Mental health disorders or mental illness affect the person’s mood, thinking, and behavior. The common mental illness include anxiety, panic attacks, eating disorders, depression, and others. Alprazolam is a tablet which is prescribed for patients suffering from anxiety and panic attacks. The medicine belongs to the benzodiazepines class of drugs that produce a calming effect on the brain and nerves by increasing the production of gamma-Aminobutyric acid (GABA) neurotransmitter.
Global Alprazolam Tablets Market – Dynamics
The increasing prevalence of anxiety among the world population is expected to drive growth of the global alprazolam tablets markets during the forecast period. For instance, according to the statistics published on 15th June 2020, the Center for Disease Control and Prevention, (CDC), reported that, globally, 7.1% of children in the age group of 3-17 years, or around 4.4 million children, have been diagnosed with anxiety. Furthermore, according to World Health Organization, (WHO), in 2018, around 264 million adults across the globe suffered from anxiety. Out of these, 63% were females and 37% were males.
Moreover, campaigns launched by regulatory authorities are expected to drive sales of original drugs rather than illegal copies of drug, and thereby boost growth of the global alprazolam tablets market. For instance, on 4th August 2020, the U.S. Drug Enforcement Administration (DEA), launched a campaign against the marketing of tablets production kits such as tablet presses, die punches, and chemicals used for illegal drug synthesis. According to the DEA, these kits may be used for making copies of brands marketing alprazolam tablets such as OxyContin or Xanax, by adding fentanyl, heroin, and isotonitazene, as active ingredients instead of alprazolam.
Global Alprazolam Tablets Market – Regional Insights
North America is expected to dominate the global alprazolam tablet market during the forecast period owing to the increasing prevalence of anxiety among the U.S. population. For instance, according to the Anxiety and Depression Association of America, (ADAA), 2020, currently, 40 million U.S. adults are suffering from anxiety disorders due to the COVID-19 pandemic.
Furthermore, the global alprazolam tablets market is expected to witness significant growth due to health policies for treatment of mental health problems. For instance, in the U.S., eligible residents receive treatment coverage through Medicaid for mental health services and Medicare part A coverage for treatment of depression and anxiety.
Global Alprazolam Tablets Market – Competitive Landscape
Some of the key players operating in the global alprazolam tablets market are Aurobindo Pharma Ltd., Mylan N.V., Par Pharmaceuticals, Pfizer Inc., Taj Pharmaceuticals Ltd., Terrace Pharmaceuticals, Avalanche Pharmaceuticals Pvt. Ltd., Cooper Pharma Ltd., Sun Pharmaceuticals Industries Ltd., Cadila Pharmaceuticals Ltd., Lupin Limited, and Novartis International AG.
Global Alprazolam Tablets Market – Taxonomy
On the basis of form, the global alprazolam tablets market is segmented into:
- Immediate Release Tablets
- Extended Release Capsules
- Orally Disintegrating Tablets
On the basis of application, the global alprazolam tablets market is segmented into:
- Anxiety Disorder
- Panic Attacks
On the basis of region, the global alprazolam tablets market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East