The benzodiazepine drugs market studied was anticipated to grow with a CAGR of 2.4%, during the forecast period. Benzodiazepines are a class of psychoactive drugs that are used to treat diseases like anxiety, insomnia, panic disorder, seizures, and alcohol withdrawal. Benzodiazepine drugs produce a calming effect by enhancing the effect of the neurotransmitter GABA (Gamma-Aminobutyric Acid). Benzodiazepines drugs are widely prescribed drugs across the world and are helpful to reduce anxiety disorders, seizures, inducing sleep and also used for sedation purposes prior to surgery or general anesthesia. Rise in the geriatric population, stressful lifestyle, daily habits are major factors for mental disturbance, which creates anxiety, maniac, and panic disorder conditions. The market for benzodiazepine drugs is expanding rapidly due to an increase in the prevalence of anxiety, seizures, insomnia, and a rise in concern for the prevention of stress and related conditions. Alprazolam segment is anticipated to expand growth due to its wide application in anxiety, panic disorders. However, misuse of benzodiazepine drugs may restrict the growth of this market.
Scope of the Report
Benzodiazepines are a class of psychoactive drugs that are used to treat diseases like anxiety, insomnia, panic disorder, seizures, and alcohol withdrawal. Benzodiazepine drugs are segmented by Products, Application, Time of Action and Geography.
Key Market Trends
Anxiety Disorders Segment is Expected to Hold the Largest Market Share in the Benzodiazepine Drugs
- Anxiety segment is anticipated to account for a major share of the market during the forecast period.
- According to World Health Organization (WHO) estimated the number of people living with anxiety disorders globally is 264 million in the year 2015 reflects a 14.9% increase since 2005, as a result of population growth and aging and which is estimated to be 3.6%. Anxiety disorders are more common among females than males (4.6% in females compared to 2.6% in males at the global level).
- In 2017, the anxiety segment recorded more than 60% revenue share collectively with anti-depressants drugs and the boost in demand for anxiety therapeutics coupled with a rise in a number of companies investing to develop new anxiety drugs that drive the market revenue.
- Anxiety was a dominant segment of the benzodiazepines drug market globally in the year 2017 and expected to maintain the same during the forecast period.
North America is Expected to Dominate the Market and Expected to do Same in the Forecast Period
North America expected to hold a dominating position in the global benzodiazepine drugs market due to more FDA approvals in that region. Around 40 million adults in the United States are affected every year with anxiety disorders of which only 36.9% receive treatment according to the Anxiety and Depression Association of America (ADAA). An increase in the development of mental health-care services and rising awareness towards anxiety disorders are responsible for the increase in the diagnosis of a generalized anxiety disorder (GAD). Due to growth in the geriatric population is increasing the anxiety diagnosis rates in Mexico, thus directly boosting the demand for physiotherapies such as Cognitive Behavior Therapy (CBT) and generalized anxiety disorder (GAD) medication.
The Benzodiazepine Drugs Market is moderately competitive and consists of several players. In terms of market share, a number of players is currently dominating the market. Some of the companies which are currently dominating the market are 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 among others.
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