Benzodiazepine sales expected to hit $3.1 billion by 2032
According to a press release in Digital Journal from March 17, 2023, the "market for benzodiazepine medications is expected to reach US $3.1 billion by the end of 2032." This is an increase of approximately $800 million since 2022. The compound annual growth (CAGR) is expected to be 2.8% globally for benzodiazepines, and as high as 3.0% for alprazolam (Xanax) specifically.
The article attributed the increase in demand to "the rising frequency of anxiety disorders and elevated levels of stress among the world's population," and that the North American market is "expected to be the most advantageous for benzodiazepine drug producers in the future years."
For those of us focused on the overprescribing of benzodiazepines and the detrimental effects these drugs can have on those who have taken them long-term, this is very concerning news. While we continue to focus on education and awareness — both in the medical and public sectors — the increase in anxiety, panic attacks, and stress-induced mental disorders is a difficult tide to stem. While the article identifies fast-paced lifestyles, poor work-life balance, and rapid urbanization as the primary causes of this increase, other factors such as the pandemic, social media, and geo-political instability have been noted and may be equally responsible for the increase.
We will continue to monitor the benzodiazepine and Z-drug markets and keep you informed.
"Sales Of Benzodiazepine Drugs Are Anticipated To Reach US$ 3.1 Billion By 2032." Digital Journal. March 17, 2023. Accessed March 17, 2023. https://www.digitaljournal.com/pr/news/sales-of-benzodiazepine-drugs-are-anticipated-to-reach-us-3-1-billion-by-2032.
Sarangi A, McMahon T, Gude J. Benzodiazepine Misuse: An Epidemic Within a Pandemic. Cureus. 2021 Jun 21;13(6):e15816. doi: 10.7759/cureus.15816. PMID: 34306882; PMCID: PMC8294026. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8294026/.