May 18, 2024
Muscle Spasticity Market

The Global Muscle Spasticity Market Is Driven By Rising Neurological Diseases

Muscle spasticity refers to an involuntary tightening or stiffness of the muscles, which can occur under conditions such as cerebral palsy, spinal cord injuries, multiple sclerosis, and strokes. The symptoms of muscle spasticity include increased muscle tone, exaggerated deep tendon reflexes, and painful muscle spasms. These symptoms can significantly impair mobility and quality of life. The drugs used for treatment of muscle spasticity work by reducing muscle tone and relaxing contracted muscles. Food and Drug Administration has approved several drugs such as baclofen, dantrolene, tizanidine, and botulinum toxin that help manage spasticity symptoms.

The global Muscle Spasticity Market is estimated to be valued at US$ 5693.7 Mn in 2024 and is expected to exhibit a CAGR of 11. % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The key trend in the Global Muscle Spasticity Market Size is the increase in research and development activities for innovative treatment options. Spasticity is a complex disorder and available treatment options provide only partial relief and are also associated with safety issues. This has led to active research focusing on developing novel drugs with improved efficacy and safety. Some of the new emerging treatment targets under research include cannabinoids, benzodiazepine receptors, and potassium channels. Biologic therapies involving gene therapy and stem cell therapy also hold promise. With ongoing efforts, it is likely that advanced therapeutic solutions will enter the market in the coming years.

Porter’s Analysis

Threat of new entrants: The muscle spasticity market requires significant R&D investments and regulatory compliance. This poses moderate threat of new entrants.
Bargaining power of buyers: The buyers have moderate bargaining power due to availability of alternative treatment options.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and differentiation in products.
Threat of new substitutes: Alternative treatment options like botulinum toxin injections, baclofen pumps pose threat of substitution.
Competitive rivalry: The market is dominated by global players intensifying competition.

Key Takeaways

The global muscle spasticity market is expected to witness high growth.

Regional analysis: North America dominated the market accounting for over 35% share in 2023 owing to increasing incidence of injuries and neurological disorders. Europe and Asia Pacific are expected to be the fastest growing markets between 2024-2031 driven by growing awareness.

Key players: Key players operating in the muscle spasticity market are Accenture PLC,Cisco Systems Inc.,Cognizant Technology Solutions Corporation,Capgemini,Computer Sciences Corporation (CSC),HCL Technologies Ltd.,IBM Corporation,Infosys Ltd.,Intel Corporation,Jabil Circuits,Micron Technology,NTT Data Corporation,Tata Consultancy Services,Tech Mahindra Ltd.,Wipro Ltd. Accenture PLC secured majority market share with innovative rehabilitation programs and expanded service portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it