The Tranquilizer Drugs Market Size was valued at USD 2.1 Billion in 2022. The Tranquilizer Drugs market industry is projected to grow from USD 2.18 Billion in 2023 to USD 2.89 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.60% during the forecast period (2023 - 2032). Increased spending on R&D to create new products and an increase in psychological problems are the key market drivers accelerating market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for tranquilizer drugs is being driven by the increase in the elderly population. Drugs known as tranquillizers are used to ease anxiety, quiet the mind, and promote a serene mindset without significantly hypnotizing or sedating the user. Tranquillizers are frequently utilized and play a significant role in psychological illnesses.
Additionally, the market for sedative-hypnotic medications will grow as more initiatives by public and commercial organizations to raise awareness of various fungal illnesses are launched. Additionally, the market for sedative-hypnotic medications would grow due to people's high disposable money and inactive lifestyles. Along with this, the market's growth rate will be accelerated by the ageing population and an increase in thrombotic occurrences. Furthermore, the market for sedative-hypnotic medications is projected to be driven by the exponential rise in incidence of chronic blood illnesses. The market is being driven by an increase in the prevalence of chronic disorders including cardiovascular diseases. One of the primary drivers of the growth rate of the world market for sedative-hypnotic medications is the increase in the prevalence of cardiovascular illnesses.
Demand for sedative-hypnotic medications is expected to increase due to the growing number of geriatric people, who are more susceptible to cardiac disorders. In the upcoming years, it is expected that the proportion of people over 65 will double. Chronic illnesses are more prone to emerge in older people including cardiovascular disease, which may increase demand for sedative-hypnotic medications ly. Sedative-hypnotic medications, however, can have a number of adverse effects, such as fatigue, confusion, dizziness, and reduced coordination. These medicines can cause dependency, addiction, and withdrawal symptoms if used over an extended period of time or in excess. Sedative-hypnotic drug prescription rates and patient compliance may be affected by safety issues related to these medications.
For instance, The WHO estimates that the world's elderly population, which was roughly 524 million in 2010, will grow to over 2 billion (22% of the world's population) by 2050. According to the National Alliance on Mental Illness, more than six million of the 35 million Americans 65 and older who live in the country suffer from depression. Thus, result in driving the Tranquilizer Drugs market revenue.
The Tranquilizer Drugs market segmentation, based on Major Tranquilizers includes Phenothiazine Derivatives, Butyrophenones, Thioxanthene Derivatives, and Others. The butyrophenones segment dominated the market. Butyrophenones are advised for the management of tics and vocal utterances of Tourette's disorder in both children and adults, and they are utilized in psychotic diseases such as schizophrenia and mania.
Figure 1: Tranquilizer Drugs Market, by Major Tranquilizers, 2022 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Tranquilizer Drugs market segmentation, based on Minor Tranquilizers, includes Benzodiazepine Derivatives, Propanediol Dicarbamate Derivatives, Cyclopyrrolone Derivatives, and Others. The benzodiazepine derivatives category generated the most income. The most often prescribed anxiolytic drugs are benzodiazepines. The GABA-A Receptor on the benzodiazepine receptor is where benzodiazepines bind. They improve how well GABA binds and works. Depression of the central nervous system occurs from this.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Tranquilizer Drugs market area will dominate this market, because of the rising use of innovative technology and the rising need for treatments tailored to particular ailments. The increasing number of significant important players and rising healthcare costs will also accelerate the market's growth rate within the area.
Further, the major countries studied in the market report are the US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure 2: TRANQUILIZER DRUGS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Tranquilizer Drugs market represents the second-largest market share because of the region's increasing government activities and growing number of myocardial infarction instances. Further, the German Tranquilizer Drugs market held a dominant market share, and the UK Tranquilizer Drugs market was the European region's fastest-growing market.
The Asia-Pacific Tranquilizer Drugs Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the high prevalence of chronic diseases including AIDS, cancer, and other forms of mental illness in this area. Moreover, China’s Tranquilizer Drugs market held a dominant market share, and the Indian Tranquilizer Drugs market was the Asia-Pacific region's fastest-growing market.
Tranquilizer Drugs Key Market Players & Competitive Insights
Leading market players are putting a lot of money on R&D to broaden the range of their goods, which will help the market for tranquillizer drugs grow even more. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. To grow and endure in an increasingly competitive and challenging market environment, Tranquilizer Drugs industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the Tranquilizer Drugs industry to develop market sector and provide benefits to customers. In recent years, the Tranquilizer Drugs industry has provided the medical business with some of the most significant benefits. Major players in the Tranquilizer Drugs market, including AstraZeneca Plc., Eli Lilly and Company, GlaxoSmithKline plc, Merck & Co., Inc., Pfizer, Inc., Johnson & Johnson, and others, invest in operations for research and development in an effort to improve market demand.
Anglo-Swedish multinational pharmaceutical and biotechnology firm AstraZeneca plc is headquartered in Cambridge, England at the Cambridge Biomedical Campus. Its product line includes treatments for serious illnesses in the cancer, cardiovascular, gastrointestinal, infectious, neurological, respiratory, and inflammatory fields. The majority of its R&D operations are based in Cambridge, England, Gothenburg, Sweden, and Gaithersburg, Maryland, in the United States. In 2021, Following the EMA's earlier clearance, the Swedish Medicines Agency, Läkemedelsverket, said that it would alter the vaccine's name to Vaxzevria, emphasizing that the vaccine's composition would remain the same.
Eli Lilly and Company is an American pharmaceutical corporation with its main headquarters in Indianapolis, Indiana. About 125 nations sell its products. Colonel Eli Lilly, a pharmaceutical chemist and American Civil War veteran, started the business in 1876 and was the person who gave it its name. Merthiolate and penicillin production at Lilly reached a new peak during World War II. By the end of the war, Lilly had dried over two million pints of blood, or "about 20% of the total United States," working with the American Red Cross to process blood plasma during the conflict. In 2020, Lilly declared that its concoction was successful and that it has applied for an emergency use authorization (EUA) with the Food and Drug Administration. On the same day, Regeneron, a competitor, submitted a request for an EUA for a monoclonal antibody therapy.
Key Companies in the Tranquilizer Drugs market include
Tranquilizer Drugs Industry Developments
January 2021: The Oxford-AstraZeneca vaccine has been given the go-ahead in India, the second-most populated nation on earth, opening the door for a widespread vaccination drive. The Serum Institute of India (SII), under the trade name COVISHIELD, was announced as the local manufacturer of the Oxford-AstraZeneca shot.
June 2021: Bentracimab's European license from PhaseBio has been approved, according to Alfasigma. In earlier clinical trials, it was discovered that the new human monoclonal antibody fragment bentracimab could counteract Brilique's and Brilinta's antiplatelet effects.
May 2021: Lilly's request for Tyvyt (sintilimab), in addition to Lilly's own Alimta (pemetrexed) and platinum chemotherapy, for newly discovered nonsquamous non-small cell lung cancer was approved by the FDA.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.1 Billion |
| Market Size 2023 | USD 2.18 Billion |
| Market Size 2032 | USD 2.89 Billion |
| Compound Annual Growth Rate (CAGR) | 3.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Major Tranquilizers, Minor Tranquilizers, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | AstraZeneca Plc., Eli Lilly and Company, GlaxoSmithKline plc, Merck & Co., Inc., Pfizer, Inc., Johnson & Johnson, Bristol-Myers Squibb Company, Allergan, Sun Pharma, Abbott, and Other Key Players |
| Key Market Opportunities | The Number of Research and Development Activities Has Increased |
| Key Market Dynamics | Upgrading Healthcare Infrastructure Investment |
Frequently Asked Questions (FAQ) :
In 2022, the market for tranquilizer medications was expected to reach USD 2.1 billion.
During the forecast period, 2023-2032, the market is anticipated to expand at a CAGR of 3.60%.
In terms of market share globally, North America was dominant.
Eli Lilly and Company, GlaxoSmithKline plc, Merck & Co., Inc., Pfizer, Inc., Johnson & Johnson, and other major companies are among the market's leading competitors.
In 2022, the market was dominated by the butyrophenones category.
On the global market, Benzodiazepine Derivatives held the greatest market share.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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