Global Antispasmodics Drugs Market Size

What Will The Antispasmodics Drugs Market Look Like In 2023?

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s antispasmodics drugs market report forecasts the antispasmodics drugs market size to grow to $17.68 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Antispasmodics Drugs Market Size Forecast
The global antispasmodics drugs market is expected to grow from $11.56 billion in 2022 to $12.63 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global antispasmodics drugs market size is expected to grow to $17.68 billion in 2027 at a CAGR of 8.8%.

North America held the largest antispasmodics drugs market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Antispasmodics Drugs Market Driver ­– Increase In Elderly Population
According to the World Health Organisation (WHO), a Switzerland-based organisation responsible for international public health, the global proportion of people aged 60 and older will climb from 1 billion in 2020 to 1.4 billion in 2030 by October 2022. By 2050, the world’s population of people aged 60 and up will have doubled (to 2.1 billion). The number of persons aged 80 and more is expected to more than double between 2020 and 2050, reaching 426 million. As a result, the antispasmodic medicine market will be driven by a rise in the senior population.

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Key Antispasmodics Drugs Market Trend – Product Innovations
Major players in the antispasmodic medications market are focusing on providing unique solutions to increase their market position. For example, in April 2022, Ardelyx Inc., a biopharmaceutical company based in the United States, announced the launch of IBSRELA, an NHE-3 inhibitor used to treat people suffering from irritable bowel syndrome with constipation (IBS-C). According to Phase 3 clinical tests, the medication provides a distinct new therapy option with a novel mode of action and exceptional beneficial outcomes in addressing constipation and various gastrointestinal symptoms common in IBS-C patients.

Antispasmodics Drugs Market Segment
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

Antispasmodics Drugs Market Major Players and Strategies
Major players in the antispasmodics drugs market are Daiichi Sankyo Company Limited, Fresenius Kabi AG, Hikma Pharmaceuticals Plc., Johnsons & Johnsons 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, Ambrosia Supherb Ltd., B Joshi Agrochem Pharma, Blue Cross Laboratories Pvt. Ltd., Dr. Reddys Laboratories Ltd., GlaxoSmithKline Plc., Lexicare Pharma Pvt. Ltd., Solitaire Pharmacia Private Limited, Strides Pharma Science Limited, Wellona Pharma Private Limited, and SunGen Pharma LLC.

Silo Wellness Inc., a psychedelic therapy company based in the United States, finalised the acquisition of Dyscovry Science Ltd. for an unknown sum in October 2022. Silo Wellness’ acquisition of Dyscovry Science Ltd will enable it realise its goal of encompassing both tracks of the psychedelic business under one roof. Dyscovry Science Ltd. is a biotechnology company established in Canada that specialises in the biosynthesis of psilocybin and its derivatives for the treatment of irritable bowel syndrome.

The Antispasmodics Drugs Global Market Report 2023 covers regional data on antispasmodics drugs market size, antispasmodics drugs market trends and drivers, opportunities, strategies, and antispasmodics drugs market competitor analysis. The countries covered in the antispasmodics drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Antispasmodic pharmaceuticals are those that treat, prevent, or lessen the frequency of muscular spasms, especially those of smooth muscle, such as those in the gut wall. It works by slowing the regular motions of the gut and relaxing the stomach and intestine muscles.

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