Muscle spasticity refers to involuntary muscle contractions. It is a common symptom of conditions such as multiple sclerosis, cerebral palsy and spinal cord injuries. Muscle relaxants are widely used to treat muscle spasticity. These medications help relax contracted muscles and reduce stiffness. With growing awareness about treatment options for muscle spasticity, the demand for related medications and therapies is surging.
The global Muscle Spasticity 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 key trends:
The muscle spasticity market is expected to witness significant growth over the forecast period, driven by increasing awareness about the condition and available treatment options. Various awareness campaigns organized by healthcare non-profits and patient associations are playing a major role in enhancing understanding about muscle spasticity, its causes and management. As knowledge levels improve, more patients are seeking medical help for spasms and muscle stiffness. This is contributing to higher demand for drugs and therapies to reduce spasticity levels. With growing awareness, more treatment seekers are anticipated over the next few years, propelling the muscle spasticity market forward.
Segment Analysis
The global muscle spasticity market is segmented into treatment type, indication, and distribution channel. Based on treatment type, the botulinum toxin segment dominates the market owing to its highly efficacy and lesser side effects compared to other treatment types. Botulinum toxin is widely used to treat upper and lower limb spasticity. Based on indication, the cerebral palsy segment holds the largest share due to rising incidence of cerebral palsy worldwide. Based on distribution channel, hospital pharmacies dominate the market, closely followed by retail pharmacies as muscle spasticity drugs require consultation from medical professionals before use.
Key Takeaways.
The Global Muscle Spasticity Market Demand 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.
Regional analysis:
North America is anticipated to dominate the global muscle spasticity market during the forecast period owing to rising prevalence of neurological disorders and presence of leading market players in the region. The presence of favorable healthcare infrastructure and reimbursement policies are also expected to augment the regional market.
Key players:
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. These players are focusing on new product launches and geographical expansion to strengthen their market position.
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New York, NY 08 May 2021: The global cannabis pharmaceuticals market is expected to reach USD 5.72 billion by 2027, according to a new study by Polaris Market Research.
The report “Cannabis Pharmaceuticals Market Share, Size, Trends, Industry Analysis Report, By Product (Epidiolex, Marinol, Cesamet and Sativex); By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies), By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.Favorable legislation in the market, policies across developed economies, and investments in the research and development for cannabis-infused drugs are the key factors responsible for the market growth.
Moreover, technological innovation to decide the accurate dose of cannabis-infused drugs with cutting edge delivery methods to ensure therapeutic and psychoactive events, to contain drug abuse among adults also favoring market growth for cannabis pharmaceuticals.
Request For Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/cannabis-pharmaceuticals-market/request-for-sample The global market for cannabis pharmaceuticals is fragmented based on product, distribution channel, and region.
In terms of product, the market is segmented into Epidiolex, Marinol, Cesamet, and Sativex.
Based on distribution channel, the cannabis pharmaceuticals industry is further bifurcated into hospital, online, and retail pharmacies.
The global cannabis pharmaceuticals market is expected to reach USD 5.72 billion by 2027, according to a new study by Polaris Market Research.
The report “Cannabis Pharmaceuticals Market Share, Size, Trends, Industry Analysis Report, By Product (Epidiolex, Marinol, Cesamet and Sativex); By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies), By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Favorable legislation in the market, policies across developed economies, and investments in the research and development for cannabis-infused drugs are the key factors responsible for the market growth.
Moreover, technological innovation to decide the accurate dose of cannabis-infused drugs with cutting edge delivery methods to ensure therapeutic and psychoactive events, to contain drug abuse among adults also favoring market growth for cannabis pharmaceuticals.
Blockchain technology in the pharmaceutical industry could be used to maintain strain purity and product formulations to have effective treatment for the therapeutic cause and will also enable us to capture dosage data for future considerations, thus technology could also play important role in shaping the market future of the cannabis pharmaceuticals industry.
In terms of product, the market is segmented into Epidiolex, Marinol, Cesamet, and Sativex.
CBD was discovered to be an excellent option for those who suffer from muscle spasms due to multiple sclerosis.
Cannabidiol, also called CBD, is the main ingredient in the drug that produces a calming effect on the human nervous system.
According to statistics that have been compiled, it is estimated that more than two million people in Canada alone suffer from symptoms of persistent and chronic muscle spasms that can be controlled with the help of medications.
Many people who suffer from muscle spasticity have found this information to be an advantage.A lot of people think that the benefits of medical marijuana are too significant to ignore.
The Medical Association of New Zealand has stated that cannabis has any medicinal value, yet many doctors in the country are still treating patients with this drug.
Despite numerous petitions being submitted at the federal level, and numerous discussions held at municipal or provincial levels, the cannabis plant remains illegal in a number of nations around the globe.Patients with debilitating conditions like epilepsy or cancer, HIV/AIDS, or other debilitating conditions cannot use medical marijuana.
