Global Benzodiazepine Drugs Market – Industry Trends and Forecast to 2029

Benzodiazepine Drugs Market Analysis and Size

The benzodiazepine drugs market is expected to witness significant growth during the forecast period. The growth of benzodiazepine drugs market enhanced by the growing cases of mental illness such as dementia and schizophrenia and the rise in research and development activities conducted by many pharmaceutical companies. Growing cases of severe pain associated with cancer and arthritis drive the narcotic drug market. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the benzodiazepine drugs market in the forecast period 2022-2029. The expected CAGR of global benzodiazepine drugs market is tend to be around 3.50% in the mentioned forecast period. The market was valued at USD 2.96 billion in 2021, and it would grow upto USD 3.9 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Benzodiazepine drugs, also known as benzos or tranquilizers, are the class of psychoactive therapeutics that are widely used to concomitant relief from the symptoms of psychosis and other mental illness by stimulating the activity of gamma-aminobutyric acid of the brain which results in the sedative-hypnotic as well as muscle relaxant properties. It is of great importance to the healthcare sector and it is expected to grow in the forecast period.  

Benzodiazepine Drugs Market Scope and Segmentation

Global Benzodiazepine Drugs Market Dynamics

Drivers

• Increase in Anxiety Disorders

According to WHO, approximately 264 million are living with anxiety disorders globally in the year 2015. Anxiety disorders are more witnessed among females than males which estimates to be around 4.6% in females and 2.6% in males at the global level. This boost the market growth.

• Rising Demand for Oral Drugs

Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.

Opportunities

• Technological Advancements

Several technological advancements associated with benzodiazepine drugs market are really creating more opportunities in the expansion of the market. For instance, Xeris Pharmaceuticals, announced positive results out of their Phase 1b weight-based dosing study in Apr 2020, with regards to the diazepam intramuscular (IM) injection by using XeriSol technology.

• Increasing Demand for Retail Pharmacies

The rise in the number of benzodiazepine drugs delivered through retail pharmacies and the surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

 Restraints/Challenges

• Lack of skilled professionals

The lack of qualified personnel who are unable to treat the patients with these agents could curb the growth of the global benzodiazepine drugs market over a forecast period.

• Intake of Drugs Without Proper Guide

The improper intake of these drugs without appropriate medical advice may prove to be dangerous for the population. For instance, overdose of benzodiazepines has resulted in 6,507 deaths in the US since the year 2010. Additionally, a study conducted in Sweden revealed that benzodiazepines are the drugs with the majority of illegal prescriptions.

This global benzodiazepine drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global benzodiazepine drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Benzodiazepine Drugs Market         

Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Its long-term repercussions are expected to influence industry growth during the forecast period. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials. A number of general hospital psychiatric wards have been changed into COVID-19 wards, so many severely ill people are moved out.

In the post-pandemic era, changes are witnessed in these patterns such as increased wards being divided and non-covid patients being equally categorised. The socioeconomic stressors have also boosted the demand for these drugs. Thus, this will leave a significant impact on the narcotic drugs market.

Recent Developments

Janssen Pharmaceutical received approval from the European Commission (EC) in November 2021 for long-acting atypical antipsychotic therapy BYANNLI which is used as a treatment for patients, preferably adults, suffering from schizophrenia, who are clinically stable on 1-monthly paliperidone palmitate or 3-monthly paliperidone palmitate.

Global Benzodiazepine Drugs Market Scope

The benzodiazepine drugs market is segmented on the basis of indication, drug class, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Indication

• Anxiety
• Insomnia
• Alcohol Withdrawal
• Seizures
• Others

Drug Class

• Ultra-Short Acting
• Short Acting
• Long Acting

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Benzodiazepine Drugs Market Regional Analysis/Insights

The benzodiazepine drugs market is analysed and market size insights and trends are provided by indication, drug class, distribution channel and end-user as referenced above.

The major countries covered in the benzodiazepine drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has been witnessing a positive growth for benzodiazepine drugs market throughout the forecasted period due to the high prevalence of mental illness and increase in number of FDA approval drugs.

Asia-Pacific dominates the market due to the developing healthcare facilities, large number of generic manufacturer and rise in government initiatives and specialist communities

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Benzodiazepine Drugs Market Share Analysis

The benzodiazepine drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to benzodiazepine drugs market

Key players operating in the benzodiazepine drugs market include:

• Boehringer Ingelheim International GmbH (Germany)
• AbbVie Inc  (Ireland)
• Sun Pharmaceutical Industries Ltd. (India)
• Sanofi (France)
• GlaxoSmithKline Plc. (U.K.)
• Novartis AG (Switzerland)
• Pfizer Inc. (U.S.)
• Amneal Pharmaceuticals LLC. (U.S.)
• Alvogen (U.S)
• Hikma Pharmaceuticals PLC (U.K.)
• Mylan N.V. (U.S.)
• Bayer AG (Germany)
• Otsuka Pharmaceutical Co., Ltd (Japan)
• Dr. Reddy's Laboratories Ltd (India)
• Endo International plc (Ireland)
• Teva Pharmaceutical Industries Ltd (Israel)
• Aurobindo Pharma (India)
• Torrent Pharmaceuticals Ltd (India)

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