Muscle relaxant drugs are used to treat painful muscle spasms such as a headache, stiff neck, or backache. Both OTC and prescription muscle relaxants are available in the market and are being used by consumers suffering from muscle-related problems. Norflex, Zanaflex, Cip-Zox, Soma, Fexmid, and Robaxin are some common relaxants available in the market. Apart from this, the global muscle relaxant drugs market reached a market valuation of USD XX.X Million in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
Market Insights
Growth Drivers – Muscle Relaxant Drugs Market
Strong Prevalence of Muscle Related Health Issues
About 80 percent of adults experience low back pain at some point in their lifetimes. Muscle related issues can affect people of all ages, from adolescents to the elderly. Muscle pain caused in several conditions such as sprain ligaments, strain muscles, rupture disks, and irritate joints, all of these can lead to back pain. Such muscle pain issues are rising at horrifying pace among consumers, and this can be attributed to their fast, competitive, and unhealthy lifestyle. Arthritis, poor posture, obesity, and psychological stress are several other reasons, which are very common these days, which are causing muscle pain in people. Further, this strong growth in penetration of muscle pain issues across the globe is likely to foster the demand for muscle relaxant drugs around the world.
Growing Geriatric Population
Muscle pain is widespread in older adults. Older people suffer from many conditions such as polymyalgia rheumatic through their aging period, which causes muscle pain and stiffness in the upper arms, shoulders, thighs, and pelvic girdle. Furthermore, the world’s older population continues to grow at an unprecedented rate, and currently, 9 percent of people worldwide are aged 65 and over. As the world’s older population continues to grow at an unprecedented rate, it is expected that the demand for muscle relaxant drugs will rise in coming years.
Barriers – Muscle Relaxant Drugs Market
Miss conceptions among the population and chances of severe side effects such as habituation and respiratory arrest due to the consumption of muscle relaxant drugs are significant barriers in the growth of global muscle relaxant drugs market. Also, the abuse potential of muscle relaxant drugs is another challenge confronting the growth of global muscle relaxant drugs market.
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Segmentation Analysis
The muscle relaxant drugs market is segmented in different categories, including by drug type, by route of administration, by drug class and by retail sales channel. The market is segmented by drug type into facial muscle relaxant, skeletal muscle relaxant and neuromuscular relaxant. Among this segment, the skeletal muscle relaxant drug segment is expected to capture significant shares of the market in 2018. Global muscle relaxant drugs product segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Moreover, based on the route of administration, the muscle relaxant drugs market is further sub-segmented into oral and injectable segments. The oral muscle relaxant drugs dominated the market with a leading share of XX% in 2018 and is poised to continue this dominance in coming years to reach at XX% by 2024. Apart from above to segment, the report is also fractioned into drug class (peripherally acting muscle relaxants and centrally acting muscle relaxants) and retail sales channel (Drug Stores, Hospitals, Clinics, Online Stores) segments.
Geographical Analysis
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to muscle relaxant drugs market, North America is the leader in Muscle Relaxant Drugs market. 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.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global 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. and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Segmentation
By Drug Type
- Facial Muscle Relaxant
- Skeletal Muscle Relaxant
- Neuromuscular Relaxant
By Route of Administration:
- Oral
- Injectable
By Drug Class
- Peripherally Acting Muscle Relaxants
- Centrally Acting Muscle Relaxants
By Retail Sales Channel
- Drug Stores
- Hospitals
- Clinics
- Online Stores
By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players 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.
- Other Major & Niche Players
The study also provides a company’s positioning and market share in Muscle Relaxant Drugs market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
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 analyzes the global muscle relaxant drugs market by the following segments:
- Drug Type
- Route of Administration
- Drug Class
- Retail Sales Channel
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Muscle Relaxant Drugs Industry Report
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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