Neuromuscular Blocking Drugs Market size was valued at USD 5.34 billion in 2023 and is set to exceed USD 9.35 billion by 2036, registering over 4.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of neuromuscular blocking drugs is evaluated at USD 5.53 billion.
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,
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.
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.
Challenge
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 neuromuscular blocking drugs 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.
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
4.4% |
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Base Year Market Size (2023) |
USD 5.34 billion |
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Forecast Year Market Size (2036) |
USD 9.35 billion |
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Regional Scope |
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The neuromuscular blocking drugs 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.
Our in-depth analysis of the global market includes the following segments:
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By Drug Class |
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By Drug Group |
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By Distribution Channel |
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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 industry is likely to account for largest revenue share by 2036, backed by 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 neuromuscular blocking drugs 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.
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.
Author Credits: Radhika Pawar
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