Newark, NJ, Sept. 16, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global diazepam market is expected to grow from USD 1.2 billion in 2019 and to reach USD 1.59 billion by 2027, growing at a CAGR of 3.6% during the forecast period 2020-2027.
The diazepam market is witnessing significant growth from the past years. This growth is attributed to applications in the management of muscle spasms and the nervous system associated with illness. Diazepam is also used for healing panic disorders, or as light anesthesia and preoperative sedation. Anxiety disorder is one of the most common mental health issues in various countries and is expected to fuel market growth. Rising investments in clinical trials for multiple applications of diazepam and the least side effects of the drug is the major factor influencing the market growth.
Diazepam is a drug that is utilized for a calm indication of anxiety and alcohol withdrawal. This drug works by calming the brain and nerves. It belongs to a class of drugs known as benzodiazepines. The benzodiazepines are from the medication class called central nervous system depressants that are mainly used to slow down the nervous system. Diazepam is better known as valium that belongs to a group of chemically similar sedative and anxiolytic drugs. It is used to relieve muscle spasms and provide sedation before medical procedures. Diazepam is also used in the treatment of seizure problems and helps loosen up the muscle. It may be administered intramuscularly deep or intravenously into the muscle. Overdosage of diazepam is usually manifested by degrees of central nervous system depression ranging from drowsiness to coma. Diazepam should not be diluted or mixed with other drugs, nor should it be added to I.V. fluids other than glucose intravenous infusion or sodium chloride.
Global diazepam market is expected to witness significant growth, owing to rising incidences of anxiety disorders, increasing investments on a clinical trial for multiple applications of the drug, availability of research funds from private as well as public organizations. Increased effects of diazepam and rising drug abuse incidences and stringent government regulations due to its tendency to addiction. The factor ascertaining growth opportunity is rising awareness about multiple uses.
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Key players operating in global diazepam market include Teva Pharmaceutical Industries, Merck KGaA, F.Hoffmann-La Roche, AbbVie¸ Bausch Health, Sun Pharmaceutical Industries, Pfizer, Mayne Pharma, Vintage Pharms, Roche, and Mylan. To gain a significant market share in the global diazepam market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Merck KGaA and Pfizer are some of the leading manufacturers of the diazepam market.
Tablet segment dominated the market and held the largest share of 32.16% in the year 2019
On the basis of for, the global diazepam market is segmented into solution, tablet, injection, and rectal gel. Tablet segment dominated the market and held the largest share of 32.16% in the year 2019. The tablet segment is further segmented into 2mg, 5mg, and 10mg. This growth is attributed to rising usage for the treatment of lower back pain, epilepsy-associated sickness, and other illnesses associated with infertility, and increasing use of diazepam in the form of tablets.
Anxiety disorder segment dominated and held the largest share of 25.7% in the year 2019
On the basis of application, the global diazepam market is segmented into alcohol withdrawal, anxiety disorder, muscle spasms, seizures, insomnia, and sedation. Anxiety disorder segment dominated and held the largest share of 25.7% in the year 2019. This growth is attributed to the rising prevalence of the psychotic disorder, insomnia, anxiety disorder, and overconsumption of alcohol.
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Regional Segment of Diazepam Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global diazepam market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region held the largest market share of 36.7% in the year 2019. This growth is attributed to increased medical innovations and funding provided by the public and private organizations. Latin America’s diazepam market is expected to witness significant growth, owing to advancements in therapeutics’ field to intensify accuracy and reliability. The market in North America region is witnessing significant growth due to increasing investments in R&D activities, and high prevalence of insomnia, and alcohol withdrawal. In the Middle East countries like UAE, anxiety disorder is one of the top mental health issues.
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About the report:
The global diazepam market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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