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Benzodiazepine Drugs Market

Benzodiazepine Drugs Market

Benzodiazepine Drugs Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2026

Benzodiazepine Drugs Market
FACT4432MR
  • Jan-2020
  • List of Tables : 30
  • List of Figures : 93
  • 170 Pages
  • Healthcare

High-volume Yet Low-value Sales Projected in Benzodiazepine Drugs Market

Branded medications such as Xanax continue to witness a diminishing impact in the benzodiazepine drugs market, on the back of growing popularity of generic drugs. High capital requirements for the development of quality branded drugs are increasing the penetration of generic drugs in the benzodiazepine drugs market.

The trend of developing generic drugs holds relevance for prominent players such as Teva Pharmaceutical Industries Ltd. and Mylan N.V., who generate a sizeable revenue (around 58% market share) through the sales of generic products.

Benzodiazepine drugs are a single panacea to numerous disorders such as anxiety, insomnia, and seizures, which continues to catalyse sales through multiple applications. Growing awareness about the side-effects of psychoactive drugs, in turn, increases the adoption of relatively safe benzodiazepine drugs.

Considering the relevance of these crucial dynamics, a comprehensive study by Fact.MR opines that, demand for benzodiazepine drugs would remain high-albeit generic ones-which would drive voluminous sales, though contribute moderately to market value.

That being said, the benzodiazepine drugs market is expected to record a pedestrian CAGR of around 2.7% during the forecast period (2020-2026).

analysis of benzodiazepine drugs market by application

Drug Abuse and Reported Cases of Death Associated with Benzodiazepine Drugs to Hamper Revenue Potential of Market

A cohort of factors such as increasing benzodiazepine drug abuse and several reported cases of overdose leading to death, apart from increase in popularity of generic drugs, is resulting in sluggish growth of the market.

These drugs produce a calming effect, which leads to drug abuse, and, in turn, increases drug dependency.

Long-term consumption of benzodiazepine drugs is found to cause breathing problems, dizziness, weakness, tremors, pneumonia, brain damage, and in extreme cases, can also lead to death.

According to the National Institute on Drug Abuse, the year 2017 witnessed around 11,537 deaths caused by the overdose of benzodiazepine drugs. In response to such incidence, various government bodies now regulate prescription of the drug, further hampering market growth.

assessment of lucrative opportunity in benzodiazepine drugs market by time of action

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North American Benzodiazepine Drugs Market Growing in Proportion to Increasing Prevalence of Anxiety Disorders

North America is a key benzodiazepine drugs market, with high consumption of these drugs for the treatment of anxiety disorders.

According to the Anxiety and Depression Association, anxiety disorders affect around 40 million adults in the U.S., every year, which is likely to increase adoption, as consciousness regarding quality treatment grows among individuals.

Application of benzodiazepine drugs for the treatment of anxiety alone is projected to account for over 53% share in the market by 2026, while drug consumption for the treatment of seizures is likely to record a CAGR of around 2.4% during the forecast period.

However, the impact of stringent regulations against drug abuse is such that, sales of benzodiazepine drugs receive closure through retail and hospital pharmacies, as these drugs require a proper prescription.

This, when compared to relatively lenient regulations in Asia Pacific and Latin America, sales of benzodiazepine drugs through online pharmacies are projected to witness a CAGR of around 3.5% and 3.4%, respectively.

An Adaptive Approach to Modern-day Research Needs

Benzodiazepine Drugs Market – Assessment of Key Segments

Authors of this comprehensive research have classified the benzodiazepine drugs market into key segments for an in-depth study of the market. Categorisation of the benzodiazepine drugs market is based on distribution channel, time of action, application, product, and region.

This detailed study also offers information about the incremental opportunity present in the benzodiazepine drugs market during the forecast period. Key segments considered while studying the benzodiazepine drugs market include:

Distribution Channel
  • Hospital Pharmacies
  • Retail Pharmacies
  • Others
Time of Action
  • Ultra-short Acting
  • Short Acting
  • Long Acting
Application
  • Anxiety
  • Seizures
  • Insomnia
  • Alcohol Withdrawal
  • Others
Product
  • Alprazolam
  • Clonazepam
  • Diazepam
  • Lorazepam
  • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Revenue of the benzodiazepine drugs market has been estimated in terms of US$ Mn for the period of 2020-2026. In addition to this, compound annual growth rate (CAGR %) has been estimated for all segments during the forecast period of 2020-2026, considering 2019 as the base year, in the benzodiazepine drugs market.

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