Global Antispasmodics Drugs Market – Industry Trends and Forecast to 2030

Antispasmodics Drugs Market Analysis and Size

The expansion of the pharmaceutical industry is anticipated to enhance the antispasmodics medicines market in the coming years. An increase in the occurrence of irritable bowel syndrome is anticipated to help the antispasmodics therapeutics industry in the coming years. The market is pushed by several factors such as the increasing incidence of irritable bowel syndrome and the greater adaptation of a sedentary lifestyle. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the antispasmodics drugs market in the forecast period 2022-2030. The expected CAGR of antispasmodics drugs market is tend to be around 9.2% in the mentioned forecast period. The market value is USD 12.67 billion in 2022, and is expected to grow upto USD 25.61 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Antispasmodics Drugs Market Scope and Segmentation

Market Definition

Antispasmodics drugs belongs to a class of therapeutics that causes suppression of muscle spasms. These type of drugs help in the stimulation of smooth muscle relaxation, especially in the gastrointestinal tract. Antispasmodic medications generally treat symptoms such as stomach pain and cramping. They are most commonly used for the treatment of irritable bowel syndrome symptoms.  

Antispasmodics Drugs Market Dynamics

Drivers

• Increased Medical Research and Evolution of Drugs

With the increasing development of medicine, new drugs are being launched to boost the treatment process and improve the quality of the therapy and reduce side effects. In this regards, huge medical research and development and growing understanding of pharmacological characteristics and their potential usage in treating chronic diseases are anticipated to boost the market growth. These developed methods and techniques will boost the market growth by launching several medications to treat life-threatening disorders.

• Increasing Demand for Oral Drugs

Oral drugs is anticipated to boost the market growth. The segment is anticipated to increase the global market as most of the products are accessible in capsule and tablet form and it is a very common and convenient route of administration.

Opportunities

• Increased Elderly Population

The number of elderly population is increasing, which means that the challenges that elderly people confront are also rising. This has resulted in the wide use of medicines that help in treating different ailments. Thus, the market for antispasmodics medications is projected to expand. The proportion of the world's population between the age group of 60 years and up will nearly double from 12 to 22 % between 2015 and 2050. The number of people aged 60 and more will overpower young people under five by 2030. It is expected that by 2050, 80% of the world's elderly will live in low- and middle-income countries. Thus, these elderly population will demand more of these drugs and hence the market will increase.

• Growing Demand for Retail Pharmacies

Rise in the number of antispasmodics drugs being delivered through retail pharmacies and increase in the number of retail pharmacies in highly developed countries create opportunities for the market growth. Additionally, patients choose retail pharmacies for purchasing drugs, as these are easily available.

 Restraints/Challenges

• Lack of skilled professionals

The immense lack of qualified personnel who are unable to treat the patients with these agents could restrict the growth of the global antispasmodics drugs market during the forecast period.

• Side-effects of antispasmodics market

Numerous side effects such as weakness, drowsiness, dizziness, blurred vision, dry eyes, nausea, constipation, dry mouth, and abdominal bloating impede the market growth. Any of the drug use is limited due to the government developed guidelines to monitor how and where the medications are utilized.

This antispasmodics drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the antispasmodics drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Antispasmodics Drugs Market Scope

The antispasmodics drugs market is segmented on the basis of indication, drug, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drug

• Dicyclomine Hydrochloride
• Loperamide Hydrochloride
•  Others

Indication

• Irritable Bowel Syndrome
• Stomach Cramps
• Others

Route of Administration

• Oral
• Parenteral
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Antispasmodics Drugs Market Regional Analysis/Insights

The antispasmodics drugs market is analyzed and market size insights and trends are provided by indication, drug, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the antispasmodics drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has been witnessing a positive growth for antispasmodics drugs market throughout the forecasted period because of the increasing occurrence of asthma, and severe pain and increased drug abuse. Additionally, the industry is being boosted by a huge population, increasing disposable income, and rising patient awareness.

Asia-Pacific dominates the market because of the increasing attention of major market players to establish numerous emerging economics with significant growth. With the opening of several new hospitals and pharmacies in this area. Medication research, development, and distribution are all managed by the pharmaceutical business. Globally, pharmaceutical industries revenues were 1.27 trillion US dollars in 2020, representing that the market has grown majorly over the last two decades. Furthermore, increasing healthcare spending and government initiatives are two aspects boosting the industry.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Antispasmodics Drugs Market Share Analysis

The antispasmodics drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to antispasmodics drugs market

Key players operating in the antispasmodics drugs market include:

• Takeda Pharmaceutical Company Limited (Japan)
• Johnsons & Johnsons Services Inc (U.S.)
• Boehringer Ingelheim International GmbH (Germany)
• Abbvie, Inc (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Sanofi (France)
• GSK Plc. (U.K.)
• Novartis AG (Switzerland)
• Pfizer Inc. (U.S.)
• Amneal Pharmaceuticals LLC. (U.S.)
• Alvogen (U.S)
• Hikma Pharmaceuticals PLC (U.K.)
• Daiichi Sankyo, Inc (Japan)
• Fresenius Kabi Ag (Germany)
• Shanghai Fosun Pharmaceutical Ltd (Japan)

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