Diazepam Market Size – USD 982.8 Million in 2018, Market Growth – CAGR of 3.4 %, Diazepam Industry Trends– Advancements in the drug delivery methods, increasing investments for new product development.
Rising incidences of anxiety disorders, insomnia, & alcohol addiction, increasing investments on research & development, new product launches, increasing awareness for its safe application and various ongoing clinical trials are key factors contributing to high CAGR of Diazepam market during the forecast period.
According to the current analysis of Reports and Data, the global Diazepam market was valued at USD 982.8 million in 2018 and is expected to reach USD 1.27 billion by the year 2026, at a CAGR of 3.4%. Diazepam is utilized to calm indications of anxiety and alcohol withdrawal. This medication is likewise utilized to treat certain seizure problems and help loosen up muscles or ease muscle spasm. It is a benzodiazepine, which is from the class of medications known as central nervous system (CNS) depressants, which are used for the purpose of slowing down the nervous system. However this medication is strictly available only at doctor’s prescription.
It has applications in the management of anxiety disorders, alcohol withdrawal, muscle spasms (relaxant), insomnia, and other nervous system associated illnesses. It is also used for healing panic disorders, or as preoperative sedation and light anesthesia. Several clinical trials has been conducted to evaluate its potency & efficacy in pediatric, adult and geriatric population. The rising prevalence of anxiety disorder, insomnia, psychotic disorders and over consumption of alcohol are the primary factors that trigger the growth of this medication industry. However the increasing drug abuse incidences, stringent regulatory scenarios due to its tendency of people getting addictions and the side effects of diazepam will hamper the growth of diazepam market.
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The most commonly used brand of diazepam is valium, which has received FDA approval for two formulations, 5mg/ml injection and 2, 5 and 10mg tablets. There are several other clinical trials of diazepam ongoing such as, for alcohol withdrawal using diazepam injectable solution, for treatment of febrile seizures, for low back pain, epilepsy associated sicknesses, and for some other illnesses associated with infertility, molar surgeries among others.
Anxiety disorders is one of the top mental health issues in Middle East countries, such as UAE. In a North American survey on mental disorders, it was revealed that one in five Americans has an undiagnosed anxiety disorder, making it one of the most common mental problems across the globe. Anxiety is also snowballing in different regions globally, due to work stress, social media and social gatherings. Anxiety and psychotic disorder are becoming common and there has been extensive research going on focusing on it.
The untapped potential of emerging markets such as Asia-Pacific and Latin America is anticipated to provide lucrative growth opportunities to the market players involved in diazepam market. Moreover, the advancements in the field of therapeutics in order to intensify the accuracy and reliability is expected to boost the market growth during forecasting period. However, stringent regulations regarding approvals, side effects associated with diazepam treatment, withdrawal symptoms, drug-drug interactions, limited awareness about the disorder, lack of improved diagnosis, and technological advances and high research and development investment are the major factors restraining the market growth.
Furthermore, increasing investments on clinical trials for multiple applications of this drug, availability of research funds from private as well as public bodies, some improvements in the reimbursement scenario, and rising awareness about multiple uses, least side effects of this drug are among the key factors propelling the growth of Diazepam market.