The global Spasticity Treatment Market is worth US$ 13.1 Billion as of now and is expected to reach US$ 28.4 Billion by the year 2033 at a CAGR of 8.1% between 2023 and 2033.
Spasticity is turning out to be a common thing with growing frequency of neuro-musculoskeletal illnesses. This is evident from the fact that the year 2020 alone witnessed close to 2.5 Million multiple sclerosis patients worldwide. It needs to be noted that harm caused to brain/spinal cord do directly contribute to the traumatic brain injury and spinal cord injury respectively.
At the same time, the fact that there is a dearth of skilled specialists like neurologists, psychiatrists, occupational and physical therapists, rehabilitation nurses, language and speech pathologists, recreational therapists, social workers, and psychologists can’t be ignored. Factors like these could restrain the spasticity treatment market in the near future.
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Besides, the fact that geriatric population is increasing at an alarming rate can’t be ignored. The WHO states that the number of people aged 60 and above are expected to reach 1.4 Billion by the year 2050. It’s a known scenario that aged population is more prone to spasticity.
Future Market Insights has walked through these facets with future prospects in its latest market study entitled ‘Spasticity Treatment Market’. It has its dedicated team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With incidences of chronic ailments on the rise, the global spasticity treatment market is expected to grow on an irreversible note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Spasticity Treatment Market
- Europe holds the largest market share on the back of Germany witnessing technological advancements. Virtual reality is being used for providing immersive therapy experiences for the ones suffering from spasticity.
- The Asia-Pacific is expected to grow at the quickest rate in the spasticity treatment market with India and China leading from the front. These regions are increasingly investing in healthcare infrastructure.
- North America is expected to witness steadiness in the spasticity treatment market going forward with the US being persistent.
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Competitive Treatment:
- Medtronic, August 2022, acquired Affera. The basic objective is that of providing the former access to the latter’s Prism-1 cardiac mapping and navigation platform; which shows compatibility with therapeutic catheters along with numerous competing technologies.
- Allergen, in January 2020, did receive regulatory approval for using Botox for treating younger patients suffering from upper limb spasticity.
- Ipsen Biopharmaceuticals, in July 2020, did announce that the US FDA had approved expanded usage of abobotulinumtoxinA (Dysport) to treat Spasticity in the pediatric patients.
- The US FDA, in August 2020, completed approval of XEOMIN (incobotulinumtoxinA), a supplemental Biologics License Application.
- Teva Pharmaceuticals, in August 2020, entered into collaboration with Alvotech for expanding sales all across the US.
- Accent Therapeutics, in October 2021, inked an agreement with Ipsen for conducting research regarding spasticity drugs.
What does the Report say?
- The research study is based on diagnosis & treatment type (diagnosis (inpatient and outpatient), treatment type (drug (Baclofen, Tizanidine, Dantrolene sodium, Diazepam, Clonazepam, and Gabapentin), physical therapy, Botulinum injection, surgery treatment, and others)), and devices (reciprocal EMG-triggered stimulation, transcutaneous electrical nerve stimulation, bracing and cuff, leg lifter, cane and crunches, wheelchair, and likewise), 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 transvers myelitis, encephalopathy, brain tumor, Krabbe disease, and John Hopkins Disease), by distribution channel (hospitals pharmacies, retail pharmacies, drug stores, and online pharmacies), and by service providers (hospitals, Ambulatory Surgical Centers, home care settings, specialty clinics, and diagnostic centers).
- Growing incidences of neuro-musculoskeletal disorders are expected to grow on an exorbitant note in the forecast period.
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Key Companies Profiled:
- 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)
- Teva Pharmaceutical Industries Ltd
- Zydus Cadila Healthcare Ltd.
- Beximco Pharmaceuticals Ltd
- Merz Pharma
- Thought Technology Ltd.
- UltraCare PRO
- Invacare Corporation
- ATI Physical Therapy
- P.T. Services Rehabilitation, Inc.
- Banner Health
Key Segments Covered in Spasticity Treatment Industry Research
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
- Drug
- Devices
- Reciprocal EMG-Triggered Stimulation
- Transcutaneous Electrical Nerve Stimulation
- Bracing and Cuff
- Leg lifter
- Cane and Crunches
- Wheelchair
- Others
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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 Transvers 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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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