Market Size of Muscle Relaxant Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Muscle Relaxant Drugs Market Analysis
The muscle relaxant drugs market is expected to register a CAGR of 5.6% over the forecast period.
The COVID-19 pandemic significantly impacted the growth of the muscle relaxant drug market. For instance, an article published in Perspectives in Psychiatric Care in March 2021 reported that muscle relaxants effectively reduced anxiety and improved the sleep quality of patients with COVID-19. The article also said that healthcare professionals administered progressive muscle relaxants to patients with COVID-19. Thus, COVID-19 increased the demand for muscle relaxants. However, in the current scenario, it is anticipated that with the decrease in COVID-19 cases, the need for muscle relaxants may get stabilized as compared to the beginning of the pandemic, but the increase in the prevalence of various musculoskeletal disorders is expected to increase the demand for muscle relaxants over the forecast period.
The factors driving the growth of the studied market include rising geriatric populations worldwide and the increase in musculoskeletal disorders. For instance, in 2021, an article published by the Work-Related Musculoskeletal Disorders statistics in Great Britain in 2021 stated that 470,000 people had work-related musculoskeletal disorders who were new or long-standing in the year 2020-2021. In the future, these conditions are expected to worsen and need external help, thereby accelerating market growth.
Similarly, an article published in the journal Annals of Medicine Surgery in December 2021 reported that a survey conducted among 342 doctors working in the operating room in a hospital in North-West Ethiopia in the year 2021 said the prevalence of work-related musculoskeletal disorders was 64.2% among healthcare providers. Thus, the high prevalence of musculoskeletal disorders is expected to increase the demand for muscle relaxant drugs, contributing to the market's growth. Additionally, the increasing prevalence of pain and spasm conditions among the global population and a rising focus on developing novel drugs for treating spasms and pain are other factors bolstering market growth.
Moreover, the increasing geriatric population is driving the demand for muscle relaxants as musculoskeletal disorders are more prevalent in an older population, so muscle relaxants are mainly used to reduce the pain and symptoms associated with these diseases and thus drive the growth of the studied market. For instance, in 2022, United Nations Projections reported that in 2022, there were 771 million people aged 65 years or over globally, and this number is projected to reach 994 million by 2030 and 1.6 billion by 2050. Thus, the increasing geriatric population is more commonly using muscle relaxants, increasing its demand and thus driving the growth of the studied market.
Furthermore, the new product launches by various key market players are expected to drive growth. For instance, in July 2021, Hikma Pharmaceuticals launched a Succinylcholine Chloride injection, USP 20 mg/ml, in the United States. Succinylcholine Chloride Injection, USP was used in the treatment of COVID-19 patients. In addition to general anesthesia, it is indicated to facilitate tracheal intubation and provide skeletal muscle relaxation during surgery or mechanical ventilation. Thus, due to the growing geriatric population, increasing prevalence of musculoskeletal disorders, and new product launches, the market is expected to grow significantly over the forecast period. However, side effects associated with muscle relaxant drugs are acting as a restraining factor to the market growth.
