Muscle spasticity refers to involuntary tightness or stiffness of muscles which can hamper movement severely. It affects over 12 million people worldwide and commonly associated with neurological disorders such as multiple sclerosis, cerebral palsy, spinal cord injury and stroke. With rise in prevalence of these neurological disorders, the demand for treatment and management of muscle spasticity is also increasing.
The global Muscle Spasticity Market is estimated to be valued at US$ 5,693.7 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increase in adoption of botulinum toxin
One of the key driver propelling the Global Muscle Spasticity Market Size is increasing adoption of botulinum toxin for treatment of muscle spasticity associated with various neurological disorders. Botulinum toxin is a biological toxin produced by the bacterium Clostridium botulinum and Clostridium butyricum. It works by blocking the release of acetylcholine at the neuromuscular junction and thus induces temporary paralysis of the muscle. With increasing awareness regarding advantages of botulinum toxin over other conventional treatment options and availability of new botulinum toxin products, its adoption has grown considerably over the past few years. This trend is anticipated to continue in forthcoming years.
SWOT Analysis
Strength: The muscle spasticity market has a large target patient population suffering from conditions such as cerebral palsy, multiple sclerosis.
Weakness: High costs associated with treatment options and limited medical reimbursements act as a barrier.
Opportunity: Rising geriatric population prone to conditions improves growth prospects. Emerging economies present untapped opportunities.
Threats: Stiff competition from generic drugs can hamper revenue growth. Stringent regulatory approvals for new therapies increase R&D costs.
Key Takeaways
The global muscle spasticity market is expected to witness high growth.
Regional analysis: The market is expected to witness lucrative growth in Asia Pacific region due to rapid improvements in healthcare infrastructure along with rise in disposable incomes. North America currently dominates the market owing to uptake of advanced therapies.
Key players operating in the muscle spasticity 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. The key players are focused on expanding in emerging markets through collaborations and partnerships with local players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it