Future Market Insights (FMI), a leading market research firm, has released a comprehensive study forecasting the remarkable growth of the Global Injectable Benzodiazepine Industry. The sales of injectable benzodiazepines are poised to reach a staggering $274 million by the end of 2022, with a more substantial projection of US$ 356 million by the close of 2032.
The market is expected to undergo a steady expansion at a Compound Annual Growth Rate (CAGR) of 2.7% from 2022 to 2032. This growth trajectory signifies a robust and sustained market demand for injectable benzodiazepines globally.
FMI’s research reveals that the Global Injectable Benzodiazepine Industry faced unique challenges in 2020, with sales reaching US$ 260 million. The global uncertainty and panic induced by the COVID-19 pandemic contributed to increased demand, even among populations with no previous history of mental illnesses.
Although COVID-19 will create a short-term spike, in the long run, the market is likely to be driven by increasing demand for generic drugs. Growing acceptance of injectables as a route of administration is also likely to drive growth.
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Key Takeaways of Global Injectable Benzodiazepine Industry Study
- Lorazepam injectable benzodiazepine accounted for the highest share in the injectable benzodiazepine market in 2019
- Seizures and anxiety are among the leading ailments where injectable benzodiazepines are administered
- North America and Europe are expected to hold a noteworthy revenue share of about 60% in the Global Injectable Benzodiazepine Industry in 2020
Low-cost manufacturing and large patient pools in Asian countries are expected to be a key growth driver in the forecast period
“Growing incidences of seizures and anxiety followed by demand for generics to boost the Global Injectable Benzodiazepine Industry,” says an FMI Analyst.
Research Collaborations: Key to Sustenance
The market players are emphasizing expanding their manufacturing facilities with the introduction of cost-effective and generic drugs and also venturing into strategic partnerships.
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- In Jan 2020, Hospital Sales Force from Xellia signed an agreement with Eton to promote Biorphen in institutions that prefer having ready-to-use injectable formulations
- In Oct 2019, KemPharm’s APADAZ (to treat ADHD) got licensed to KVK-Tech, Inc. to make its generic AG-APADAZ available all across the US
- In Dec 2018, Hikma Pharmaceuticals came up with clobazam oral suspension as well as tablets, the generic equivalent to “Onfi” (marketed by H. Lundbeck A/S)
What else is in the report?
Future market insights offer a unique perspective and actionable insights on the Global Injectable Benzodiazepine Industry in its latest study, presenting historical demand assessment from 2015 – 2019 and projections from 2020–2030 based on drug class (diazepam, lorazepam, and midazolam), by the time of action (short-acting long-acting), by indication (agitation & aggression, anxiety, alcohol withdrawal, muscle spasm, seizures, tetanus, sedation, anesthesia insomnia, and status epilepticus), by distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) in seven key regions.
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Key Segments of the Global Injectable Benzodiazepine Industry
FMI’s study on the injectable benzodiazepines market offers information divided into three important segments— drug class, indication, time of action, distribution channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Drug Class
- Diazepam
- Lorazepam
- Midazolam
Time of Action
- Short Acting
- Long Acting
Indication
- Agitation & Aggression
- Anxiety
- Alcohol Withdrawal
- Muscle Spasm
- Seizures
- Tetanus
- Sedation
- Anesthesia
- Insomnia
- Status Epilepticus
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Distribution Channel
- Hospital
- Ambulatory Surgical centers
- Diagnostics Centers
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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