NEWARK, Del, May 09, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the valuation for the global spasticity treatment market was around US$ 12.2 Billion in 2022 and is projected to exhibit a CAGR growth of close to 8.1% over the forecast period, with an estimated valuation of US$ 28.4 Billion in 2033.
Spasticity is a condition that is characterized by the involuntary tightening or contraction of muscles. It is caused by damage to the central nervous system, which can occur as a result of conditions such as multiple sclerosis, cerebral palsy, spinal cord injury, or stroke. When the muscles are affected by spasticity, they become stiff and difficult to move. This can result in difficulty with movement, coordination, and balance, and can also cause pain and discomfort.
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Non-invasive treatments for spasticity, such as physical therapy and occupational therapy, are becoming more popular. These treatments can help to improve the range of motion, reduce pain, and enhance the overall quality of life without the need for invasive procedures. The prevalence of spasticity is increasing worldwide, which is driving the demand for effective treatment options.
As awareness of spasticity is growing, more patients are being diagnosed and seeking treatment, which is causing the market for spasticity treatment to further expand. Advances in technology have led to the development of new and innovative treatment options, such as minimally invasive procedures and non-invasive devices, which are driving the growth of the spasticity treatment market.
Increasing use of botulinum toxin injections is also driving the growth of the market. Botulinum toxin injections have become increasingly popular for the treatment of spasticity. They work by blocking the release of acetylcholine, a neurotransmitter that causes muscles to contract. Botox injections have a lower risk of side effects compared to other treatments, such as oral medications. This is also driving the growth of the market for combination therapies for spasticity treatment.
Overall, these factors are contributing to the growth of the spasticity treatment market, and are expected to continue to drive demand for effective and innovative treatment options in the coming years.
Key Takeaways:
- Treatment Type is the leading segment as treatment options are increasing among patients and professionals, and held about 68.4% market share in 2022, due to significant advances in the development of new treatments for spasticity, including medications, physical therapy, and surgical procedures.
- Cerebral palsy is the leading segment and held about 14.4% market share in 2022, due to the increased incidence of risk factors and increasing prevalence rate of cerebral palsy.
- By distribution channel, the hospital pharmacies dominated the global spasticity treatment market holding a total market share of about 38.3% by the end of 2022, owing to the convenience and ease of accessibility to a range of products from OTC/off-label products to licensed products.
- By service providers, the hospitals dominated the global spasticity treatment market holding a total market share of about 37.1% by the end of 2022, owing to the increasing diagnostic tools and rising inpatient and outpatient services.
- By region, North America is leading in the global spasticity treatment market with the U.S. contributing around US$ 3.63 Billion in 2022 to the global market.
“Increasing adoption of combination therapies and growing awareness and diagnosis of the condition to create the lucrative potential for the market to grow,” says an analyst at Future Market Insights (FMI).
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Market Competition:
Key players in the axillary hyperhidrosis market expand their businesses through acquisitions, expansion, and collaborations. The focus of major players is on tactics like increasing sales and applying new technologies for the development of novel products.
- In January 2019, GSK and Novartis announced a collaboration to support scientific research into genetic diversity in Africa.
- In July 2022, GSK acquired Sierra Oncology, a California-based biopharmaceutical company.
- In August 2022, Sun Pharma launched a website to expand its long-term care portfolio in the USA.
Key Players:
- Medtronic Plc
- Piramal Enterprises Ltd.
- AbbVie, Inc. (Allergan)
- Ipsen Pharma
- F. Hoffmann-La Roche Ltd
- GlaxoSmithKline plc
- Pfizer Inc.
- Elite Pharmaceuticals Inc.
- Orient Pharma
- Acorda Therapeutics, Inc.
- Sun Pharmaceutical Industries Ltd
- Novartis AG (Alcon)
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the spasticity treatment market in its latest study, presenting a historical demand assessment of 2012 to 2022 and projections for 2023 to 2033. The global spasticity treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on Diagnosis & Treatment Type – [Diagnosis (Inpatient & Outpatient) Treatment Type (Drug (Baclofen, Tizanidine, Dantrolene sodium, Diazepam, Clonazepam & Gabapentin) Physical Therapy, Botulinum injection, Surgery Treatment & Other Treatment) Devices (Reciprocal EMG-Triggered Stimulation, Transcutaneous Electrical Nerve Stimulation, Bracing and Cuff, Leg lifter, Cane and Crunches, Wheelchair & Others)], Indication (Cerebral Palsy, Multiple Sclerosis, Amyotrophic Lateral Sclerosis, Hereditary Spastic Paraplegias, Periventricular Leukomalacia, Metabolic Diseases, Traumatic Brain Injury, Spinal Cord Injury, Stroke, Multiple System Atrophy, Stiff-Person Syndrome, Infectious Transvers Myelitis, Encephalopathy, Brain Tumor, Krabbe Disease & Johns Hopkins Disease), Distribution Channel - (Hospitals Pharmacies, Retail Pharmacies, Drug Stores & Online Pharmacies) , Service Providers (Hospitals, Ambulatory Surgical Centers, Home Care Settings, Specialty Clinics & Diagnostic Centers) across seven regions of the world.
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Key Segments Covered:
By Diagnosis & Treatment Type:
- Diagnosis
- Inpatient
- Outpatient
Treatment Type:
- Drug
- Baclofen
- Tizanidine
- Dantrolene sodium
- Diazepam
- Clonazepam
- Gabapentin
- Physical Therapy
- Botulinum injection
- Surgery Treatment
- Other Treatment
By Devices:
- Reciprocal EMG-Triggered Stimulation
- Transcutaneous Electrical Nerve Stimulation
- Bracing and Cuff
- Leg lifter
- Cane and Crunches
- Wheelchair
- Others
By Indication:
- Cerebral Palsy
- Multiple Sclerosis
- Amyotrophic Lateral Sclerosis
- Hereditary Spastic Paraplegias
- Periventricular Leukomalacia
- Metabolic Diseases
- Traumatic Brain Injury
- Spinal Cord Injury
- Stroke
- Multiple System Atrophy
- Stiff-Person Syndrome
- Infectious Transverse Myelitis
- Encephalopathy
- Brain Tumor
- Krabbe Disease
- Johns Hopkins Disease
By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Service Providers:
- Hospitals
- Ambulatory Surgical Centers
- Home Care Settings
- Specialty Clinics
- Diagnostic Centers
Table of Content (ToC):
1. Global Market- Executive Summary | Spasticity Treatment Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusion and Exclusion
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Indication of Innovation / Development Trends
4. Value-Added Insights
4.1. Product Adoption/Usage Analysis, By Region
4.2. Regulatory Scenario
4.3. Data on Insurance Coverage
4.4. Cost of Treatment by Key Countries
4.5. Annual Patient Volume of Indications for Key Countries
4.5.1. Cerebral Palsy
4.5.2. Multiple Sclerosis
4.5.3. Amyotrophic Lateral Sclerosis
4.5.4. Hereditary Spastic Paraplegias
4.5.5. Periventricular Leukomalacia
5. Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP Growth Outlook
5.1.2. Global Healthcare Expenditure Market Outlook
5.1.3. Global Pharmaceutical Market Outlook
Complete TOC with Report Preview: https://www.futuremarketinsights.com/toc/rep-gb-17165
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