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Rising number of road accidents owing to lack of adequate facilities increases the growth of the Metaxalone Market
HYDERABAD, TELANGANA, INDIA, November 29, 2022/EINPresswire.com/ — Metaxalone Market size is estimated to reach $5,770 million by 2026, growing at a CAGR of 6% during 2021-2026 forecast period. Metaxalone is a muscle relaxant medication that is administered orally and is used to reduce pain and relax muscles which is caused by strain and other musculoskeletal conditions. Metaxalone works by blocking nerve impulses in the brain and is used as muscle relaxation method. Metaxalone is also called skelaxin which is used for muscle spasms and musculoskeletal pain. Metaxalone is also a mixture of two enantiomers such as R- metaxalone and X-metaxalone which is approved by the Food and Drug Administration (FDA). The chemical name of metaxalone is oxazolidinone which acts in the central nervous system to produce the muscle relaxant effects. Growing number of musculoskeletal disorders among people and growing number of road accidents is the major factor driving the growth of this market. Furthermore, increasing research and development activities regarding drugs and rising geriatric population is set to further enhance the overall market demand for Metaxalone Market for the period 2021-2026.
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Geographically, in 2020, North America dominated the Metaxalone Market owing to presence of advanced healthcare system and rising development in pharmaceutical industry.
Growing number of musculoskeletal disorders among people and growing number of road accidents are likely to aid in the market growth of the Metaxalone.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Metaxalone Market report.
Increasing side effects is set to create hurdles for the Metaxalone Market
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Metaxalone Segment Analysis – By Indication: The global Metaxalone Market based on Indication can be further segmented into Bone Pain, Muscle Pain, Tunnel Syndrome, Joint Pain, and Others. The Bone Pain segment is the major segment generating revenue in 2020. This is owing to increasing cases of arthritis owing to unhealthy lifestyle. Moreover, increasing outdoor activities increases the demand of metaxalone. The Muscle Pain segment is estimated to register the fastest CAGR of 2.5% for the period 2021-2026. Metaxalone is considered as muscle relaxant which is used to reduce musculoskeletal pain and hence the growth of the segment is rising.
Metaxalone Segment Analysis – By End-Use Industry: The global Metaxalone Market based on End-Use Industry can be further segmented into Hospitals, Clinics, and Others. The Hospital segment registers for the Metaxalone highest market share in 2020. This is owing to easy accessibility of hospital and higher selling capacity. Moreover, owing to the availability of skilled professionals, patients can prefer hospitals and are rising the growth of this segment. The Clinics segment is estimated to register the fastest CAGR of 1.5% over 2021-2026. This is mainly owing to clinics that are opened for more time increasing the selling capacity and also provide fast service which increases the demand of metaxalone and leading to market growth.
Metaxalone Segment Analysis – By Geography: North America dominated the Metaxalone Market with major share of 40% in 2020. This is owing to presence of advanced healthcare system and rising development in pharmaceutical industry. According to American Hospital Association, in 2019 about 6,090 hospitals are identified that focus on the development in healthcare system and are leading to the rising the growth of this segment. However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 2% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.
The top 5 players in the Metaxalone industry are:
2. Chunghwa Chemical Synthesis & Biotech Co., Ltd.
3. Sigma-Aldrich Co. LLC
4. CDI Technology
5. Angelini S.p.A.
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