|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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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.
Scope of the Report
Spasticity is a physiological condition in which contraction of muscles occurs continuously leading to tightening of muscles and prolonged stiffness. The spasticity may occur due to various disorders such as multiple sclerosis, meningitis, and other conditions such as injury to the spinal cord and others. Uncontrollable spasms in legs and arms are the common symptoms, along with frequent joint pain and lower back pains. Rise in spasticity cases among rare and genetic diseases such as Amyotrophic lateral sclerosis (ALS), phenylketonuria (PKU), which leads to the death of neurons controlling voluntary muscles is also expected to drive the market.
|Multiple Sclerosis (MS)|
|Cerebral Palsy (CP)|
|Traumatic Brain Injury (TBI)|
|Route of Administration|
Key Market Trends
Oral Route Segment is Expected to Hold the Major Market Share in the Spasticity Treatment 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.
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North America Dominates the Market and Expected to do Same in 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.
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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 UK’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 UK 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.
In August 2020 the United States Food and Drug Administration (FDA) has approved a supplemental Biologics License Application XEOMIN (incobotulinumtoxinA).
In July 2020 the company Ipsen Biopharmaceuticals announced that the United States Food and Drug Administration (FDA) approved the expanded use of Dysport (abobotulinumtoxinA) for the treatment of Spasticity in pediatric patients
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Awareness Programs and Adoption of Novel Technologies
4.2.2 Launch of Advanced Therapeutics, and Increased Affordability
4.3 Market Restraints
4.3.1 High Cost of Treatment
4.3.2 Stringent Regulatory Framework
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Drug Class
5.1.2 Alpha2-adrenergic Agonists
5.1.3 Botulinum Toxins
5.2.1 Multiple Sclerosis (MS)
5.2.2 Cerebral Palsy (CP)
5.2.3 Traumatic Brain Injury (TBI)
5.3 Route of Administration
5.5.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.5.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.5.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.5.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Medtronic Plc
6.1.2 Sun Pharmaceuticals Industries Ltd
6.1.3 Saol Therapeutics Inc
6.1.4 Piramal Enterprises Ltd
6.1.5 Par Pharmaceuticals LLC
6.1.6 Allergan plc
6.1.8 F. Hoffmann-La Roche Ltd
6.1.9 US WorldMeds LLC
6.1.10 Taj Pharmaceuticals Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Spasticity Treatment Market market is studied from 2018 - 2026.
What is the growth rate of Spasticity Treatment Market?
The Spasticity Treatment Market is growing at a CAGR of 10.1% over the next 5 years.
Which region has highest growth rate in Spasticity Treatment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Spasticity Treatment Market?
North America holds highest share in 2021.
Who are the key players in Spasticity Treatment Market?
Medtronic Plc, Piramal Enterprises Ltd, Allergan plc, Ipsen, F. Hoffmann-La Roche Ltd are the major companies operating in Spasticity Treatment Market.