Pharmaceutical Alprazolam Tablets is fastest growing segment fueling growth of Alprazolam Tablets Market
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| Alprazolam Tablets Market |
The global Alprazolam Tablets
Market is estimated to be valued at US$ 2,815.66 Mn in 2023 and is expected to
exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in
a new report published by Coherent Market Insights.
Market Overview:
Alprazolam tablets are
prescription medication primarily used for the treatment of anxiety disorders
like generalized anxiety disorder (GAD), panic disorders, anxiety associated
with depression and social anxiety disorder. It belongs to a class of
medications called benzodiazepines that act as central nervous system
depressants.
Market key trends:
Growing prevalence of anxiety
disorders across the globe is a major factor driving demand for alprazolam
tablets. Alprazolam is the most prescribed medication for the treatment of
anxiety disorders. According to WHO, anxiety disorders are the most common
mental disorders affecting over 264 million people globally. Increasing demand
for generic versions of alprazolam is also fueling market growth. Generic drugs
provide high quality treatment at relatively lower costs compared to branded
versions. Moreover, growing awareness about availability and efficacy of
psychiatric medications for treating anxiety disorders is contributing to
market expansion.
Segment Analysis
The global Alprazolam Tablets
Market is segmented into generic and branded. The generic segment dominates the
market and is expected to continue its dominance over the forecast period.
Generic alprazolam tablets offer significant cost savings over branded counterparts
and provide similar therapeutic benefits. Additionally, the expiry of major
drug patents has encouraged the entry of multiple generic manufacturers,
intensifying competition and contributing to lower prices.
Key Takeaways
The Global
Alprazolam Tablets Market Size is expected to witness high growth,
exhibiting a CAGR of 3.9% over the forecast period, due to rising mental health
disorder prevalence and increased prescription of alprazolam.
Regional analysis - North America currently dominates the market
and is expected to continue its dominance over the forecast period. This is
attributed to the high demand for anxiety disorder treatment drugs in the
region. Asia Pacific is anticipated to be the fastest growing regional market
owing to rapidly improving healthcare infrastructure and growing awareness
about mental health issues.
Key players - Key players operating in the Alprazolam Tablets
market include Mitsubishi Gas Chemical Company Inc., The DOW Chemical Company,
Versalis / EniChem, Refinery of Sinopec Jinling (Sinopec), EMD Performance
Materials, Toyo Gosei Co., Ltd, Jiangsu Jiuri Chemical Co., Ltd., Nantong
Dingji Chemical Technology Co., Ltd. Jurong Anbei Chemical Co., Ltd., and
Jinzhou Petrochemical Co., Ltd. Mitsubishi Gas Chemical Company Inc. is one of
the leading players dominating the market owing to its significant production
capacity and experience in the pharmaceutical industry.
Get More Insights Here
https://www.newsstatix.com/alprazolam-tablets-market-share-size-forecast-outlook-2023-2030/
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