The global muscle relaxant drugs market is predicted to grow at a 5.5% CAGR during the forecast period (2015–2020). The market is being driven by the growing geriatric population, rising incidence of skin diseases, adverse effects of exposure to ultraviolet radiation, increasing usage of neuromuscular blocking agents in surgeries, and surging disposable income.
Insights on market segments
In terms of type, facial aesthetic relaxants held the largest share of the muscle relaxant drugs market during the historical period (2011–2014). This category is also expected to grow at the fastest pace during the forecast period due to the high efficiency and safety of such drugs.
Skeletal muscle relaxants are of two types: antispastic and antispasmodic agents. For conditions such as cerebral palsy and multiple sclerosis, antispastic agents are used, while antispasmodic agents are used for managing musculoskeletal conditions including lower back pain, tension headaches, and neck pain. Due to the availability of effective therapies and growing aging population, antispasmodic agents are used more frequently to manage musculoskeletal conditions.
North America stands as the largest muscle relaxant drugs market
Geographically, North America held the largest share of the muscle relaxant drugs market during the historical period owing to the rise in the aging population, increase in awareness about musculoskeletal problems and their management, surge in R&D investments, and advancements in the healthcare infrastructure.
Asia is predicted to witness the fastest CAGR in the muscle relaxant drugs market during the forecast period. This rapid growth would be due to the surging geriatric population, improving healthcare infrastructure, and rising number of surgeries. Due to the growing prevalence of chronic diseases, such as cancer and intra-abdominal diseases, the volume of surgeries is rising, which is leading to an increase in the demand for neuromuscular blocking drugs.
Growing geriatric population driving the growth of the market
The geriatric population worldwide is surging at a rapid pace. According to the United Nations Department of Economic and Social Affairs (UN DESA), the share of the elderly in the total population has increased from 9.2% in 1990 to 11.7% in 2013. This share is further predicted to reach 21.1% by the end of 2050. The aging population is also more prone to chronic diseases and musculoskeletal and skin problems. The management of these problems requires muscle relaxant drugs, which further leads to the growth of the muscle relaxant drugs market.
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Pharmaceutical companies launching new products to gain higher market share
Several pharmaceutical companies are introducing new products and drugs to help in more-efficient and quicker relaxation of the muscles. For instance, a key muscle relaxant drugs market player, Merck & Co. Inc., launched a 100 mg/ml BRIDION injection in December 2015 for reversing neuromuscular blockade caused due to vecuronium bromide and rocuronium bromide in adults going through surgery.
The key companies in the global muscle relaxant drugs market include Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Galderma S.A., Johnson & Johnson, Pfizer Inc., Intas Pharmaceuticals Ltd., and GlaxoSmithKline PLC.
GLOBAL MUSCLE RELAXANT DRUGS MARKET SEGMENTATION
Breakdown by Geography