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Muscle Relaxant Drugs Market Trends, Drivers, and Growth Opportunities
The global muscle relaxant drugs market is expected to grow with a CAGR of 5.5% during 2015 - 2020.
The global muscle relaxant drugs market is growing, due to increasing aging population, increasing incidences of skin diseases and harmful effects of ultra violet radiation. In addition, the increasing usage of neuromuscular blocking agents in surgeries, and increase in disposable income are also driving the growth of the global muscle relaxant drugs market.
The increasing aging population is propelling the growth of the global muscle relaxant drugs market, since the elder population is more prone to illness due to low immunity levels, and high recovery time consumption. Old age is associated with the loss of fibrous tissue, and reduced vascular and glandular network in the layers of skin. In the elderly population, the appearance and characteristics of the skin gets altered, leading to wrinkles, appearance of frown lines, dryness, pigmentary alteration, and sagging of the skin. The muscle relaxant-based procedures help in reducing skin aging, thus giving younger look to a person by revitalizing and tightening the skin.
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However, the high capital expenditure, stringent regulatory requirements, and risks associated with muscle relaxants are inhibiting the growth of the global market. The tradition of online shopping for muscle relaxant drugs and their increasing usage in cosmetic industry are the major trends observed in the global muscle relaxant drugs market.
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Geographically, North America dominated the global market of muscle relaxant drugs in 2014; whereas the Asian market is expected to witness the fastest growth during the forecast period.
The key companies operating in the global muscle relaxant drugs market include F. Hoffmann-La Roche Ltd., Johnson & Johnson, GlaxoSmithKline plc, Intas Pharmaceuticals Ltd., Pfizer Inc., Galderma S.A., and Merck & Co. Inc.
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