Drugs Market - Macro Economic Scenario
5. Muscle Relaxant Drugs Market Size And Growth
…..
27. Muscle Relaxant Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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