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The Global Spasticity Treatment Market size is estimated to grow by USD 1.61 billion at a CAGR of 5.5% between 2023 and 2028.
There has been an increasing availability of advanced technologies for drug delivery over the years. The global spasticity treatment market has numerous combination therapy options that provide high efficacy, which will increase the patient base, thereby fuelling market growth. For instance, as per the article published in the National Center for Biotechnology Information. (NCBI), the administration of intrathecal ziconotide and baclofen has been found to provide pain relief in patients with neuropathic pain and spasticity. Hence, such combination therapies have the potential to attract the attention of more medical practitioners and thus, positively impact the market growth.
Technavio has segmented the market into Type, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The drug therapy segment is estimated to witness significant growth during the forecast period. The main factor fuelling the growth of the drug therapy segment is the growing cases of associated risk factors globally. In addition, the imbalance in signals from the CNS to the muscles is often found in people with chronic conditions such as cerebral palsy, traumatic brain injury, spinal cord injury, stroke, and multiple sclerosis.
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The drug therapy segment was the largest segment and was valued at USD 2.90 billion in 2018. Moreover, the growing adoption of stressful and technologically advanced lifestyles is spurring the incidence of these diseases across the globe. For instance, as per the Centers for Disease Control and Prevention (CDC), every year, more than 795,000 people in the US have a stroke. In addition, about half of the people who survive after having a stroke suffer from muscle spasticity. Furthermore, as drug therapy is easily accessible to most patients, it naturally becomes the first choice of treatment, which, thus, makes it the segment with the larger share in the global spasticity treatment market. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Hospitals segment serve as crucial service providers for spasticity treatment, offering comprehensive care and specialized interventions for individuals affected by spasticity-related conditions. In addition, these facilities offer a variety of services that are necessary for the diagnosis, treatment, and recovery of patients suffering from spasticity. Moreover, hospitals provide a range of treatment options such as prescription drugs, physical therapy, injections of botulinum toxin, orthotic devices, and surgical procedures, including intrathecal baclofen pump implantation or selective dorsal rhizotomy. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Ambulatory surgical centers (ASCs) provide specialized services for spasticity treatment, providing a more focused and efficient environment for certain procedures and interventions. In addition, these centers cater to patients requiring outpatient surgical care for spasticity-related conditions. Moreover, ASCs are outfitted with the most advanced infrastructure and technology required to carry out treatments for spasticity, including injections of botulinum toxin, surgeries to release tendons, or procedures involving specific nerves. Furthermore, these facilities prioritize giving patients comfortable, high-quality care while maintaining patient safety. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The market growth in North America is due to the high-risk factors for spasticity in the region. In addition, the increasing prevalence of multiple sclerosis propels the incidence of spasticity in this region, as spasticity is a symptom of multiple sclerosis. Moreover, healthcare reforms in the US are having a positive impact on the growth of the market. Furthermore, the implementation of the Affordable Care Act is rapidly changing the business environment of the pharmaceutical industry in the US. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories: The company offers spasticity treatments such as Proclaim DRG Neurostimulation System, and Infinity Deep Brain Stimulation system.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the spasticity treatment market growth is the growing incidence of chronic diseases and health conditions. Spasticity is mainly caused by various chronic conditions that include damage to the portion of the brain or spinal cord that controls voluntary movement. In addition, primarily, spasticity occurs in patients who have CNS-related disorders such as multiple sclerosis and cerebral palsy, which affect the upper motor neurons in the form of lesions.
Moreover, the prevalence of these chronic neuro-musculoskeletal disorders is increasing worldwide, which, in turn, is increasing the incidence of spasticity. For instance, as per the Multiple Sclerosis Trust, about 2.5 million people around the world suffer from multiple sclerosis. Furthermore, the high prevalence of these conditions globally is because of the increase in the number of falls, road accidents, assaults, and other causes. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the spasticity treatment market growth is the advent of neurostimulation devices for spasticity treatment. The rise in the number of cases of chronic conditions is driving the prevalence of spasticity globally. In addition, this increasing prevalence of spasticity is motivating market players to not limit the treatment only to drug and physical therapy but to go beyond these therapies. Furthermore, the management of spasticity sometimes poses an unresolvable challenge due to the unmet need in the market.
Moreover, drug and physical treatments for the management of spasticity only offer short-term efficacy. In addition, these therapies are sometimes compounded by adverse side effects, which are often unpleasant for the patient. Therefore, to overcome this situation, many vendors in the market are developing devices, specifically neurostimulation devices, to treat spasticity in combination with the medications available. Hence, such factors are driving the market growth during the forecast period.
Less insurance coverage and medical reimbursement are one of the key challenges hindering the spasticity treatment market growth. The unfavorable reimbursement policies for healthcare expenditure, especially related to physical therapies pose a major hurdle for the growth of the healthcare sector worldwide. In addition, reimbursement policies affect the total healthcare expenditure, including that borne by the patient.
Moreover, the other factor affecting the market in developing countries is the marginal presence of companies, corporations, and private organizations that provide medical reimbursements, which has a negative impact on the number of patients. In addition, a reduction in the patient pool leads to a decline in the number of patients opting for spasticity treatments, which limits the growth of the global spasticity treatment market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Spasticity Treatment Market Customer Landscape
The spasticity treatment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Spasticity Treatment Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market Growth 2024-2028 |
USD 1.61 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.6 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Axonics Inc., BioWave Ltd., Boston Scientific Corp., BrainsWay Ltd., electroCore Inc., LivaNova Plc, Mayo Clinic, Medtronic Plc, NEURONETICS Inc., Nevro Corp., OMRON Corp., PathMaker Neurosystems Inc., Rady Childrens Hospital San Diego, Saebo Inc, Saluda Medical Pty Ltd., ShiraTronics, The Johns Hopkins Health System Corp., Theranica Bio Electronics Ltd., and Thync Global Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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