Alprazolam Powder Market Size
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Alprazolam Powder Market Analysis
The alprazolam powder market is expected to register a CAGR of 5.3% over the forecast period.
- COVID-19 significantly impacted the Alprazolam market since the key manufacturers witnessed a supply shortage for product manufacturing which further led to supply chain disruption across the globe. However, the abrupt changes in people's lifestyles brought on by the lockdown contributed to anxiety and depression.
- According to an article published in October 2021 in the Journal of the American Medical Association (JAMA) Network, due to the effects of the immediate lockdown, a sharp increase in the utilization of benzodiazepines like alprazolam was reported among the United States population. Such demand increases were unexpected and of great magnitude, exceeding the capacity of manufacturers to maintain adequate supply levels of these pharmaceuticals, which further put the manufacturers under more stress during the pandemic.
- However, as the pandemic restrictions are eased, the market is expected to grow significantly due to the rise in mental health problems and the increase in the adoption of alprazolam products for mental health issues.
- Factors such as an increase in the prevalence of mental illnesses such as depression, and anxiety, a rise in awareness programs to undergo treatment for mental health issues coupled with the surge in research and development activities to develop alprazolam products are expected to bolster the market growth over the study period.
- For instance, according to the March 2023 update by the World Health Organization (WHO), an estimated 3.8% of people in the global population suffer from depression, including 5.7% of those over 60 and 5% of adults (4% of males and 6% of women). Women are around 50% more likely than males to experience depression.
- Similarly, according to the Census Bureau's Household Pulse Survey, half (50%) of individuals between 18 and 24 reported witnessing anxiety or depression in 2023, compared to around a third of all adults. The results also indicated that young adults are more susceptible to mental health issues than individuals in any other age group. Thus, owing to the high prevalence of anxiety and depression, the demand for alprazolam products is likely to increase, driving the market growth for alprazolam powder over the study period.
- Furthermore, the presence of key players, their strategic product launches, and increased research activities demonstrating the benefit offered by Alprazolam are expected to bolster market growth.
- For instance, in December 2022, UCB Biopharma SRL sponsored a clinical study to evaluate the relative bioavailability of alprazolam in plasma following a single dose of Staccato alprazolam compared to a single dose of oral alprazolam under fasted conditions.
- Similarly, according to an article published in March 2023 in Taylor and Francis Online, following the failure of the initial therapy for generalized anxiety disorder, some benzodiazepines (alprazolam, bromazepam, diazepam, and lorazepam) were recommended if the patient doesn't have a history of a drug misuse issue.
- Thus, the high prevalence of mental health diseases and the rise in the adoption of alprazolam products for treating anxiety is expected to bolster the market growth. However, the side effect associated with alprazolam products and the stringent regulatory framework for product approvals is likely to hinder the market growth over the forecast period.
Alprazolam Powder Market Trends
Anxiety Segment is Expected to Witness a Positive Growth Over the Forecast Period
- Anxiety is a state of intense, excessive, and persistent worry and fears about the situations currently occurring in a person's life. Anxiety can be common under demanding circumstances, such as giving a public speech or taking an exam. When anxiety becomes enormous, overwhelming, and interferes with everyday life, it is merely a sign of an underlying illness.
- The increase in cases of anxiety is expected to raise the demand for alprazolam products and thereby boost segment growth over the forecast period. For instance, according to Mental Health Foundation, in 2022-2023, an average of 37.1% of women and 29.9% of men reported high anxiety levels in the United Kingdom.
- Furthermore, an increase in government initiatives and campaigns to educate the public regarding the importance of mental health is expected to bolster the segment growth over the study period. For instance, in October 2022, the Pan American Health Organization (PAHO) launched #DoYourShare to support mental health, a campaign that seeks to cure the stigma and discrimination experienced by people with mental health conditions and promote positive interactions that improve their search for help.
- Similarly, in October 2022, Harvard launched a campus-wide mental health awareness campaign and new student wellness resources. The University's campaign was officially begun with the launch of the online learning module. Thus, such awareness campaigns are expected to educate people to come out of their hesitation to take medication for mental illness and promote treatment for anxiety, thereby expected to bolster the segment growth over the study period.
- Thus, owing to the increase in anxiety cases, and the rise in government initiatives to educate people regarding the importance of treating anxiety, the studied segment is expected to witness significant growth over the forecast period.
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North America is Expected to Witness a Significant Growth Over the Forecast Period
- North America is expected to witness significant market growth owing to better healthcare infrastructure, high awareness, and the presence of major industry players. Moreover, an increase in the prevalence of mental disorders is further expected to bolster market growth. For instance, according to the reports published by Mental Health America in 2023, the prevalence of mental illness ranked 1 in Kentucky in 2022.
- In addition, 15.35% of adults in America reported having a substance use disorder, 6.82% reported an illicit drug use disorder, and 10.96% of adults reported alcohol use disorder in 2022. The state prevalence of adult mental illness ranges from 17.49% in Florida to 29.68% in Utah in 2022.
- Similarly, according to Canadian Institute for Health Information (CIHI), 3 out of 5 children and youth (age 12 to 24) with self-reported early needs accessed mental health and substance use services in Canada. The high prevalence of mental health diseases is expected to raise the demand for alprazolam powder to manufacture more alprazolam products in North America.
- Furthermore, an increase in research funding for developing mental health treatment products is expected to bolster the market growth in North America over the study period. For instance, in March 2022, Texas Health and Human Services launched a USD 23.2 million public awareness campaign to prevent substance use disorders and help the public to access necessary treatment and services.
- Thus, due to the increase in mental health diseases and government funding for treating mental illness, North America is expected to witness significant growth over the forecast period.
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Alprazolam Powder Industry Overview
The Alprazolam powder market is moderately competitive in nature due to the presence of a few companies operating globally as well as regionally. Also, the companies continuously engage in various strategical activities to increase product availability across the regions. A few of the major companies in the market are Taj Pharmaceuticals Limited, Novartis AG (Sandoz), Pfizer Inc., Terrace Pharmaceuticals Ltd, and AdvaCare Pharma, among others.
Alprazolam Powder Market Leaders
Taj Pharmaceuticals Limited
Novartis AG (Sandoz)
Terrace Pharmaceuticals Ltd.
*Disclaimer: Major Players sorted in no particular order
Alprazolam Powder Market News
- May 2023: UCSF Benioff Children's Hospital Oakland opened its first stand-alone outpatient mental health services building dedicated to children and youth as part of its ongoing efforts to address the rising need for pediatric mental health services in Oakland and the region.
- May 2023: The National Alliance on Mental Illness (NAMI) launched #MoreThanEnough, an empowering campaign for 2023 Mental Health Awareness Month. In light of the ongoing mental health crisis, #MoreThanEnough highlighted people's inherent worth and capacity for full lives while highlighting tools and gatherings that foster community and support.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Growing Burden of Mental illness
4.2.2 Rise in Awareness Programs Regarding Mental Health
4.3 Market Restraints
4.3.1 Stringent Regulatory Framework and Adverse Effect of Alprazolam Products
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Formulation Type
5.1.1 Extended Release Tablet
5.1.2 Orally Disintegrating Tablet
5.2 By Application
5.2.1 Panic Disorders
5.2.5 Other Applications
5.3 By End-User
5.3.1 Research Institutes
5.3.2 Pharmaceutical Companies
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Taj Pharmaceuticals Limited
6.1.2 AdvaCare Pharma
6.1.3 Novartis AG (Sandoz)
6.1.4 Pfizer Inc.
6.1.5 Terrace Pharmaceuticals Ltd.
6.1.6 Torrent Pharmaceuticals Ltd.
6.1.7 Lifecare Neuro Products Ltd
6.1.8 Cadila Pharmaceuticals
6.1.9 Marsha Pharma Private Limited
6.1.10 Sun Pharmaceutical Industries Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The Alprazolam Powder Market is studied from 2018 - 2028.
What is the growth rate of Alprazolam Powder Market?
The Alprazolam Powder Market is growing at a CAGR of 5.3% over the next 5 years.
Which region has highest growth rate in Alprazolam Powder Market?
Asia Pacific is growing at the highest CAGR over 2018-2028.
Which region has largest share in Alprazolam Powder Market?
North America holds highest share in 2022.
Who are the key players in Alprazolam Powder Market?
Taj Pharmaceuticals Limited, AdvaCare Pharma, Novartis AG (Sandoz), Pfizer Inc., Terrace Pharmaceuticals Ltd. are the major companies operating in Alprazolam Powder Market.
Alprazolam Powder Industry Report
Statistics for the 2023 Alprazolam Powder market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Alprazolam Powder analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.