Benzodiazepine Drugs Market Set to Record US$ 2.6 Bn by 2026, finds Fact.MR
Benzodiazepine drugs market is expected to record a pedestrian CAGR of around 2.7% during the forecast period (2020-2026).
Presence of a large number of hospital and retail pharmacies further makes it easy for individuals to purchase benzodiazepine drugs. A significant influence of high concentration of leading players is also auguring well for the U.S. benzodiazepine drugs market, which has been discussed in detail, in a recent Fact.MR study.
Key Highlights of Benzodiazepine Drugs Market Study
• Easy accessibility is a key feature driving substantial sales of benzodiazepine drugs through retail pharmacies. By 2026, these pharmacies are projected to record value tantamount to US$ 1.4 Bn. Additionally, sales prospects for benzodiazepine drugs are likely to grow during the forecast period, as consumers are evincing high interest in online pharmacies.
• Popularity of short-acting benzodiazepine drugs is expected to increase during the forecast period, as these induce less hangover effect and take relatively short time of action. On the back of this, around 77% of the total share would be attributable to the sales of short-acting benzodiazepine drugs.
• Being a highly prevalent disorder among individuals leading a demanding lifestyle, anxiety is projected to account for a sizeable share tantamount to around 53% in the benzodiazepine drugs market during the forecast period.
• Reduction in the number of prescriptions for benzodiazepine drugs, especially in countries such as the U.S., the U.K., and Canada, would impede market growth during the forecast period.
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A subject matter expert at Fact.MR opines, "Regulations regarding development of benzodiazepine drugs are relatively stringent in developed regions such as North America and Europe, which opens ground for branded as well as generic drugs in developing regions. As a result, entry barriers in developed regions would be high, while those in developing regions would be moderate."
High Popularity of Generic Drugs Puts Pressure on Branded Products of Leading Players
The benzodiazepine drugs market features fragmentation, as leading players operate under the constant pressure of patent expiration of branded products. High investments made towards the development of innovative and new products by leading players intensifies pressure to achieve the desired RoI.
PR Source- https://www.factmr.com/