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Market Overview:
Benzodiazepines are a class of psychoactive drugs
belonging to the benzodiazepine family. These drugs are prescribed for various
medical conditions such as anxiety disorders, panic disorders, insomnia,
seizures, alcohol withdrawal syndrome, muscle spasms, and as an anesthesia aid.
Some common examples of benzodiazepines include alprazolam, clonazepam,
diazepam, and lorazepam. These drugs work by increasing the action of
gamma-aminobutyric acid (GABA), a major inhibitory neurotransmitter in the
central nervous system. Due to their calming properties, they are widely used
to treat insomnia, anxiety, panic attacks, agitation, seizures, muscle spasms,
and alcohol withdrawal.
Market Dynamics:
The Benzodiazepine Drugs Market is primarily driven by the rising
prevalence of anxiety disorders worldwide. As per Anxiety and Depression
Association of America, anxiety disorders are the most common mental illness in
the U.S., affecting nearly 40 million adults, or 18%, annually. According to
National Alliance on Mental Illness (NAMI), anxiety disorders are among the
most common mental health conditions in the U.S., affecting an estimated 31% of
adults in the country at some point in their lives. To combat growing anxiety
and panic disorders, benzodiazepine drugs remain commonly prescribed and are
increasingly recognized as the mainstay of treatment.
Another driver aiding the market growth is growing preference for
benzodiazepines over short-acting antidepressants to treat mental health
disorders like anxiety, panic disorders, and depression. While short-acting
antidepressants may take several weeks to provide relief from anxiety and
depression symptoms, benzodiazepines work immediately to reduce symptoms and
improve mood by increasing the action of gamma-aminobutyric acid in the brain.
This makes benzodiazepines a preferred option for the short-term treatment in anxious
and depressive patients.
Segment Analysis
Content: The global benzodiazepine drugs market is segmented based on drug
class, application, distribution channel, and region. Alprazolam dominates the
drug class segment owing to its high prescription rates for the treatment of
anxiety disorders and panic attacks.
PEST Analysis
Content: Political: Drug manufacturing regulations are expected to become
more stringent over the forecast period. Economic: Increasing healthcare
spending across developing regions will boost market growth. Social: Rising
prevalence of anxiety and insomnia disorders will drive the demand for
benzodiazepine drugs. Technological: Technology advancements are resulting in
the development of long-acting and abuse-deterrent benzodiazepine formulations.
Key Takeaways
The global Benzodiazepine
Drugs Market Size was valued at US$ 3148.01 Mn in 2023 and is expected
to reach US$ 4554.21 Mn by 2030, expanding at a CAGR of 3.2% during the forecast period. The growth can be
attributed to the rising geriatric population who are more susceptible to
anxiety and insomnia along with growing awareness regarding mental health
issues.
Regional analysis: North America dominated the market and accounted for revenue
share of over 35% in 2023 owing to the high healthcare expenditure and growing
acceptance of benzodiazepine therapy in the region. Asia Pacific is expected to
exhibit the fastest growth over the forecast period on account of the large
patient pool and improving access to healthcare facilities in developing Asian
countries.
Key players operating in the benzodiazepine drugs market are F.Hoffmann-La
Roche Ltd., Torrent Pharmaceuticals Ltd., Mallinckrodt Pharmaceuticals, Pfizer
Inc., Viatris Inc. (Mylan N.V.), Labiana Pharmaceuticals, Bausch Health
Companies, Inc., Teva Pharmaceutical Industries Ltd., Amneal Pharmaceuticals
LLC, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Par Pharmaceutical,
and Intas Pharmaceuticals Ltd.
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More:
https://www.marketwebjournal.com/benzodiazepine-drugs-market-demand-share/
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