Global Antispasmodics Drugs Market Segments 2024, Forecast To 2033
5 Mar, 2024
The antispasmodics drugs market, growing strongly, will increase from $12.69 billion in 2023 to $13.92 billion in 2024, with a CAGR of 9.7%. Historic growth is attributed to the rising prevalence of spasmodic conditions, advancements in medical research, a growing aging population, changing lifestyles, and improvements in diagnosis. The forecast period anticipates strong growth to $20.04 billion in 2028 (CAGR of 9.5%), driven by increasing healthcare expenditure, personalized medicine, global population growth, emerging markets, clinical trials and research. Key trends include expanding indications for antispasmodics, healthcare infrastructure development, advancements in drug development, increasing awareness and diagnosis, and a preference for non-invasive treatment options.
Global Antispasmodics Drugs Market Key Driver
The antispasmodic drug market is poised for growth driven by the increasing elderly population. People aged 65 and older, facing various physical and psychological health issues, benefit from antispasmodic drugs. These medications help manage symptoms related to conditions causing muscle spasms or cramping, such as irritable bowel syndrome and gastroesophageal reflux disease. The World Health Organization predicts a doubling of the global population aged 60 and over by 2050. This demographic shift indicates a substantial market for antispasmodic drugs to address the health needs of the elderly population.
Get A Free Sample Of The Global Antispasmodics Drugs Market ReportGlobal Antispasmodics Drugs Market Segments
The antispasmodics drugs market covered in this report is segmented –
1) By Drug: Dicyclomine Hydrochloride, Loperamide Hydrochloride, Other Drugs
2) By Indication: Irritable Bowel Syndrome, Stomach Cramps, Other Indications
3) By Route Of Administration: Oral, Parenteral, Other Modes Of Administrations
4) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmnacy
5) By End-User: Hospitals, Homecare, Specialty Clinics, Other End-Users
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the antispasmodics drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the antispasmodics drugs market report during the forecast period. The regions covered in the antispasmodics drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Antispasmodics Drugs Industry Players
Daiichi Sankyo Company Limited; Fresenius Kabi AG; Hikma Pharmaceuticals plc; Johnson & Johnson Services Inc.; Pfizer Inc.; Shanghai Fosun Pharmaceutical Co. Ltd.; Takeda Pharmaceutical Company Limited; Akorn Inc.; Aurobindo Pharma Limited; Lannett Company Inc.; Nexus Pharmaceuticals Inc.; Actiza Pharmaceutical Private Limited; Blue Cross Laboratories Pvt. Ltd.; Dr. Reddy's Laboratories Ltd.; Lexicare Pharma Pvt. Ltd.; Solitaire Pharmacia Private Limited; Strides Pharma Science Limited; Wellona Pharma Private Limited; SunGen Pharma LLC; GlaxoSmithKline plc; Novartis AG; Sanofi SA; AstraZeneca plc; Merck & Co. Inc.; Bayer AG; Teva Pharmaceutical Industries Ltd.; Endo Pharmaceuticals Inc.; Sun Pharmaceutical Industries Ltd.; Cipla Ltd.; Lupin Ltd.
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AIOps Antispasmodics Drugs Market Overview
Antispasmodic drugs are medications that treat, prevent, or reduce the frequency of muscular spasms, particularly those of smooth muscle, such as those in the gut wall. It works by slowing the normal motions of the gut and relaxing the muscles of the stomach and intestines.
Antispasmodics Drugs Global Market Report 2023 provides data on the global antispasmodics drugs market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The antispasmodics drugs market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.