Benzodiazepine Drugs Market to Surpass US$ 3,917.0 Million by 2030 With CAGR of 3.2%

Overview:

Benzodiazepines are a drugs having a calming and sedating effect and these medicines are available only on prescription. These are used for treating seizures, panic disorder, anxiety, social phobia, and insomnia. Example of benzodiazepines are alprazolam, diazepam, temazepam, oxazepam and lorazepam. These are available in capsule or tablet, or they can also be administered intravenously. These drugs are effective and safe if used for a short period of time but prolonged use can lead to dependency on the drug.

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Impact of COVID-19:

The pandemic is estimated to have hampered the growth of the global benzodiazepine drugs market during the forecast period. COVID-19 was reported in 2019, affecting more than 100 countries, later it was declared as pandemic by the WHO in 2020. According to the WHO, there have been 489 million positive COVID-19 cases and it has led to the death of 6 million individuals till 3 April, 2022.

Various governments have updated their guidelines for spreading awareness about mental health and taking care of mental health of their population, which is expected to boost the growth of the global benzodiazepine drugs market during the forecast period. For instance, the Government of Karnataka, India  and Department of Health & Family Welfare ha e collaborated  with the National Institute of Mental Health and Neurosciences and Department Of Psychiatry for spreading awareness regarding mental health amongst the population. The government guidelines have approved the use of benzodiazepines in mental health treatment.

 Drivers:

Key players in the market are involving in acquisition for the expansion of their product portfolio, which is anticipated to augment the growth of the global benzodiazepine drugs market during the forecast period. For instance, Engage Therapeutics, Inc., was acquired by UCB S.A., in June 2020, for the termination of active epileptic seizure.

Market players are indulged in receiving approvals from the regulatory authorities, in order to increase the market share in the global market.

Key players are focusing on gaining approvals from the regulatory authorities, which is estimated to propel the growth of the global benzodiazepine drugs market during the forecast period. For instance, Aurobindo Pharma Ltd, gained approval from the U.S.FDA, in January, in 2018, a benzodiazepine called Lorazepam Tablets USP.

Regulatory authorities such as the U.S. Food and Drug Administration works to raise awareness of risks associated with benzodiazepines through scientific meetings, public-private partnerships, and funded research. The authorities are also engage with clinicians, patients, and other stakeholders and gather on-the-ground perspectives on medication use. The U.S. Food and Drug Administration (FDA) also runs programs such as the ‘Safe Use Initiative’. Safe Use Initiative is focused on reducing preventable harm from drugs such as benzodiazepines, by soliciting and funding projects that develop innovative methods to create, facilitate, and encourage research in the area of safe medication use.

Key Takeaways:

• The global benzodiazepine drugs market is expected to exhibit a CAGR of 3.2% over the forecast period (2022-2030), owing to growth in potential markets, especially in Europe. While North America accounted for the major market share.
• Market players are indulged in inorganic activities, such as acquisition, in order to expand their product portfolio. This is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in May 2019, Amneal Pharmaceuticals, Inc. announced that it acquired Impax Laboratories, Inc. The acquisition led to expansion of Amneal Pharmaceuticals’ generic medicine product portfolio that further helped the company to achieve the 5th largest generics business position in the U.S.

Key Players:

Some of the major players operating in the global benzodiazepine drugs market include 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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Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Benzodiazepine Drugs Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Benzodiazepine Drugs Industry Impact

Chapter 2 Global Benzodiazepine Drugs Competition by Types, Applications, and Top Regions and Countries
2.1 Global Benzodiazepine Drugs (Volume and Value) by Type
2.3 Global Benzodiazepine Drugs (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Benzodiazepine Drugs Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Benzodiazepine Drugs Market Analysis
Chapter 6 East Asia Benzodiazepine Drugs Market Analysis
Chapter 7 Europe Benzodiazepine Drugs Market Analysis
Chapter 8 South Asia Benzodiazepine Drugs Market Analysis
Chapter 9 Southeast Asia Benzodiazepine Drugs Market Analysis
Chapter 10 Middle East Benzodiazepine Drugs Market Analysis
Chapter 11 Africa Benzodiazepine Drugs Market Analysis
Chapter 12 Oceania Benzodiazepine Drugs Market Analysis
Chapter 13 South America Benzodiazepine Drugs Market Analysis
Chapter 14 Company Profiles and Key Figures in Benzodiazepine Drugs Business
Chapter 15 Global Benzodiazepine Drugs Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology