BENZODIAZEPINE DRUGS MARKET ANALYSIS

Benzodiazepines are a class of drugs that can be used to treat a variety of ailments such as anxiety, insomnia, seizures, social phobia, and panic disorder. Benzodiazepine are used for premedication before medical procedures. These drugs are normally safe and effective when they are used for a short period of time, but in terms of long-term usage, it can lead to tolerance, dependency, and other side effects. According to the U.S. Food and Drug Administration (U.S. FDA), in 2019, it was estimated that approximately 92 million benzodiazepine prescriptions were dispensed from the U.S. outpatient retail and mail-order pharmacies.

Benzodiazepines are commonly administered via the oral and intravenous routes. They may also be administered through rectal route, intranasal route, and intramuscular route. The benzodiazepine treatment provides better quality of life for all those affected by mental illness, their carers, family and friends.

Global Benzodiazepine Drugs Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to limit growth of the global benzodiazepine drugs market over the forecast period. High prevalence of stress and anxiety surge the demand for benzodiazepine drugs for their treatment, which is expected to drive the growth of the segment during the forecast period. For instance, according to the publication by BioMed Central (BMC), July 2020, the prevalence of stress, anxiety, and depression among the general population during the COVID-19 pandemic was analyzed globally. The prevalence of stress in 5 studies with a total sample size of 9074 was around 29.6%, the prevalence of anxiety in 17 studies with a sample size of 63,439 was around 31.9%, and the prevalence of depression in 14 studies with a sample size of 44,531 people was 33.7%.

Moreover, there was a decrease in the prescription of benzodiazepines before COVID-19 pandemic, but during the COVID-19 pandemic, there was an increase in the prescription rates. This is expected to increase the growth of the global benzodiazepine drugs market, over the forecast period. For instance, in October 2021, according to an article published in the National Center for Biotechnology Information (NCBI), globally, benzodiazepine prescribing decreased from January 2018 to March 2020. However, there was a slight increase in April 2020 among women. For women, the prescribing rates decreased from 5.61% in January 2018 to 5.00% in January 2020, but increased to 5.32% in April 2020 due to the COIVD-19 pandemic.

The global benzodiazepine drugs market is estimated to be valued at US$ 3,050.4 Mn in 2022 and is expected to exhibit a CAGR of 3.2% over the forecast period (2022-2030)  

Figure 1: Global Benzodiazepine Drugs Market Share, (%), Analysis, By Product, 2022

Market players are indulged in developing innovative medicines for the treatment of seizures in children, this is expected to drive growth of the global benzodiazepine drugs market over the forecast period

Market players are engaged in the development of innovative medicines for the treatment of seizures. This is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in September 2021, Neurelis, Inc., an innovation-driven neuroscience company initiated clinical program to investigate the use of VALTOCO (diazepam nasal spray) in children with epilepsy, aged two to five as a treatment for seizure clusters. Currently, the study is in the Phase I/II of the clinical trial. The study is expected to be finished by December 2022.

Increasing product approvals by the regulatory authorities is expected to drive the growth of the market over the forecast period

Product approvals by the regulatory authorities is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in August 2021, Loreev XR (extended-release lorazepam) distributed by Almatica Pharma LLC (a privately held, U.S. pharmaceutical company), was approved by the U.S. Food and Drug Administration (FDA). It is a once daily benzodiazepine formulation which is indicated for the treatment of anxiety disorders, preoperative sedation, anterograde amnesia, and status epilepticus in adults.

Global Benzodiazepine Drugs Market – Restraints

The increasing benzodiazepine drugs recalls is expected to hamper growth of the global benzodiazepine drugs market over the forecast period. For instance, on  March 7, 2022, Wockhardt UK Ltd, a generic pharmaceutical company, announced that the company is recalling a batch of Diazepam RecTubes 2.5mg rectal solution, due to an out of specification result for assay during routine stability testing.

Similarly, in May 2017, F. Hoffmann-La Roche AG, a multinational healthcare company, issued an urgent medicine recall to retrieve all the batches of Valium 5mg in Australia, after the company found evidence of product tampering within its supply chain.

Moreover, benzodiazepine is banned in some of the countries, such as the U.A.E, etc., due to various reasons such as addiction to the benzodiazepine drugs, etc. Thus, the above factors are expected to restrain the growth of the global benzodiazepine drugs market over the forecast period.

Global Benzodiazepine Drugs Market – Regional Analysis

On the basis of region, global benzodiazepine drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Among regions, North America benzodiazepine drugs market is expected to hold a dominant position during the forecast period, owing to the submitting applications for new drugs and is expected to drive growth of the North America benzodiazepine drugs market over the forecast period. For instance, in 2021, Aquestive Therapeutics, Inc., a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) accepted for filling the resubmission of the New Drug Application (NDA) for Libervant (diazepam) buccal film for the management of seizure clusters.

Furthermore, Europe is also estimated to witness significant growth in the global benzodiazepine drugs market, owing to increasing product approvals by the regulatory authorities. For instance, in 2021, Acacia Pharma Group plc, a manufacturer and distributor of pharmaceutical products, headquartered in the U.K., launched BYFAVO (remimazolam), a short acting benzodiazepine. BYFAVO was approved by the U.S. Food and Drug Administration (FDA) on July 2, 2020. It is indicated for the induction and maintenance of procedural sedation in adults, who are undergoing procedures lasting 30 minutes or less.

Figure 2: Global Benzodiazepine Drugs Market (US$ Mn), by Region, 2022

Global Benzodiazepine Drugs Market – Competitive Landscape

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.