Muscle spasticity refers to tight or stiff muscles and increased reflexes occurring due to upper motor neuron disorders like multiple sclerosis, cerebral palsy, spinal cord injuries and stroke. The condition results in constant contractions of muscles which restrict normal movements. Treatment solutions for muscle spasticity include medication, therapies, injections and surgeries. Oral medications like baclofen and tizanidine help in reducing muscle tone while physical and occupational therapies help improve mobility. Botulinum toxin injections are also commonly used to relax stiff muscles temporarily. The global muscle spasticity treatment solutions market offers various treatment options to manage the condition and improve patients' quality of life.
The global muscle spasticity treatment solutions 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 Opportunity: The rising number of spinal cord injuries is presenting a major market opportunity for muscle spasticity treatment solutions. Spinal cord injuries often lead to muscle spasticity in legs and other parts below the site of injury. According to the World Health Organization, the annual global incidence rate of spinal cord injury is 40 to 80 cases per million populations or approximately 273,000 to 500,000 new injuries annually worldwide. With limited treatment options available, the demand for effective muscle spasticity management solutions is increasing tremendously. This growing incidence of spinal cord injuries coupled with the lack of cure is expected to drive the demand for muscle spasticity treatment drugs, therapies and devices over the forecast period. Porter’s Analysis Threat of new entrants: Low barriers to entry for new players due to less stringent regulations. However, established players have strong brand recognition and distribution networks. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity for healthcare products. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and established supply chain of key players. Threat of new substitutes: Moderate threat due to availability of generic drugs and alternative treatment options like physical therapy and supplements. Competitive rivalry: High due to presence of established multinational players and regional brands competing on basis of product quality, innovation and pricing. SWOT Analysis Strength: Wide range of product portfolio and strong brand recognition of major players. Growing adoption of herbal supplements. Weakness: High cost of R&D and clinical trials. Dependence on agro-climatic conditions for herbal ingredients. Opportunity: Rising geriatric population prone to muscle disorders. Increasing consumer inclination towards herbal alternatives. Threats: Stringent regulations delay product approvals. Threat from low-cost generic drugs. Key Takeaways The Global Muscle Spasticity Market Size is expected to witness high growth at a CAGR of 7.5% during the forecast period of 2023 to 2030. Rising cases of multiple sclerosis, cerebral palsy and spinal cord injuries are major factors boosting market growth. Regional analysis: North America dominates the global market led by the US which accounts for over 50% revenue share currently. Growing prevalence of neuromuscular disorders along with strong healthcare infrastructure and availability of advanced treatment options contribute to the leading position of North America. Asia Pacific is witnessing fastest growth due to rising muscle disorder incidences, growing medical tourism and increasing spending on healthcare. 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. Key players are focused on product innovations, new launches and partnerships to consolidate their market shares. Sanderson has emerged as the global market leader with wide global footprint and robust product portfolio. Get more insights on this topic: https://www.marketwebjournal.com/muscle-spasticity-market-share/
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