The global muscle relaxant drug market is projected to grow significantly during the forecast period. Muscle relaxants are utilized to relax and reduce tension in the muscle. It primarily cures two conditions including spasticity or rigidness of the muscles caused by cerebral palsy, multiple sclerosis; and muscle spasms which are tension headache, low back pain, or fibromyalgia. Some of the commonly used drugs include methocarbamol, baclofen, and tizanidine that blocks over-excited neuronal pathways in the brain or spinal cord. Whereas dantrolene and botulinum toxins act directly on the muscle. 

The key factors that drive the growth of the market include the rising geriatric population. The aging population is projected to increase significantly during the forecast period. According to WHO, the geriatric population is going to be double in 2050 as compared to 2000. Globally, in 2000, the proportion of the population over 65 years was 11.0%, which is expected to reach 22.0% by 2050. Older age is a primary risk factor, as they are more prone to diseases as well as muscle and joint pains. Thus, this is likely to increase the growth of the market during the forecast period.

Additionally, increased focus of the key players on the development of novel drugs for the treatment of pain, rapid drug approvals, increased number of surgeries is some other factors that fuel the market growth during the forecast period. However, side effects associated with the muscle relaxant drugs is challenging the market growth. Besides, the key players are expected to provide growth opportunities to the market by various product launches and drug innovations. For instance, in March 2017, Cadila Healthcare Ltd. received approval from the US FDA to market a muscle relaxant named tizanidine hydrochloride capsules, in the US market.

Segmental Outlook

The global muscle relaxant drug market is segmented on the basis of product type and formulation. Based on the product type, the global muscle relaxant drug market is segmented into peripherally acting muscle relaxants, facial aesthetic relaxants, and centrally acting muscle relaxants. Based on the formulation, the market is bifurcated into oral and injectable. 

Global Muscle Relaxant Drugs Market by Formulation, 2019 (%)

Oral Segment Holds Significant Market Share

Amongst the formulation, the oral segment is likely to hold a significant share in the market. Oral drug formulation is one of the easiest, common, and inexpensive ways of drug administration. The oral route of drug administration is safer and inexpensive. It possesses several advantages over another route of drug administration. It is easy to take as it can be taken by the patient itself without the assistance of any other person. Chances of the improper dose are near to nil in oral drug administration. In addition, as compared to injection, they are the non-painful route of administration and there is no wastage of drug. The oral medication can be provided to any age group including infants, children, adults, and old age people. Thus, the oral segment is projected to contribute considerably to the market during the forecast period.   

Regional Outlook

The global muscle relaxant drugs market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to hold a considerable share in the market. This is attributed to the advanced healthcare infrastructure in the regions. Further, the presence of key players such as J&J and the adoption of advanced products in the country such as the US is directly affecting the growth of the market during the forecast period. Further, increasing prevalence of musculoskeletal disorders, for instance, in 2018, neck and back pain is the most common among adults in the US as per the Palmer College of Chiropractic research study. Further, Asia-Pacific is expected to exhibit considerable growth as it has a large pool of older age people, especially in economies such as Japan.

Global Muscle Relaxant Drugs Market, by Region 2019 (%)

Market Players Outlook

Numerous major players are operating in the global muscle relaxant drugs industry. The prominent players operating in the global muscle relaxant drugs market include AbbVie Inc., Acorda Therapeutics Inc., Cadila Healthcare Ltd., Dr. Reddy's Laboratories Ltd., Johnson & Johnson Services Inc., Merck & Co. Inc., Mylan NV, Orient Pharma Co. Ltd., Par Pharmaceutical Inc., Pfizer Inc., and others. These are the key companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global muscle relaxant drug market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global muscle relaxant drugs market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.