Global Benzodiazepine Drugs Market to Surpass US$ 3,917.0 Million by 2030, Says Coherent Market Insights (CMI)

SEATTLE, April 18, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global benzodiazepine drugs market is estimated to be valued at US$ 3,050.4 million in 2022 and is expected to exhibit a CAGR of 3.2% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Benzodiazepine Drugs Market:

Key trends in the market include increasing product approvals, increasing prevalence of chronic diseases, increasing research and development activities, and inorganic growth activities such as collaborations, etc.

Increasing product launches by the market players is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in January 2022, Hikma Pharmaceuticals PLC (Hikma), a global pharmaceutical company announced the launch of diazepam injection, USP through its Hikma Pharmaceuticals USA Inc., subsidiary in the U.S. The company introduced a 5mg/mL dosage in a 2mL dose of diazepam injection. Diazepam is a long-acting benzodiazepine which is indicated for the management of anxiety, convulsive seizures, and alcohol withdrawals.

Market players are indulged in inorganic growth activities, such as partnerships, which is expected to drive growth of the market over the forecast period. For instance, in January 2021, Premier Inc., a leading healthcare improvement company, through its ProvideGx program announced a partnership with Pfizer Inc. to supply five essential medications to healthcare providers, assisting in meeting the immediate and long-term supply needs of medications required for a variety of patient care interventions, during the COVID-19 pandemic. The five medications are diazepam, labetalol, lorazepam, fentanyl citrate, and 0.9 percent sodium chloride injection.

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Key players are engaged in expanding manufacturing facility, which is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in October 2020, Roche Canada, a subsidiary of Hoffmann-La Roche announced a US$ 500 million investment to expand its Mississauga facility. This five-year million-dollar investment will construct a Global Pharma Technical (PT) Operations facility at the company's Mississauga headquarters.

Key Market Takeaways:

Market players are indulged in entering into inorganic growth activities such as acquisitions, in order to enhance their product portfolio, this is expected to drive growth of the global benzodiazepine drugs market, over the forecast period. For instance, In April 2019, Labiana Pharmaceuticals, a global pharmaceutical company, announced that it has signed an agreement to acquire majority of shareholding in Zoleant Pharmaceuticals International, Turkey, a company specialized in animal health. This acquisition increased Labiana Pharmaceuticals turnover from 2018 to US$ 5.5 million, achieving US$ 30 million by the end of 2019.
Among regions, North America is expected to hold a dominant position in the global benzodiazepine drugs market over the forecast period, owing to increasing prevalence of chronic diseases such as end-stage kidney disease (ESKD) and cancer in the region. For instance, according to the Anxiety & Depression Association of America, 2020, anxiety disorders are common mental illness in the U.S. Approximately, 40 million adults, in the age group 18 and older are affected by anxiety, every year.

Competitive Landscape:

Key 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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Market Segmentation:

• Global Benzodiazepine Drugs Market, By Product:

• • Long Acting Benzodiazepine
    • Chlordiazepoxide
    • Diazepam
    • Lorazepam
    • Alprazolam
    • Clonazepam
    • Others
  • Short Acting Benzodiazepine
    • Temazepam
    • Midazolam
    • Triazolam
    • Others

• Global Benzodiazepine Drugs Market, By Application:

• • Anxiety Disorders
  • Nervousness
  • Sedation
  • Seizures
  • Alcohol Withdrawal
  • Others

• Global Benzodiazepine Drugs Market, By Route of Administration:

• • Oral
  • Injectables
  • Others

• Global Benzodiazepine Drugs Market, By Distribution Channel:

• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

• Global Benzodiazepine Drugs Market, By Region:

• • North America

• • • By Country:
      • U.S.
      • Canada

• • Latin America

• • • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America

• • Europe

• • • By Country:
      • U.K.
      • Germany
      • Italy
      • Spain
      • France
      • Russia
      • Rest of Europe

• • Asia Pacific

• • • By Country:
      • Australia
      • India
      • China
      • Japan
      • ASEAN
      • South Korea
      • Rest of Asia Pacific

• • Middle East
    • By Country:

• • • • GCC
      • Israel
      • Rest of Middle East

• • Africa

• • • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

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