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.
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
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