Spasticity Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Spasticity Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The spasticity Treatment market studied was anticipated to grow with a CAGR of nearly 10.1% during the forecast period. The major factors attributing to the growth of the market are a rise in prevalence of multiple sclerosis, cerebral palsy, and encephalitis across the geographical locations compared to previous years. For instance, according to fact sheet published by The American Association of Neurological Surgeons in 2020, more than an estimated 12 million cases of spasticity were recorded worldwide. Also, cerebral palsy (CP) was identified as the leading cause of spasticity affecting more than 80 percent of people with the disorder demanding an efficient treatment driving the growth of the global spasticity drugs market.

The oral route segment is expected to account for the largest held the largest of the spasticity drugs market. The dominance can be attributed to the increased usage of these medications owing to ease of administration that helps the individual in medication when spasticity starts affecting the daily muscle functioning. It does not require a highly skilled health care professional for drug administration. Also, an increased demand for combination products such as benzodiazepines, imidazole, and gamma-amino butyric acid analogs fuel the global spasticity Treatment market during the forecast period.

North America is expected to dominate the spasticity drugs market owing to the rising number of cases with various traumatic brain injuries, cervical dystonia, and muscular atrophy causing spasticity. Also, an increased prevalence of rare diseases such as ALS, PKU etc., and more number of elderly population due to presence of baby boomers during forecast period in the U.S. Thus, due to above mentioned factors, U. S. holds the major revenue share of market in North America contributes to the significant revenue share. According to the ALS Association statistics, in 2019, about 15 new people were diagnosed with ALS every day in the U.S. that leads to spasticity in muscles. Launch of new products by key players with accelerated drug approval initiative by the USFDA to develop drugs for rare diseases and advanced healthcare infrastructure fuel the market. Furthermore, rise in health awareness among public with government initiatives to create awareness in people are likely to create more opportunities in the market. Also, rise in disposable income, drive the spasticity drugs market growth in the region over the forecast period.

The spasticity Treatment market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominating the market are developing new products to address unmet challenges in the market. In January 2020, Ipsen received approval for Dysport by the United Kingdom’s Medicines and Healthcare Products Regulatory Agency (MHRA). The Dysport is a clostridium botulinum type A toxin-haemagglutinin complex is used for the symptomatic treatment of focal spasticity of upper limbs in children with cerebral palsy. The product was earlier approved in major geographies including United States, the recent approval for the sales in United Kingdom is expected to have a positive impact on the global market growth. Some of the companies which are currently dominating the market are Medtronic Plc, Piramal Enterprises Ltd, Allergan plc, Ipsen, and F. Hoffmann-La Roche Ltd.

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