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.

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