Transparency Market Research (TMR) has published a new report
titled, “Benzodiazepine Drugs Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2018–2026”. According to the report, the global benzodiazepine drugs market was
valued at US $ 2,057.19 Mn in 2017. It is projected to expand at a CAGR of 2.7%
between 2018 and 2026. The benzodiazepine drugs market is projected to expand
during the forecast period owing to the rise in prevalence of anxiety,
seizures, and increase in concerns among people about preventive measures for
stress-related conditions. Moreover, higher prescriptions for benzodiazepine drugs,
as compared to other psychoactive drugs, and increase in rate of adoption of
generic drugs are propelling the global benzodiazepine drugs market. North
America is expected to dominate the global benzodiazepine drugs market due to
more FDA approvals for benzodiazepine drugs in the region. Latin America and
Asia Pacific are potential markets for benzodiazepine drugs. The market in Asia
Pacific is projected to expand at a CAGR of 3.5% during the forecast period.
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Increase in prevalence of anxiety
disorders, insomnia, seizures and comparatively higher number of prescriptions
for benzodiazepines to drive the global market
Rise in prevalence of anxiety and seizures is a major driver of
the global benzodiazepine drugs market. Current lifestyle and urban life have
made peoples’ lives more stressful, which leads to mental disorders such as
depression, anxiety, panic, and maniac conditions. Psychoactive drugs, such as
benzodiazepine, are required to relieve these conditions and attacks. For
instance, according to WHO, in 2015, the total number of people living with anxiety
disorders, globally, was 264 million. Similarly, higher number of prescriptions
for benzodiazepines, as compared to other psychoactive drugs, and increase in
rate of adoption of generic drugs are major drivers of the global
benzodiazepine drugs market.
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Alprazolam to be highly lucrative
segment
Alprazolam is expanding segment of the benzodiazepine drugs
market. It is projected to account for 29.35% share of the market, and expand
at a CAGR of 2.9%, during the forecast period. The segment is anticipated to
reach a value of US$ 768.09 Mn by 2026. Extensive utilization of Alprazolam in
anxiety and panic disorders and higher number of prescriptions of Alprazolam
for these conditions are likely to drive the segment of the global market
during the forecast period.
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Anxiety to be dominant segment
Anxiety was a dominant segment of the global benzodiazepine drugs
market in 2017. It is expected to maintain its position during the forecast
period. The segment is anticipated to reach a value of US$ 1,384.12 Mn by 2026.
It is projected to account for 52.9% share of the market and expand at a CAGR
of 3.1% during the forecast period. Benzodiazepine drugs are preferred to
control the symptoms and general anxiety. Therefore, a rise in the prevalence
of anxiety across the globe drives the segment. For instance, according to Anxiety
and Depression Association of America (ADAA), around 40 million adults are
affected every year with anxiety disorders, of which only 36.9% receive
treatment.
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Ultra-short Acting to be promising
segment
In terms of time of action, the global market has been segmented
into ultra-short acting, short acting, and long acting. The short acting
segment held a major share of the global market in 2017. It is projected to
maintain its leading position in the market during the forecast period. The
short acting segment is projected to hold 77.1% share of the market by 2026.
However, the ultra-short acting segment is anticipated to expand at a CAGR of
3.1% during the forecast period. Expansion of the segment can be attributed to
the rise in popularity due to its pharmacokinetic activity and less chance for
developing drug dependency.
Others distribution channel to be
promising segment
In terms of distribution channel, the global market has been
classified into hospital pharmacies, retail pharmacies and others. The retail
pharmacies segment held a major share of the global market in 2017. It is
estimated to maintain its position in the global market during the forecast
period. The retail pharmacies segment is projected to hold 54.12% share of the
market and expand at a CAGR of 2.8% during the forecast period. However, the others
segment, which includes online pharmacies and mail pharmacies, is highly
lucrative. It is expected to expand at a higher CAGR of 3.0% during the
forecast period owing to better discount rates on online platforms and
popularity owing to convenience.
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North America expected to dominate
global market
In terms of region, the global benzodiazepine drugs market has
been segmented into five major regions as North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America dominated the global
market in 2017. The market in North America is likely to expand at a CAGR of
2.2% during the forecast period. The market in North America was valued at US$
781.73 Mn, and the region accounted for 38.0% share of the global market, in
2017. This was due to the rise in prevalence of anxiety, panic disorders, and
higher FDA approvals for benzodiazepine drugs by major players in the region.
The anxiety segment dominated the market in the region. It is projected to
expand at a CAGR of 2.6% during the same period. Asia Pacific is a highly lucrative
market. It is anticipated to expand at a CAGR of 3.5% during the forecast
period due to a rise in the prevalence of anxiety disorders, seizures,
increased awareness among people about healthcare, and rise in health care
expenditure in the region.
Pfizer Inc. and F.Hoffmann La
Roche Ltd. among major players in global market
The global benzodiazepine drugs market is fragmented in terms of
number of players. Key players operating in the global market include Pfizer
Inc., F.Hoffmann-La Roche Ltd., Bausch Health Companies, Inc., Mylan, N.V.,
Teva Pharmaceutical Industries Ltd. and H.Lundbeck A/S. More FDA approvals are
received by these major players in North America for benzodiazepine drugs.
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