Injectable Benzodiazepine Market: Overview
The injectable benzodiazepine market may gain good traction across the forecast period of 2024-2030 owing to the escalating cases of depression worldwide. According to the World Health Organization (WHO), one in four people are affected by neurological or mental disorders at some point in their lives worldwide. Currently, approximately 450 million people suffer from mental disorders around the globe as per the WHO. These statistics highlight the importance of benzodiazepine to provide relief from such disorders.
Benzodiazepines are advocated for diverse issues, especially mental disorders including sleep disorders, anxiety, seizures, generalized anxiety disorder (GAD), and alcohol withdrawal symptoms. Therefore, this aspect may bring tremendous growth to the injectable benzodiazepine market. In terms of drug class, the injectable benzodiazepine market can be segmented into midazolam, diazepam, and lorazepam. Furthermore, on the basis of time of action, the injectable benzodiazepine market can be segmented into long-acting and short-acting.
This upcoming report on the injectable benzodiazepine market provides a 360-degree analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the injectable benzodiazepine market. The segmental study enables an individual to deeply understand the different aspects of the injectable benzodiazepine market systematically.
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Injectable Benzodiazepine Market: Competitive Insights
The injectable benzodiazepine market is said to be consolidated with a few key players dominating the competitive scenario. To maintain their prominence in the injectable benzodiazepine market, the key players are always involved in activities like mergers, acquisitions, collaborations, joint ventures, and partnerships. In addition, research and development activities also form an important component of growth for the injectable benzodiazepine market.
Some well-entrenched players in the injectable benzodiazepine market are Dash Pharmaceuticals LLC, AdvaCare Pharma, Hameln Pharma Ltd., Akorn Inc., Sun Pharmaceutical Industries Ltd., Martin Dow, Troy Laboratories Pvt. Ltd., F.Hoffman-La Roche Ltd., Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Intas Pharmaceuticals Ltd.
Injectable Benzodiazepine Market: From Lens of COVID-19 Outbreak
The COVID-19 pandemic has led to great losses and has created an atmosphere of panic among the global populace. Job cuts and economic disruption has taken a toll on the mental health of numerous individuals across the globe. This aspect has led to an increase in the consumption of injectable benzodiazepine.
Even if the COVID-19 aspect is short-term, it may have a huge role in molding the growth of the injectable benzodiazepine market. A novel study conducted recently on over 3 million people found that benzodiazepine prescriptions have escalated 34 percent from mid-February to mid-March. These statistics shed light on the growing influence of benzodiazepine across the populace. This factor may bring immense growth opportunities for the growth of the injectable benzodiazepine market.
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Injectable Benzodiazepine Market: Growth Threats
Even if injectable benzodiazepines can help in short-term, it has long-term repercussions. The growing awareness among individuals about the dangers of injectable benzodiazepines may prove to be a prominent growth dampener for the injectable benzodiazepine market.
A recently conducted study highlighted a mild link between the consumption of injectable benzodiazepines by people over 65 years of age with increased dementia risk. In addition, the use of injectable benzodiazepine for just over a month may trigger dependency, thus leading to addiction. All these factors can prove to be major growth restraints for the injectable benzodiazepine market.
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Injectable Benzodiazepine Market: Regional Assessment
The injectable benzodiazepine market can be geographically segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, Asia Pacific, and Europe. The rising threat of the novel coronavirus in North America and Europe may enable them to capture a significant market share across the forecast period of 2024-2030. The U.S. has a noticeable number of individuals having mental disorders. Therefore, this aspect can also prove to be a prominent growth generator.
Asia Pacific may record rapid growth due to the increased production capacity of injectable benzodiazepines across the region.
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