Market Overview
Muscle spasticity refers to the tightening or stiffening of muscles which restricts movement. It is a common symptom resulting from damage to motor neurons in the brain or spinal cord, often due to conditions like cerebral palsy, multiple sclerosis, spinal cord injury or stroke. The key products and services used for managing muscle spasticity includes botulinum toxin injections, physical & occupational therapy, muscle relaxant drugs and antispasticity devices. With the increasing cases of neurological conditions globally, the demand for treatment of muscle spasticity is growing.
Key Takeaways
Key players operating in the Muscle Spasticity market are Accenture PLC,Cisco Systems Inc.,Cognizant Technology Solutions Corporation,Capgemini,Computer Sciences Corporation (CSC),HCL Technologies Ltd.,IBM Corporation,Infosys Ltd.,Intel Corporation,Jabil Circuits,Micron Technology,NTT Data Corporation,Tata Consultancy Services,Tech Mahindra Ltd.,Wipro Ltd. These players are focusing on developing innovative spasticity management options like combination drug therapies and neurostimulation devices.
There is high potential for growth in emerging economies due to increasing healthcare expenditure and growing patient awareness. Various Muscle Spasticity Market Growth players are undertaking strategic collaborations and partnerships to expand their presence in high growth regions like Asia Pacific and Latin America. For instance, Merz Pharma collaborated with Anthropic to utilize artificial intelligence techniques for development of new treatment options.
Key opportunities in the market include strategic mergers and acquisitions of emerging players offering novel treatment modalities. Companies are also investing heavily in R&D to develop patient specific therapies, monitor treatment response and develop disease modifying approaches.
Market Drivers
The key driver for the muscle spasticity market is rising prevalence of neurological disorders globally. As per WHO, over 1 billion people suffer from neurological conditions worldwide annually. Conditions like cerebral palsy, multiple sclerosis and spinal cord injuries often lead to muscle spasticity symptoms, thereby increasing the patient pool for treatment options.
Market Restrain
High cost of approved drug therapies and lack of healthcare infrastructure in developing regions is a major challenge restraining market growth. Botulinum toxin injections which are the front line treatment cost over US$5000 per session posing affordability issues. Physical therapy sessions also add to the overall treatment cost burden for patients. Lack of awareness amongst patients about available treatment options also limits the market demand for spasticity management globally.
Segment Analysis:
The muscle spasticity market can be segmented as type of treatment, type of muscles affect and end users. Based on treatment type, the botulinum neurotoxins sub segment holds the major share and is dominating the market. Botulinum neurotoxins are used to reduce muscle stiffness and spasms caused by conditions like cerebral palsy, spinal cord injury, multiple sclerosis etc. Due to their effective long lasting results and minimal side effects, botulinum neurotoxins are highly preferred choice of treatment among physicians and patients. Among muscle types, lower limb muscle spasticity sub segment holds the largest share. This is because spasticity in lower limbs severely affects mobility and causes discomfort.
Global Analysis:
Regionally, North America region dominates the muscle spasticity market currently. This is due to high availability of advanced treatment options, presence of major manufacturers, rising awareness about therapies and favorable reimbursement policies in countries like US and Canada. Europe region captures the second largest market share owing to growing geriatric population, increasing prevalence of neurological disorders and government support for research. Asia Pacific region is expected to witness highest growth during forecast period. This growth can be attributed to rapidly developing healthcare infrastructure, rising medical tourism, growing incidence of cerebral palsy and stroke cases. Growing economies of India and China provide huge patient population and increase adoption of new treatment technologies.
Get More Insights On This Topic: Muscle Spasticity Market
Comments
0 comment