Benzodiazepine drugs are vastly used as psychoactive drugs,
which can be used to control seizures, alcohol withdrawal symptoms,
and other issues related to the psychological conditions of a human
being. With the activity of drugs closely related to brain
stimulation, the drug can act as a relaxant for muscles in the
body.
WILMINGTON, Del., July 16,
2024 /PRNewswire/ -- Owing to different governing
factors, the development of the benzodiazepine drug
market is expected to traverse a sluggish path of
advancement during the forecasted period. With a CAGR of
3.5%, the industry will proceed to reach USD 3.2 billion by 2034. The last recorded size
of the ecosystem was USD 2.2 billion
in 2023.
With the changing lifestyles and mounting pressures to cope with
an accelerated pace of living, many people have been facing
psychological issues. The growing prevalence of trauma, anxiety,
mental fatigue, and many other psychological conditions is observed
to have increased recently.
To treat such medical conditions, an appropriate relaxant must
be applied to get the desired results. This growing prevalence is a
clear sign of an important driver that promises to elevate the size
of the competitive space during the forecasted period.
The rising geriatric population is contributing to the growing
cases of insomnia. Along with the abovementioned factors, the
growing senior population is trying to find solutions for issues
like sleep deprivation. To cater to such issues, the use of
benzodiazepine drugs is observed to have increased.
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Due to the sedative properties of drugs, the use of such
chemicals is observed to have gained traction in the case of muscle
relaxants. To cater to such muscle spasms and other related issues,
such drugs can be effective. This factor drives the sales of such
drugs.
With the spurring of innovation and growth in the technological
infrastructure, product augmentation has become possible. Key
players in the ecosystem invest more in innovation to alter
formulations of drugs. This elevates drug delivery and response
time, delivering better results.
Rising investments in the pharmaceutical and healthcare
industries have generated better prospects for leading
organizations. As more market openings have been created in the
industry, the scope of expanding the market increases for key
players, benefitting the size of the industry.
The growing research and development activities are expected to
augment the drug efficacy and efficiency, which will likely benefit
the industry. Due to this, such efforts have been fueling the
industry's progress, creating opportunities for new entrants.
Benzodiazepine Drugs Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 2.2 Bn
|
Forecast (Value) in
2034
|
US$ 3.2 Bn
|
Growth Rate
(CAGR)
|
3.5 %
|
No. of
Pages
|
185
Pages
|
Segments
covered
|
By Drug Type, By
Application, By End-user, By Region
|
Key Findings from the Market Report
- The competitive landscape of benzodiazepine drugs can be
segmented into different categories depending on various
parameters. Based on the drug type, Alprazolam is used to control
anxiety issues. The drug controls an abnormal excitement in the
brain.
- Based on the application segment, anxiety is the largest
shareholder in the industry. Due to the changing lifestyle, such
cases are increasing at an alarming rate, gaining more demand for
the segment.
- Based on the time of use, various prolonged cases of such drugs
are seen to have gained momentum. Curing deep psychological impacts
is surging the demand for the segment.
- Based on the end-user, hospital pharmacies govern the largest
market share due to better availability of drugs.
Regional Profile
- The growing awareness of psychological health in Asia-Pacific is creating better prospects for
the global benzodiazepine drug market.
- With the growing drug research activities in Europe, the demand for such drugs will likely
increase due to a larger canvas.
- The progress of the healthcare and pharmaceutical industry in
North America is a key factor in
helping the region lead the global landscape.
Competitive Landscape
- Among different firms expanding in the industry, Pfizer Inc. is
a key player that produces different products to expand. Such
products include aminophylline, etomidate, argatroban injection,
and many more.
- UCB S.A. is another important player producing solutions for
Briviact (brivaracetam) Epilepsy, Ankylosing spondylitis, and
Myasthenia Gravis.
- Hikma Pharmaceuticals PLC operates in different verticals,
including injectables, oral drugs, and other segments.
Key Developments in the Benzodiazepine Drug
Market
- In December 2023, Pfizer Inc.
acquired Seagen. This move bolstered the position of the
organization in the industry.
- In March 2024, UCB S.A. invested
in IMIDomics, Inc. to innovate solutions for immune-mediated
inflammatory diseases. This product launch helped the business
augment products, bolstering the position in the market.
Key Players
- Pfizer Inc.
- UCB S.A.
- Hikma Pharmaceuticals PLC
- Teva Pharmaceutical Industries Ltd.
- H.Lundbeck A/S
- Apotex Inc.
- Aurobindo Pharma
- Purdue Pharma
- Other Prominent Players
Market Segmentation
Drug Type
- Alprazolam
- Clonazepam
- Diazepam
- Lorazepam
- Others (Midazolam, etc.)
Application
- Anxiety
- Insomnia
- Alcohol Withdrawal
- Seizures
- Others (Bipolar Disorder, etc.)
Time of Action
- Ultra-short Acting
- Short Acting
- Long Acting
End User
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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