Benzodiazepine Market Scope, Dynamics and SWOT Till 2027
Market Highlights
Benzodiazepines (BZD) are a class of psychoactive drugs with sedative, hypnotic (sleep-inducing), anti-anxiety, anticonvulsant, and muscle relaxant properties. Benzodiazepines (BZD) are useful in treating anxiety, insomnia, agitation, seizures, muscle spasms and alcohol withdrawal.
The sale of Benzodiazepine has been declining due to their addictive side effects and the rise of alternate drugs such as selective serotonin reuptake inhibitors. However the last few years have witnessed a moderate rise in the sale of Benzodiazepines. The lack of efficacy and slow onset of action of selective serotonin reuptake inhibitors along with the fear of falling back on first generation anti-psychotic (barbiturate class) drugs have negated any market moves against Benzodiazepines. Development of short acting Benzodiazepines is an additional advantage in favour of barbiturates.
Some more restraints hampering the market growth are highly competitive and segmented market and a shift towards non-pharmacological therapies.
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Global Benzodiazepine market:
The Global Benzodiazepine market has been evaluated as a slowly growing market and it is expected that the market will reflect sluggish growth figures in future. The global Benzodiazepine market is expected to grow with CAGR of ~ 1.5% to 2.3 % during the forecast period.
The major participants of this market are: AstraZeneca plc, Eli Lilly and Company, GlaxoSmithKline plc, Pfizer, Inc., Sanofi S.A. and Merck & Co., Inc.
Regional Analysis:
Depending on geographic region, Benzodiazepine market is segmented into four key regions: Americas, Europe, Asia Pacific, and Middle East & Africa. Globally developed countries led by North America is the largest market for Benzodiazepines. Europe is the second-largest market for Benzodiazepines. Asia pacific region is expected to be fastest growing region in Benzodiazepine market due to increasing spending on healthcare infrastructure.
Segmentation:
Global Benzodiazepines market has been segmented on the basis of application which comprises of disposable, reusable and others. On the basis of application; market is segmented into anxiety, insomnia, agitation, seizures, muscle spasms and alcohol withdrawal and as anaesthesia supplements. On the basis of time of action; market is segmented into long acting and short acting Benzodiazepines.
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