Muscle Spasticity Market is Estimated to Witness High Growth Owing to Increasing Incidence of Spinal Cord Injuries

Muscle spasticity is a condition that causes muscles to tighten or contract uncontrollably. This can occur when nerves that control voluntary movement become damaged as a result of injuries to the brain or spinal cord. Muscle spasticity is commonly seen in conditions such as multiple sclerosis, cerebral palsy, brain or spinal cord injuries, and strokes. Medications and other treatments are used to relieve muscle spasticity symptoms and improve quality of life.

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 Dynamics:
The muscle spasticity market is primarily driven by the increasing incidence of spinal cord injuries. Spinal cord injuries can result from trauma such as vehicle accidents, falls, or violence and often lead to varying degrees of muscle spasticity. According to the National Spinal Cord Injury Statistical Center, approximately 17,700 new spinal cord injury cases are reported each year in the United States. The economic and social burden associated with these injuries has fueled growth of the muscle spasticity therapeutics market. Additionally, rising investments towards novel drug development for effective spasticity management have positively impacted the market growth.

SWOT Analysis
Strength: Muscle Spasticity Market has a large patient pool suffering from conditions that cause muscle spasticity like multiple sclerosis and cerebral palsy. There is growing awareness about treatment options for managing muscle spasticity symptoms. Development of novel drugs and devices for muscle spasticity management provide improved clinical outcomes.

Weakness: High cost of advanced treatment options like Botulinum toxins injection limits their adoption in developing regions. Lack of FDA approved prescription drugs for long-term use raises safety and efficacy concerns.

Opportunity: Developing countries in Asia Pacific and Latin America with large patient populations present lucrative opportunities. Collaborations between device manufacturers and hospitals can boost the installation base of Neurostimulation devices. Emergence of digital health solutions and home care settings expands the access to treatment.

Threats: Stiff competition in the pharmaceutical segment pressures pricing and market share. Stringent regulatory approvals for new products can hamper timely market entry. Shift towards alternative medicines negatively impacts sales of conventional drugs.

Key Takeaways
The Global Muscle Spasticity Market Size is expected to witness high growth driven by increasing geriatric population and rising medical expenditures. North America currently dominates the market owing to high adoption of advanced treatment options and favorable reimbursements. However, Asia Pacific region is projected to grow at the fastest pace during the forecast period.

Regional analysis: The Muscle Spasticity market in Asia Pacific region is anticipated to grow rapidly over the next few years. Rapid economic development, huge patient pool, and improving healthcare infrastructure boosts the demand. China and India are fastest growing as well as most lucrative markets in the region.

Key players: 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. Blackmores Limited specializes in herbal medicines and offers products for managing spasticity symptoms. Vitaco Holdings provide fish oil nutritional supplements clinically proven for reducing muscle spasticity.

 

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