Muscle Relaxant Drugs Market to Surpass USD 1.6 Billion by 2024, Fostered by Growing Prevalence of Muscle Related Health Issues
According to a new report published by FAST.MR, titled, “Muscle Relaxant Drugs Market” witnessed a market value of USD XXX billion in 2018 and is considered to surpass USD 1.6 billion by 2024, recording a compound annual growth rate (CAGR) of 6.2% between 2019 and 2024. The muscle relaxant drugs market is analysed based on regions, by drug type, by route of administration, by drug class and by retail sales channel. The regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The research report also includes detailed competitive analysis of dominant market players in muscle relaxant drugs market, such as Johnson & Johnson, Abbott Laboratories, Medtronic Inc., Pfizer, Novartis International AG, Cipla Limited, Mallinckrodt plc, Par Pharmaceutical, Inc., Endo Pharmaceuticals, Inc., Orient Pharma Co., Ltd.
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Based on the drug type, the market has been classified facial muscle relaxant, skeletal muscle relaxant, neuromuscular relaxant. In the drug type segment, skeletal muscle relaxant segment contributed around XX% market share of the muscle relaxant drugs market in 2018. Rising prevalence of lower back pain in population of each age categories is encouraging the demand for skeletal muscle relaxant drugs across the globe. However, the chances of adverse effects by consuming skeletal muscle relaxant is a major challenge to the growth of this segment.
The route of administration segment includes oral, and injectable muscle relaxant drugs. Oral muscle relaxant drugs segment was valued at USD XX million in 2018 and is expected to reach USD XX Million by 2024, progressing at a CAGR of XX% from 2019 to 2024. Based on the retail sales channel, the market is categorized into drug stores, hospitals, clinics, and online stores. At present, drug stores segment represents XX% of the total muscle relaxant drugs market. The report is also bifurcated on the basis of drug class into peripherally acting muscle relaxants, and centrally acting muscle relaxants. Among which, peripherally acting muscle relaxant drug segment captured XX% shares of the global muscle relaxant drugs market in 2018.
Region-wise, the market has been segmented into Europe, Asia Pacific, North America, the Middle East & Africa, and Latin America. The North America region has acquired significant market shares and is poised to continue its dominance in the coming years. One-half of all working Americans admit to having back pain symptoms each year and low-back pain costs Americans at least $50 billion in health care costs each year. This strong prevalence of muscle related diseases in America is likely to allow this region to retain its leading position in coming years.
The competitive landscape of the market has been examined in the report. Some of the key players operating in the market include Johnson & Johnson, Abbott Laboratories, Medtronic Inc., Pfizer, Novartis International AG, Cipla Limited, Mallinckrodt plc, Par Pharmaceutical, Inc., Endo Pharmaceuticals, Inc., Orient Pharma Co., Ltd. and others prominent players.
Research Scope and Deliverables:
- Research Methodology & Executive Summary
- Market Drivers, Trends, Barriers and Opportunities
- Market Size and Forecast Projections
- Competitive Analysis
- Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
- Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
- Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the muscle relaxant drugs market by the following segments:
- Drug Type
- Route of Administration
- Drug Class
- Retail Sales Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the further breakdown of market data and analysis of region into countries is covered in the report.
FAST.MR is a global market research and business-consulting organization that aims to provide a deep market insight to our clients, which helps them in better decision making in the dynamic environment. We have a team of highly qualified personnel that studies the market in depth to provide our clients with better strategies to stand out in the market.
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