Global Benzodiazepine Drugs Market is estimated to be valued at USD 3,227.4 Mn in 2024, and is expected to exhibit a CAGR of 3.8% over the forecast period (2024-2031). Global benzodiazepine drugs market is witnessing moderate growth, owing to rising prescription rates for benzodiazepines drugs to treat conditions like insomnia, seizures, anxiety disorders and alcohol withdrawal symptoms. Furthermore, increasing prevalence of anxiety disorders across both developed and developing nations can also drive the market growth.
Market Dynamics:
Global benzodiazepine drugs market growth is driven by increasing prevalence of anxiety disorders and rising prescription rates for benzodiazepine drugs. Anxiety disorders are among the most common mental health disorders and have increased sharply in most countries. According to the National Institute of Mental Health, over 40 million American adults suffer from anxiety disorders in a given year. Moreover, benzodiazepines are frequently prescribed drugs for the treatment of insomnia and seizures, and this can drive the market growth. However, the market growth can be hampered by availability of alternative therapies and rising abuse & misuse of benzodiazepines.
Increasing prevalence of anxiety and depression globally
One of the key drivers for the market growth include rising prevalence of COPD worldwide. According to the World Health Organization (WHO), around 65 million people suffer from moderate to severe COPD globally. The prevalence of COPD is highest in North America and Europe, where over 10% of the adult population is estimated to have COPD. However, its incidence is rising rapidly in developing countries due to increasing pollution levels and tobacco consumption. Growing geriatric population can also contribute to rising COPD cases as the risk of developing the disease increases with age. With no signs of reversal in these prevalence-enhancing factors, the demand for COPD medications and devices is expected to grow steadily in the coming years.
Ageing population and associated health issues
Aging populations across the world along with rising mental health issues can drive the market growth. More elderly people means an increasing risk of age-related health conditions. Insomnia and anxiety are more common in older adults. According to the United Nations, around 16% of the global population will be aged 65 and above by 2050. This demographic shift provides a sustained driver for benzodiazepine sales well into the future as the drugs continue to be a standard treatment approach for numerous mental and physical health issues plaguing the elderly.
Consumer safety concerns over side effects
Benzodiazepines are generally effective but these are also associated with certain risks if abused or taken long-term. Side effects may include drowsiness, dizziness, coordination problems, and increased fall/fracture risk in elderly patients. In recent years, high-profile lawsuits and scandals have brought public attention to the addictive potential and complications of benzodiazepine overprescription and misuse. This has made some consumers wary and willing to explore alternative therapy options first before trying these medications.
Increasing popularity of alternative treatments
Rising awareness about downsides of benzodiazepines leads to increasing popularity of complementary and alternative therapies for conditions like anxiety and insomnia. Cognitive behavioral therapy, meditation, herbal supplements, and prescription alternatives like anti-depressants are some of the alternative treatment of benzodiazepine. While not replacing benzodiazepines entirely, these options have taken some market share away by addressing patient preference for more natural solutions with fewer side effects. The mainstreaming of holistic health ideals poses challenge on benzodiazepine sales volumes.
Scope for improved formulations
By addressing risks like addiction, next-gen benzodiazepine formulations present opportunities for manufacturers. Abuse-deterrent versions, long-acting forms for better compliance, and lower-dose options for sensitive populations like the elderly can offer market growth opportunities. Safer, more convenient delivery systems would help existing products stay relevant amid safety backlash and strengthen the case for first-line therapy use.
Emerging markets with healthcare expansion
While mature markets in the West have slower growth forecasts, developing nations represent areas of promise. As healthcare infrastructure and insurance penetration rises across Asia, South America, Middle East and Africa, more accessible benzodiazepines can tap rising spending power. Culturally-tailored education drives acceptance of standardized Western medicine to treat now-escalating non-communicable diseases prevalent even in low-income countries. This macro-level trend creates vast unrealized potential customer pools for benzodiazepines globally.
Link - https://www.coherentmarketinsights.com/market-insight/benzodiazepine-drugs-market-5001
Key Development
- In November 2023, Lupin, a pharmaceutical company, launched Diazepam Rectal Gel, 10 mg and 20 mg in U.S.
- In September 2022, Pharmanovia, a lifecycle management company, announced that it had entered into an exclusive license and supply agreement with Aquestive Therapeutics, Inc., a pharmaceutical company, for its patented diazepam buccal film formulation across the EU, U.K., Switzerland, and Norway, as well as countries in the Middle East and North Africa (MENA)
- In March 2020, Neurelis, Inc., a pharmaceutical company, announced the commercial availability of VALTOCO (diazepam nasal spray) for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity (seizure clusters, acute repetitive seizures) that are distinct from a patient’s usual seizure pattern in adult and pediatric patients 6 years of age and older
Key Players: Torrent Pharmaceuticals Ltd., Mallinckrodt Pharmaceuticals, Pfizer Inc., Viatris (Mylan N.V.), Labiana Pharmaceuticals, Bausch Health Companies, Inc., Teva Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Par Pharmaceutical, Intas Pharmaceuticals Ltd., Neurelis, Inc., Almatica Pharma LLC, Aquestive Therapeutics, Inc., F.Hoffmann-La Roche Ltd., Wockhardt UK Ltd, Lupin, Hikma Pharmaceuticals PLC
