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HEALTHCARE & PHARMACEUTICAL

Neuromuscular Blocking Drugs Market Segmentation By Drug Class (Pachycurares and Leptocurares); By Drug Group (Non-Polarizing Agents and Depolarizing Agents); By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Drug Stores and E-Commerce) – Global Demand Analysis and Opportunity Outlook 2028

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Extensive insights into the Growth of Neuromuscular Blocking Drugs Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • On April 3, 2020, Hikma Pharmaceuticals PLC, a division of the Hikma Group, announced the launch of its neuromuscular blocking agent, Vacuronium Bromide. The multinational company for generic pharmaceuticals launched this drug in the form of injection in the United States.

Introduction

Neuromuscular blocking drugs cause paralysis of the affected skeletal muscles by blocking neuromuscular transmission at the neuromuscular junction. They are generally used as muscle relaxants which are used extensively during surgeries for mechanical ventilation and to prevent muscle movement. For clinical use, they are used after the patient is administered a pain killer. It acts on the post-synaptic acetylcholine receptors and paralyzes the targeted skeletal muscle. It plays an extremely vital role in successful execution of any surgical procedure. As more number of people are opting for surgical treatments due to their accuracy and reliability, the role of neuromuscular blocking drugs has become increasingly important.

Market Size and Forecast

Rising number of people across the world are opting for surgical treatments on account of increasing disposable incomes and proven accuracy of surgeries. Moreover, the usage of neuromuscular blocking drugs in surgeries is increasing. Owing to these factors, the market is expected to attain a significant CAGR during the forecast period i.e., 2020-2028. The market is segmented by distribution channel into hospital pharmacy, retail pharmacy, drug stores and e-commerce. The hospital pharmacy segment is anticipated to grow at the highest rate on account of accelerating number of clinical consultations in hospitals, increasing geriatric population, increasing investments by the government in healthcare in various countries and growing adoption of surgical treatments at hospitals to cure chronic diseases.

Growth drivers

Rising Surgical Treatments

According to the United Nations Department of Economics and Social Affairs, there are currently 703 million people aged 65 or older, a number which is expected to grow to 1.5 billion by 2050.

Increasing life expectancies in different countries across the world has led to significant growth in the older populations. Countries such as Japan and China contain a higher number of the elderly population due to improved healthcare, political, economic and social conditions. Consequently, complexity of surgical treatment has increased along with the demand for neuromuscular blocking drugs. Owing to the rise in chronic diseases, the acceptance of surgical treatments by medical professionals has further increased. This is predicted to propel the demand for neurological blocking drugs and boost the market growth during the forecast period.CLICK TO DOWNLOAD SAMPLE REPORT

Increasing Research and Development Activities

Increasing investment in neuromuscular blocking drugs research and development to invent sophisticated technology that helps in enhancing the drug performance would help drive the market growth during the forecast period. Safety of the consumer remains the first priority of both the drug makers and medical professionals. Upon development of new classes and combinations of drugs which would have minimum side effects, their safety and efficacy would be enhanced which is estimated to drive the market growth further. Neuromuscular blocking drugs market is anticipated to grow exponentially during the forecast period.

Restraints

High Cost of Drug and Ill-Effects

High cost associated with the surgical treatment and neuromuscular blocking drugs is predicted to adversely affect the growth of the market over the forecast period. Some of the side effects of neuromuscular blocking drugs include dysrhythmia, muscle pain, hyperkalemia, cardiac arrest and prolonged paralysis among others. Hence, it is estimated to hamper the market growth during the forecast period. The stringent regulatory environment associated with the negative side effects of the drug are further predicted to hinder the market growth.

Market Segmentation

Our in-depth analysis of the neuromuscular blocking drugs market includes the following segments:

By Drug Class:

  • Pachycurares
  • Leptocurares

By Drug Group:

  • Non-polarizing agents
  • Depolarizing agents

By Distribution Channel:

  • Hospital Pharmacy
  • E-Commerce
  • Retail Pharmacy
  • Drug Stores

By Region:

On the basis of regional analysis, the neuromuscular blocking drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market for North America is anticipated to hold the largest market share on the back of high geriatric population, increasing research and development initiatives by the government, increasing safety and efficacy of the drug and more number of people opting for surgical treatments. On the other hand, the market in Asia Pacific is anticipated to record the highest CAGR on the back of growing geriatric population, increasing investments in the healthcare sector and increasing research and development initiatives in the region.

Neuromuscular Blocking Drugs Market Graph

The global neuromuscular blocking drugs market is further classified on the basis of regions as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

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