Benzodiazepine Drugs Market

Benzodiazepine Drugs Market Outlook (2022-2032)

The global benzodiazepine drugs market is worth US$ 2.35 billion in 2022 and is forecasted to progress at a CAGR of 2.8% to reach a market size of US$ 3.1 billion by the end of 2032.

Sales of benzodiazepine drugs are directly reliant on mental disorders, and North America is set to be the most favorable regional market for benzodiazepine drug manufacturers over the coming years.

Report Attributes	Details
Benzodiazepine Drugs Market Size (2021A)	US$ 2.28 Billion
Estimated Market Value (2022E)	US$ 2.35 Billion
Forecasted Market Value (2032F)	US$ 3.1 Billion
Global Market Growth Rate (2022-2032)	2.8% CAGR
North America Market Share (2021)	~ 37.2%
Europe Market Growth Rate (2022-2032)	~ 2.5% CAGR
United States Market Growth Rate (2022-2032)	~ 2.1% CAGR
Market Share of Top 5 Companies	~ 24.6%
Key Companies Profiled	Pfizer Inc. Akorn Inc Hikma Hameln Pharmaceutical Accord troylab Amneal Pharmaceuticals LLC Apotex Inc.

Sales Analysis of Benzodiazepine Drugs (2017-2021) Vs. Market Estimations (2022-2032)

Benzodiazepine drugs have grabbed significant attention over the past few years due to intensified use of anxiolytics (flurazepam, triazolam, temazepam, etc.) and hypnotics (diazepam, alprazolam, lorazepam, etc.). Rising cases of mental disorders are leading to increasing prescriptions of benzodiazepine drugs across the world.

Furthermore, people's concern about alcohol consumption has elevated the use of benzodiazepine drugs to combat alcohol withdrawal symptoms. Also, investments in healthcare R&D have led to the introduction of novel synthesized benzodiazepines in the market.

These factors have amplified the sales of benzodiazepine drugs at a compound annual growth rate of 2.7% between 2017 and 2021.

Additionally, considerable growth in the cases of anxiety-related disorders among the global population will lead to high revenue generation for market players. Speedy urbanization and the present work culture have suggestively increased mental health problems, which will create a huge growth opportunity for the manufacturers of benzodiazepine drugs.

Fact.MR predicts that the global benzodiazepine drugs market will be valued at US$ 3.1 billion by 2032, expanding at a CAGR of 2.8%.

• Short Term (2022-2025): Rising use of benzodiazepine drugs for mental disorders will favorably affect market growth.
• Medium Term (2025-2028): Product development with minimal side effects will lead to huge acceptance of benzodiazepine drugs during the 2025-2028 period.
• Long Term (2028-2032): Rising urbanization and extraordinary work pressure will drive market growth over the long term.

Over the 2017-2021 historical period, the global market for benzodiazepine drugs registered a CAGR of 2.7%, and according to Fact.MR, a market research and competitive intelligence provider, it is projected to progress at 2.8% CAGR between 2022 and 2032.

Market share analysis of benzodiazepine drugs based on product and region. Under the product segment, alprazolam dominates with 29.6% market share.

Why Has the Consumption of Benzodiazepine Drugs Increased?

“Rising Prevalence of Anxiety & Insomnia across the World”

The escalating prevalence of anxiety disorders as well as amplified levels of stress in the global population have led to steady growth of the global benzodiazepines drugs market. Hectic and fast-moving lifestyles along with morbid work-life balance are influential factors that have increased mental health issues.

In addition, an increasing proportion of the millennial population is susceptible to anxiety disorders and depression.

• According to the study, the number of people suffering from anxiety-related disorders was 264 million across the world.

Moreover, unhealthful social judgments about mental health disorders owing to prolonged use of social networking platforms among millennials and teenagers is a key contributing factor supplementing market growth.

“Introduction of Novel Formulations under BZD Class and Increasing Product Approvals”

Investments in various clinical studies by government authorities and key market players are supporting the introduction of BZD drugs in the market. Market peers are concentrating on developing novel medicines for the treatment of anxiety and seizures, which is anticipated to spur the sales growth of benzodiazepine drugs throughout the forecast period.

Additionally, the upsurge of product approvals by regulatory bodies is benefiting market growth.

• For instance, Loreev XR received BZD product approval from the U.S. FDA in August 2021. It is used in the treatment of anxiety disorders, status epilepticus, anterograde amnesia in adults, and preoperative sedation.

How is Benzodiazepine Drugs Market Growth Being Negatively Impacted?

“Growing Awareness Regarding CBT (Cognitive Behavioral Therapy)”

Various clinical studies have seen billions or trillion dollars spent on the development and establishment of psychotherapies across the world. This is now becoming a part of a million people’s lifestyles.

To reduce the overdependence on BZD, millions of people who are suffering from mental disorders are moving toward CBT treatment. The growing use of social media supports spreading awareness regarding the importance of mental health and related therapies such as CBT and effective anti-depressants.

Additionally, government agencies are also trying to create awareness regarding cognitive behavioral therapy to reduce dependence on BZD drugs and related side effects. Also, supportive resources provided by government authorities to their citizens are increasing the affordability of these services. Such initiatives in favor of CBT treatment may hinder the sales of benzodiazepine drugs to some extent.

Country-wise Insights

Will Increasing Anxiety Cases in the U.S. Lead to High Demand for Benzodiazepine Drugs?

In North America, the U.S. is ruling the market due to an upsurge in the incidence of anxiety and related circumstances as well as more FDA approvals of benzodiazepine drugs.

• According to the Anxiety and Depression Association of America (ADAA), in the United States, around 40 million adults are affected every year with anxiety disorders, out of which, only 36.9% prefer to take treatment.

Additionally, a surge in the expansion of mental healthcare services and growing consciousness about anxiety disorders are accountable for the growth in the diagnosis of GAD (generalized anxiety disorder).

The U.S. benzodiazepine drugs market is predicted to expand at a CAGR of 2.1% during the forecast period.

Why is the APAC Benzodiazepine Drugs Market Expected to Be Highly Opportunistic?

The APAC market accounted for 21.7% share of the global benzodiazepine drugs market at the end of 2021.

The growing population and stressful lifestyle in East Asia and South Asia and the ASEAN region are making this an opportunistic market for industry players.

Furthermore, developing healthcare facilities as well as an increase in government initiatives will support market growth in Japan. Also, a large number of generic manufacturers and specialist communities will drive market growth in the Asia Pacific region.

Category-wise Insights

What Has Made Alprazolam the Most Popular Product in This Market?

The benzodiazepine drugs market, under product segment, is categorized into alprazolam, clonazepam, diazepam, lorazepam, and others. Amongst them, the alprazolam segment held the largest market share of 29.2% in 2021 and is expected to exhibit a CAGR of 3% during the forecast years of 2022-2032.

Alprazolam enjoys high popularity owing to its identity as a high-potency triazolobenzodiazepine, which is approved by the US FDA for the treatment of anxiety and panic disorders.

Hence, extensive utilization of alprazolam for the treatment of anxiety and panic disorders and a higher number of prescriptions of alprazolam for these conditions are likely to drive segment growth through 2032.

Which Time of Action is Most Preferred?

Under time of action, benzodiazepine drugs are segmented into ultra-short acting, short-acting, and long-acting. Short-acting benzodiazepines are the most popular holding a majority share in the global market. It is anticipated to follow the same trend during the forecast period. The short-acting segment is projected to hold 77.1% share of the market by 2032.

However, ultra-short acting is the most promising segment for market players as well as emerging companies. Rapid expansion of the segment is due to the rise in popularity due to its pharmacokinetic activity and less chances of the development of drug dependency.

Competitive Landscape

Prominent benzodiazepine drugs manufacturers are Pfizer, Alkorn Inc., Hikma, Hameln Pharmaceutical, Accord, Troylab, Amneal Pharmaceuticals LLC, and Apotex Inc.

Benzodiazepine drug suppliers are investing their time and money in R&D activities to enhance the effectiveness of benzodiazepine drugs used for insomnia, anxiety reduction, and seizure treatment with minimum side effects.

Key market players are also adopting inorganic strategies such as acquisitions, mergers, partnerships, and joint ventures to uphold their presence in the market. Moreover, emerging as well as mid-level manufacturers are competing with each other for faster product approvals to launch their products in the market.

• In August 2022, Aquestive Therapeutics, Inc, a pharmaceutical company, received FDA approval for Libervant™, which is a diazepam-based buccal film for acute treatment of seizures.
• In June 2022, Hikma Pharmaceuticals Plc announced the establishment of Hikma France S.A.S.
• In February 2021, Akorn, a leading specialty pharmaceutical company, announced the review of strategic alternatives for its Consumer Health Business.

Fact.MR has provided detailed information about the price points of key manufacturers of Benzodiazepine Drugs positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Benzodiazepine Drugs Industry Research

• By Product :

  • Alprazolam
  • Clonazepam
  • Diazepam
  • Lorazepam
  • Others

• By Time of Action :

  • Ultra-short Acting
  • Short Acting
  • Long Acting

• By Application :

  • Anxiety
  • Insomnia
  • Alcohol Withdrawal
  • Seizures
  • Others

• By Distribution Channel :

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & ASEAN
  • Oceania
  • MEA