Press release
Muscle Relaxant Drugs Market Expected to Reach USD 6,057.60 Million by 2034, Growing at a CAGR of 4.1%
Muscle Relaxant Drugs Market
Market Explanation:
Muscle relaxants are medications that are utilized to prohibit and decrease muscle spasms and tightness. They take place when there is an unregulated shrinkage of a category of muscles. The muscles normally contract instantly. This is quite agonizing. Spasticity takes place when some muscles shrink tightly and then become hardened and stiffer to use. The majority of relaxant concoctions are obtainable as capsules, tablets, or liquids.
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Muscle relaxants function by bringing about the muscles to become less rigid or stiff which subsequently decreases pain and unease. Baclofen, diazepam, methocarbamol, and tizanidine act on the central nervous system, such as the brain and spinal cord. Dantrolene operates instantly on muscle spasm relief. As dantrolene functions only on the muscles, it is contemplated to possess lesser muscle relaxant drug side effects as compared to other muscle relaxants.
Market Growth Drivers:
Growing Elderly Population: The aging global population is creating new challenges for healthcare systems, especially in handling musculoskeletal well-being. Aged people are more liable to conditions such as osteoarthritis and lower back pain, which make everyday ventures arduous. To mitigate pain and enhance movability, there is a growing inclination towards relaxant medicines having a favorable impact on muscle relaxant drug market sales.
Economic Burden of Musculoskeletal Illnesses: Musculoskeletal illnesses not only impact a person's well-being but also inflict a notable economic load on societies. In the US, for instance, the yearly price for the treatment and lost stipends connected to MSDs was approximated at USD 213 million reckoning for 1.4% of the nation's gross domestic product. These statistics circumscribe direct medical disbursements and indirect prices, such as lost productivity due to impairment.
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Competitive Landscape:
Actively working to develop innovative and effective treatments for musculoskeletal disorders, the top market players allocate substantial resources to comprehensive research and development initiatives. Key companies are mentioned below:
• Abbott Laboratories
• Acorda Therapeutics, Inc.
• Ipsen Biopharmaceuticals, Inc.
• Lannett Company, Inc.
• Merck & Co., Inc.
• Neurana Pharmaceuticals, Inc.
• Pfizer Inc.
• Sandoz International GmbH
• Teva Pharmaceutical Industries Ltd.
• Unichem Laboratories Ltd.
• Zydus Group
Muscle Relaxant Drugs Industry Developments
• June 2024: The FDA granted fast-track designation to Tonmya (cyclobenzaprine HCl) for the treatment of fibromyalgia, following promising results from the Phase 3 RESILIENT study, which demonstrated significant pain reduction compared to a placebo.
• June 2022: Amneal's LYVISPAH (baclofen) oral granules were approved by the FDA for treating spasticity related to multiple sclerosis and spinal cord disorders. The formulation provides flexible dosing, offering an alternative for patients who have difficulty swallowing.
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Regional Outlook:
Regional augmentation policies in the muscle relaxant drugs market are also important, with firms targeting emerging markets to benefit from the growing demand.
North America remains a dominant force supported by the region's advanced healthcare framework, heightened existence of musculoskeletal illnesses, and substantial funding in research and development.
Europe is witnessing steady growth, fuelled by an aging population and a heightened prevalence of musculoskeletal illnesses.
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Segmental Division:
By Drug Type Outlook (Revenue-USD Million, 2020-2034)
• Skeletal Muscle Relaxant Drugs
• Facial Muscle Relaxant Drugs
• Neuromuscular Blocking Agents
By Route of Administration Outlook (Revenue-USD Million, 2020-2034)
• Oral
• Injectable
By Distribution Channel Outlook (Revenue-USD Million, 2020-2034)
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
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Muscle Relaxant Drugs Market: A Much-Needed Relaxation to Muscle Functionality:
http://www.polarismarketresearch.com/blog/muscle-relaxant-drugs-market-share
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