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Technavio’s market research analyst predicts the global muscle relaxant drugs market to grow steadily at a CAGR of around 6% by 2021. One of the primary drivers for this market is the presence of a large patient pool willing to adopt muscle relaxant drugs. This has compelled the manufacturers on developing drugs for the treatment of niche indications such as upper limb and lower limb spasticity. For instance, in April 2015, Allergan received expanded label indication for BOTOX for the treatment of adults with upper limb spasticity. Also, the exponential rise in the cases of multiple sclerosis and fibromyalgia will increase the demand for muscle relaxants drugs, which in turn will propel growth in the global muscle relaxant drugs market in the coming years.
One of the latest trends gaining traction in this market is the growing popularity of anti-aging treatments among the population. It has been observed that individuals are more focused on drugs that target specific problems caused by aging such as wrinkles, which require facial muscle relaxants for the treatment. Consumers, especially the older population, are looking for products to maintain and improve their appearance. Moreover, the rise in the aging population is expected to drive the demand for muscle relaxant drug market during the forecast period.
The global muscle relaxant drugs market is highly fragmented due to the presence of multiple established international and regional players. Vendors compete primarily on the basis of pricing and new indications. Also, the development of drugs for the treatment of growing spasticity disorders and wrinkles will increase the competition among vendors in the next four years.
Leading vendors in the market are
During 2016, the skeletal muscle relaxant drugs dominated the muscle relaxant drugs market and accounted for a major part of the overall market share the dominant position of this segment is attributed to the availability of a wide range of drugs for the treatment of spasticity and spasms. Also, the increasing incidence of musculoskeletal disorders such as multiple sclerosis is contributing further to the growth of this segment.
In this market study, analysts have estimated the Americas to dominate the muscle relaxant drugs market during the forecast period. Factors such as the increased demand for anti-aging treatments and the approvals of new label indications are the major contributors to the growth of the muscle relaxant drugs market in the Americas.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: An overview of muscle spasticity and spasms
PART 06: Pipeline landscape
PART 07: Market landscape
PART 08: Market segmentation by product category
PART 09: Geographical segmentation
PART 10: Decision framework
PART 11: Drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
Tags: muscle spasms, muscle pain, pulse oximeter, nervous system disorders, healthcare market analysis, medical devices market share,
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