SEATTLE, April 18, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights, global benzodiazepine drugs market is estimated to be valued at US$ 3,050.4 million in 2022 and is expected to exhibit a CAGR of 3.2% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Benzodiazepine Drugs Market:
Key trends in the market include increasing product approvals, increasing prevalence of chronic diseases, increasing research and development activities, and inorganic growth activities such as collaborations, etc.
Increasing product launches by the market players is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in January 2022, Hikma Pharmaceuticals PLC (Hikma), a global pharmaceutical company announced the launch of diazepam injection, USP through its Hikma Pharmaceuticals USA Inc., subsidiary in the U.S. The company introduced a 5mg/mL dosage in a 2mL dose of diazepam injection. Diazepam is a long-acting benzodiazepine which is indicated for the management of anxiety, convulsive seizures, and alcohol withdrawals.
Market players are indulged in inorganic growth activities, such as partnerships, which is expected to drive growth of the market over the forecast period. For instance, in January 2021, Premier Inc., a leading healthcare improvement company, through its ProvideGx program announced a partnership with Pfizer Inc. to supply five essential medications to healthcare providers, assisting in meeting the immediate and long-term supply needs of medications required for a variety of patient care interventions, during the COVID-19 pandemic. The five medications are diazepam, labetalol, lorazepam, fentanyl citrate, and 0.9 percent sodium chloride injection.
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Key players are engaged in expanding manufacturing facility, which is expected to drive growth of the global benzodiazepine drugs market over the forecast period. For instance, in October 2020, Roche Canada, a subsidiary of Hoffmann-La Roche announced a US$ 500 million investment to expand its Mississauga facility. This five-year million-dollar investment will construct …