Increasing prevalence of anxiety disorders has emerged as a significant growth driver for the benzodiazepine drug market. Anxiety disorders, including generalized anxiety disorder, panic disorder, and social anxiety disorder, affect millions of individuals worldwide, leading to a substantial burden on healthcare systems.
For instance, as per the National Institute of Mental Health (NIMH), Generalized Anxiety Disorder (GAD) affects 6.8 million adults or 3.1% of the U.S. population, with women being twice as likely to be affected as men. Similarly, Social Anxiety Disorder (SAD) affects 15 million adults or 7.1% of the U.S. population.
Additionally, high prevalence of anxiety disorder in geriatric population further drives the market growth. For instance, as per the World Health Organization (WHO), around 14% of adults aged 60 and over live with a mental disorder, with depression and anxiety being the most common conditions among older adults globally.
Thus, as the global population ages and the prevalence of anxiety disorders in older adults continues to rise, the demand for benzodiazepine drugs is expected to increase, driving growth in the market.
Authors:
Mariam Faizullabhoy, Gauri Wani
Frequently Asked Questions (FAQ) :
Benzodiazepine drugs market size was USD 2.8 billion in 2023 and is expected to register 3.9% CAGR from 2024-2032 owing to the increasing prevalence of anxiety disorders and insomnia worldwide.
The alprazolam segment recorded USD 836.1 million in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to its high efficacy in treating anxiety disorders, panic disorders, and various other conditions.
North America benzodiazepine drugs industry is expected to reach USD 1.6 billion by 2032 due to high prevalence of anxiety disorders and other related conditions along with well-established pharmaceutical industry and favorable regulatory environment in the region.
Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc., Hikma Pharmaceuticals PLC, Mylan N.V., Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd., are some of the major benzodiazepine drugs companies worldwide.