Global Alprazolam
Market Insights
The global
alprazolam market is estimated to grow at a significant CAGR during the
forecast period. Alprazolam is the most commonly used drug in short term
management of anxiety disorders, specifically panic disorder or generalized
anxiety disorder (GAD). Alprazolam is also used in combination with other
medications for chemotherapy-induced nausea and vomiting. Alprazolam belongs to
a class of medications called benzodiazepines which act on the brain and nerves
to produce a calming effect.
The key drivers for
growth in the alprazolam market are changing life style of people and
increasing work pressure among employees across the world. The market for
alprazolam is expected to be positively impacted by the growing prevalence of
anxiety, insomnia, along with increasing concerns among people about preventive
measures regarding stress-related conditions. Development in the pharmaceutical
industry and growing usage from end-use industries is further expected to
propel the market growth. Stringent government rules and regulations on usage
of alprazolam products is one of the major factor expected to hinder the market
growth. This product is banned in many countries including Australia and
New-Zealand due to its side effects.
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Alprazolam
Market: Application Insight
On the basis of
application, the Alprazolam market is divided into panic disorders, anxiety,
depression, and insomnia. Anxiety is projected to occupy largest market share
during the forecast period. Moreover, it is also expected to expand at a higher
CAGR, owing to the rise in prevalence of anxiety and panic disorders along with
better calming effect produced by alprazolam. Increasing number of
prescriptions and widespread use of the product in treating anxiety and
seizures are projected to expand the market growth.
Alprazolam
Market: End-User Insight
Based on End-users
channel, the global alprazolam market has been segregated into research
institutes, and pharmaceutical companies among others (hospitals and clinics).
The others segment, which comprises hospitals and clinics, is projected to
expand at a significantly higher CAGR during the forecast period. Growing
pharmaceutical manufacturing companies in APAC region and increasing research
institutes in North America regions are expected to drive the alprazolam
market.
Alprazolam
Market: Regional Insights
North America is
projected to dominate the global alprazolam market during the forecast period,
owing to the rise in prevalence of anxiety and related conditions coupled with
higher FDA approvals of alprazolam drugs by major players in the region. Asia
Pacific and Latin America are potential markets for alprazolam due to increased
awareness of people toward healthcare, stress conditions, and surge in
healthcare expenditure among others. The Asia Pacific region is also expected
to hold the significant market share during the forecast period. Increasing
number of pharmaceutical companies in APAC region is one of the major factors
expected to positively influence the growth of alprazolam market in the region.
Alprazolam
Market: Vendor Landscape
This report
contains a chapter dedicated, to vendors operating in the market, report
covering raw material manufactures, equipment developers, manufacturers, and
distributors. The report provides insights on a regional level vendors
and manufactures. This section of the report entails contact details,
experience, products manufactured/supplied, and geographical presence of
companies.
Global
Alprazolam Market Key Players:
Key players in the market include Pfizer Inc., Roche Holding AG,
Terrace Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd., Lupin Limited,
Unicure (India) Pvt. Ltd., Novartis,
Zydus Cadila Pharmaceuticals Ltd., Cipla Limited, Abbott Healthcare Pvt. Ltd.,
Apotex Inc, Actavis Elizabeth, Aurobindo Pharma Ltd, and Dava Intl Inc among
others.
On June 17, 2019-
Pfizer Inc. and Array BioPharma Inc announced that they have entered into a
definitive merger agreement
On May 31, 2019 -
Roche and GE Healthcare launched NAVIFY Tumor Board with medical imaging
capabilities to enable more personalized treatment decisions in cancer care.
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