PUBLISHER: The Business Research Company | PRODUCT CODE: 1513245
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513245
A sedative-hypnotic drug is a chemical substance employed to alleviate tension, anxiety, and induce a sense of calm (sedative effect), or to facilitate sleep (hypnotic effect). These drugs act by suppressing the limbic system, responsible for emotional and behavioral responses, as well as the reticular formation, which regulates sleep patterns and consciousness.
Key types of sedative-hypnotic drugs include benzodiazepines, barbiturates, antihistamines, nonbenzodiazepines, and others. Benzodiazepines, for instance, decrease activity in the brain and nervous system, offering tranquilizing effects used to alleviate symptoms of anxiety and insomnia. These medications can be administered through various routes, such as oral and parenteral, to treat various conditions including sleep disorders, anesthesia, and pain management. They are distributed through channels such as hospital pharmacies, retail pharmacies, and online pharmacies, serving diverse end-users including hospitals, specialty clinics, and home care settings.
The sedative-hypnotic drugs market research report is one of a series of new reports from The Business Research Company that provides sedative-hypnotic drugs market statistics, including sedative-hypnotic drugs industry global market size, regional shares, competitors with a sedative-hypnotic drugs market share, detailed sedative-hypnotic drugs market segments, market trends and opportunities, and any further data you may need to thrive in the sedative-hypnotic drugs industry. This sedative-hypnotic drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sedative-hypnotic drugs market size has grown strongly in recent years. It will grow from $3.29 billion in 2023 to $3.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historical period can be attributed to several factors, including the expansion of direct-to-consumer advertising, heightened stress levels, increased prevalence of sleep disorders, and aging populations.
The sedative-hypnotic drugs market size is expected to see strong growth in the next few years. It will grow to $5.00 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. Looking ahead to the forecast period, growth is anticipated due to the expansion of healthcare infrastructure, rising disposable incomes, a surge in lifestyle-related disorders, growing consumer interest in natural and herbal sleep aids, and the expansion of telemedicine services. Key trends expected in the forecast period include a preference for non-benzodiazepine sedative-hypnotic drugs, advancements in drug delivery technologies, a heightened focus on personalized medicine, integration of digital health tools, and the emergence of new benzodiazepines.
The surge in stress levels is expected to drive the expansion of the sedative-hypnotic drugs market in the foreseeable future. Stress levels denote the mental or emotional exhaustion experienced by individuals due to challenging or unavoidable circumstances. Factors contributing to heightened stress levels include the struggle to balance work and personal life, inadequate coping mechanisms, and escalating work pressure among employees. Sedative-hypnotic drugs act as pharmacological agents primarily aimed at inducing a state of calmness, reducing anxiety levels, and relieving tension within individuals, often through their tranquilizing effects on the central nervous system. For example, as per a survey conducted by the American Psychiatric Association in December 2022, over 26% of American adults anticipated increased stress levels at the beginning of 2023, marking a rise from the 20% reported in the preceding year. Hence, the escalating stress levels are propelling the growth of the sedative-hypnotic drugs market.
Key players in the sedative-hypnotic drugs market are concentrating on broadening their product portfolio by introducing innovative products such as sublingual films for acute treatment of agitation, aiming to gain a competitive advantage. Sublingual films for acute agitation treatment are thin, dissolvable films containing medication placed under the tongue for rapid absorption into the bloodstream. For instance, in April 2022, BioXcel Therapeutics Inc., a US-based biopharmaceutical company, unveiled IGALMI, a sublingual film designed for the acute management of agitation associated with schizophrenia or bipolar I or II disorder in adults. IGALMI represents the first new acute treatment for agitation linked to these disorders in nearly a decade, offering healthcare teams an innovative tool with its rapid onset of action and self-administered film format.
In June 2022, Eagle Pharmaceuticals Inc., a US-based pharmaceutical company, acquired Acacia Pharma Group plc for an undisclosed sum. This strategic acquisition enabled Eagle Pharmaceuticals to expand its product portfolio by incorporating two drugs, 'BARHEMSYS' and 'BYFAVO', enhancing its presence in the acute care domain. Both companies aimed to bolster their position in the oncology and hospital sectors by addressing significant unmet clinical needs. Acacia Pharma Group plc, headquartered in the UK, specializes in the manufacturing of sedative-hypnotic drugs.
Major companies operating in the sedative-hypnotic drugs market are Sun Pharmaceutical Industries Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck And Co. Inc., Bayer AG, Novartis AG, Sanofi-Aventis AG, AstraZeneca Plc, Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Mylan N.V., Fresenius Kabi AG, Eli Lilly and Co., Aurobindo Pharma Limited, Cipla Inc., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals plc, Lupin Pharmaceuticals Inc., Allergan Pharmaceuticals Inc., Glenmark Pharmaceuticals Inc., Torrent Pharmaceuticals Ltd.
North America was the largest region in the sedative-hypnotic drugs market in 2023. The regions covered in the sedative-hypnotic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sedative-hypnotic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sedative-hypnotic drugs market consists of sales of tablets, capsules, injectables, and liquid formulations. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sedative-Hypnotic Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sedative-hypnotic drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sedative-hypnotic drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sedative-hypnotic drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.