Alprazolam tablets, also known as Xanax, are a short-acting benzodiazepine medication used to treat anxiety disorders, panic disorder, and anxiety caused by depression. Alprazolam is also used to treat anxiety and panic attacks caused by depression. It works by enhancing the effects of the natural calming chemical gamma-aminobutyric acid (GABA) in the brain. The global alprazolam tablets market is gaining traction over the recent past years due the rise in the prevalence of anxiety disorder globally. As per World Health Organization data, over 264 million people suffer from anxiety disorders worldwide.
The global alprazolam tablets market size is estimated to be valued at US$ 2815.66 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising prevalence of anxiety disorder remains a key driver fueling growth of the alprazolam tablets market. According to estimates by Anxiety and Depression Association of America (ADAA), anxiety disorders are the most common mental illness in the U.S., affecting over 40 million adults age 18 and older every year. Easy availability of generic version alprazolam tablets owing to patent expiration of branded alprazolam tablets such as Xanax and generic alprazolam is also contributing to the growth of the market. Generic drugs are significantly cheaper than their branded counterparts, increasing their adoption rate globally. However, side effects associated with prolonged use of alprazolam such as drowsiness, dizziness, sexual problems and withdrawal symptoms upon discontinuation may hamper demand to some extent over the forecast period.
SWOT Analysis
Strength: Alprazolam tablets are highly effective in treating anxiety disorders such as panic disorder and social anxiety disorder. They work by enhancing the effects of the inhibitory neurotransmitter GABA in the brain. The market is expected to grow significantly over the forecast period due to high prevalence of anxiety disorders.
Weakness: Prolonged usage of alprazolam tablets can lead to dependence and addiction. Abrupt discontinuation can cause withdrawal symptoms. Additionally, alprazolam tablets are associated with side effects such as dizziness, insomnia, sedation and dry mouth which limits their usage.
Opportunity: There is significant scope for market expansion in developing regions of Asia Pacific and Latin America owing to rising awareness about treatment of anxiety disorders. Further, novel drug delivery formulations such as extended release formulations can widen the target population.
Threats: Presence of generic competition poses pricing pressure on branded drugs. Moreover, non-pharmacological treatment alternatives like psychotherapy, meditation and yoga can threaten the market growth.
Key Takeaways
The global Alprazolam Tablets market is expected to witness high growth at a CAGR of 6.4% during the forecast period of 2023 to 2030. It is projected to reach a market size of US$ 4820.5 Mn by 2030 from US$ 2815.66 Mn in 2023.
Regional analysis: The Alprazolam Tablets market in North America is currently the largest contributing region driven by high prevalence of anxiety disorders and favorable reimbursement policies. Asia Pacific region is expected to showcase significant growth opportunities owing to rising awareness, growing healthcare spending and presence of less stringent regulations compared to developed markets.
Key players: Key players operating in the Alprazolam Tablets market are Chanel S.A, Guess Inc., Gianni Versace S.p.A, Alex and Ani, LLC, Pandora A/S, LVMH Moët Hennessy Louis Vuitton SE, Hermes International SA, Hennes & Mauritz Ab, ZARA ESPANA SA, and Gucci. These players are engaged in new product development and expansion of manufacturing facilities and distribution networks to strengthen their presence in different geographies.
Get more insights on this topic: https://www.trendingwebwire.com/alprazolam-tablets-market-size-and-outlook-2023-2030/
Market Research Future (MRFR), in its recently published research report, asserts that the global Tablets & Notebook Display market is likely to secure a substantial market valuation.
Increasing adoption of touch-based and energy efficient devices is set to drive the tablets & notebook display market during the forecast period.
A display is a computer projecting mechanism and output surface that shows graphic images and text to user using cathode ray oscilloscope (CRT), LCD, LED or other projection technologies.
Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/1179 Segmentation Global tablets & notebook display market can be segmented as follows: By product, the market is segmented into tablets and notebook/laptop.By technology, the market is segmented into LCD, LED, OLED, and AMOLED.
LCD is further segmented into TFT and IPS.By touch type, the market is segmented into capacitive and resistive.By display size, the market is segmented into less than 10 inches, 10 to 15 inches, and more than 15 inches.By end-user, the market is segmented into consumer and enterprises.By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The geographical analysis of tablet & notebook display market is done for North America, Europe, Asia-Pacific, and the rest of the world.
