by Benzodiazepine drugs are psychoactive drug that are used to treat disorders such as anxiety, insomnia, panic disorder, and alcohol addiction. These drugs provide a soothing effect by enhancing the neurotransmitter GABA. The use of benzodiazepine drugs has served many people to balance their anxiety syndrome and lead a normal life. Taking into consideration the current scenario of stressful and hectic lifestyle, the benzodiazepine drugs market is anticipated to grow at a rapid rate.
According to the recent studies by World Health Organization (WHO), there is a substantial increase in cases of anxiety disorders among male and female population. However, the percentage of female population with anxiety disorder is more as compared to male population. These statistics have been vital in driving the growth parameters of the benzodiazepine drugs market.
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Rapid urbanization and modern work culture have a significant influence on the mental health of people.. There is noteworthy increase in issues such as insomnia, anxiety, and depression due to excessive use of technology and high work pressure. Furthermore, the geriatric population is suffering largely with sleep and panic disorders. Rise in awareness among the masses about the importance of mental health has boosted the demand for diagnosis and medication. In addition, sizable demand for therapies such as cognitive behavior therapy (CBT) and effective anti-depressants is observed in the recent years. The aforementioned factors are creating substantial growth prospects in the benzodiazepine drugs market.
The benzodiazepine drugs market has been categorized into long acting, short acting and ultra-short acting. Players in the benzodiazepine drugs market are focusing strengthening their distribution channels, which include hospitals, pharmacies, retail pharmacies, online and mail pharmacies.
The key market players are investing in R&D activities to enhance the effectiveness of benzodiazepine drugs used for sedation, inducing sleep, and anxiety reduction with minimal side effects. Moreover, companies are investing in small start-ups and using varied strategies such as mergers, acquisitions, joint ventures, and partnerships in order to maintain their dominance in the benzodiazepine drugs market.
Benzodiazepine Drugs Market – Snapshot
Benzodiazepines is a class of psychoactive drugs that are used to treat anxiety, insomnia, panic disorder, seizures, and alcohol withdrawal. These drug produce a calming effect by enhancing the effect of the neurotransmitter GABA. Benzodiazepines are widely prescribed drugs across the world. They are helpful to reduce anxiety, seizures, relax muscles, inducing sleep, and used for sedation purposes prior to surgery or general anesthesia. The global benzodiazepine drugs market was valued at around US $ 2,055 Mn in 2017. It is expected to expand at a CAGR of 2.7% from 2018 to 2026. The Alprazolam segment dominates the global market in terms of value. The market for benzodiazepine drugs is expanding significantly due to the rise in prevalence of anxiety, seizures, insomnia, and increase in concern among people about preventive measures regarding stress-related conditions. Increased adoption of generic drugs and comparatively higher prescriptions for benzodiazepines, as compared to other psychoactive drugs, also drive the market.
benzodiazepine drugs market
The benzodiazepine drugs market has been segmented based on product, application, time of action, distribution channel, and region. Based on product, the global market has been divided into Alprazolam, Clonazepam, Diazepam, Lorazepam, and others. The Alprazolam segment dominated the global market in 2017. It is projected to expand at a higher CAGR due to more number of prescriptions and wide applications in anxiety and seizures. Based on application, the global benzodiazepine drugs market has been classified into anxiety, insomnia, alcohol withdrawal, seizures, and others. Anxiety was the dominant segment of the market in 2017. It is expected to expand at a higher CAGR, owing to the rise in prevalence of anxiety and panic disorders and the better calming effect produced by benzodiazepines. In terms of time of action, the global benzodiazepine drugs market has been classified into ultra-short acting, short acting, and long acting. The short acting segment dominated the market in 2017. It is expected to maintain its position due to less hangover effect and faster onset of action. Based on distribution channel, the global benzodiazepine drugs market has been segregated into hospital pharmacies, retail pharmacies, and others. The others segment, which comprises online pharmacies and mail pharmacies, is projected to expand at a significantly higher CAGR during the forecast period. This expanded CAGR is attributed to discounted prices and convenience of usage.
In terms of region, the global benzodiazepine drugs market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global benzodiazepine drugs market in 2017, owing to the rise in prevalence of anxiety and related conditions and higher FDA approvals of benzodiazepine drugs by major players in the region. Asia Pacific and Latin America are potential markets for benzodiazepine drugs due to increased awareness of people toward healthcare, stress conditions, and surge in healthcare expenditure.
Key players operating in the global benzodiazepine drugs market include Pfizer Inc., F.Hoffmann-La Roche Ltd., Bausch Health Companies, Inc., Mylan, N.V., Teva Pharmaceutical Industries Ltd., H.Lundbeck A/S, Amneal Pharmaceuticals LLC, Sun Pharmaceutical Industries Ltd., Apotex Inc., and Aurobindo Pharma.
Increasing Prevalence of Anxiety and Insomnia Disorders Draws Demand in Benzodiazepines Drugs Market
Global benzodiazepines drugs market is on a steady rise owing to the rising prevalence of anxiety disorders and increased levels of stress in global population. Stressful and fast paced lifestyles along with unhealthy work life balance are some of the contributory factors that precede mental health disturbances. Rising number of millennial population is prone to depression and comorbid anxiety disorders. According to a report issued by the World Health Organization (WHO) in 2015, the estimated number of people suffering from anxiety disorders around the world was 264 million at the time. Unhealthy social comparisons enabled by extended usage of social networking platforms among teenagers and millennials is one of the factors contributing to this growth in mental health disorders. Growing global geriatric population and high prevalence of insomnia or other sleep disorders are some of the key motivators for global benzodiazepines drugs market.
Products in global benzodiazepines drugs market are used for sedation, sleep inducing, and reducing anxiety. They can be both, short acting or long acting, depending on the type of product. Short acting drugs have greater risk of patient suffering from withdrawal symptoms. However, they work really well in the treatment of panic disorders. Long acting drugs in benzodiazepines drugs market have longer half-life, so the drug remains in the system for a longer time, working slowly. Withdrawal symptoms for long acting drugs are not as intense as the short acting ones, as they give the patient a prolonged period of time to adjust to the drug leaving the system. Use of products in benzodiazepines drug market assists countless people to manage their anxiety and lead a normal and safe life. However, benzodiazepine drugs can be abused as it induces sleep and causes sedation. Instances of benzodiazepine overdose can lead to the death of the consumer. These factors may hinder the growth in benzodiazepines drugs market.
The benzodiazepine drugs market has been segmented as follows:
Product
- Alprazolam
- Clonazepam
- Diazepam
- Lorazepam
- Others (Clobazam, Temazepam, Midazolam, Chlordiazepoxide, Clorazepate, Estazolam, Flurazepam, Oxazepam, Triazolam, and Quazepam)
Application
- Anxiety
- Insomnia
- Alcohol Withdrawal
- Seizures
- Others (Muscle spasm, panic disorders, general anesthesia, depression, Lennox-Gastaut syndrome, and maniac conditions)
Time of Action
- Ultra-short Acting
- Short Acting
- Long Acting
Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Others (Online Pharmacies, Mail Pharmacies, and Home Care Pharmacies)
Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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