COVID-19 Panic will Drive Injectable Benzodiazepines Sales to USD 260 Mn in 2020: Study
Global injectable benzodiazepine sales are set to reach USD 260 million in 2020, as covid-19 panic and uncertainty has set in, even among population with no previous history of mental illnesses, according to a new study by Future Market Insights (FMI). The market research firm estimates the market to grow at 2.7% CAGR through 2030.
Injectable Benzodiazepine Market
A recent market study published by Future Market Insights (FMI) on the Injectable benzodia...
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.
Key Takeaways of Injectable Benzodiazepine Market Study
- Lorazepam injectable benzodiazepine accounted for the highest share in the injectable benzodiazepine market in 2019
- Seizures and anxiety among 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 market in 2020
Low cost manufacturing and large patient pools in Asian countries 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 market,” says an FMI Analyst.
Research Collaborations: Key to Sustenance
The market players are emphasizing on expanding their manufacturing facilities with introduction of cost-effective and generic drugs and also venturing into strategic partnerships.
- In Jan 2020, Hospital Sales Force from Xellia signed an agreement with Eton to promote Biorphen in the 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 injectable benzodiazepine market 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 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.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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