Rising cases of anxiety is expected to drive the flumazenil market during the forecast period. North America region is anticipated to remain one of the most appealing markets throughout the projection period.
Newark, Dec. 05, 2022 (GLOBE NEWSWIRE) — The flumazenil market was estimated at around USD 18.5 million in 2021, growing at a CAGR of nearly 2.8% during 2022-2030. The market is projected to reach approximately USD 23.7 million by 2030.
Flumazenil is a benzodiazepine inhibitor used to reverse the effects of postoperative drowsiness brought on by benzodiazepine anesthetics. For both adult and pediatric populations, flumazenil injection is used to complete or partial reversal of the sedative effects of benzodiazepines in conscious sedation and general anesthesia. Flumazenil’s market is expected to grow over the projection period due to an increase in the population with anxiety disorders. For instance, figures from the year 2017 from the scholarly online magazine Our World in Data, published in April 2018, showed that 284 million people globally suffered from anxiety disorders.
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Market participants are introducing new products, which is anticipated to fuel market expansion for flumazenil over the forecast period. Flumazenil Injection contains flumazenil as well as acetic acid, hydrochloric acid, sodium hydroxide, methylparaben, sodium chloride, propylparaben, and edetate disodium as inactive components. Flumazenil, a benzodiazepine derivative, prevents benzodiazepines from having their intended effects on the central nervous system.
Flumazenil’s market is expected to grow during the projection period as a result of a rise in the population with anxiety disorders. For instance, statistics from the year 2017 were published in April 2018 by the academic online publication Our World in Data, and they showed that 284 million people globally suffered from anxiety disorders. To treat the patient’s anxiety issues, antidepressant drugs like benzodiazepines are used. The usage of flumazenil as a general anesthetic by patients to fully or partially undo the sedative effects of benzodiazepines is predicted to fuel the growth of the global flumazenil market. The United States, in instance, has one of the highest rates of worry, at 6.64%, when compared to the bulk of other countries that are below this level. It shouldn’t come as a surprise that a lot of mental health professionals believe social media in particular and the growth of the internet has contributed to teen and young adult anxiety. In general, it is thought that social media has negative effects on one’s mental health. Anxiety is probably a result of FOMO (fear of missing out), comparing one’s life to that of others on social media, and the ironic loneliness that some experience as a result of social media. Along with technological advancements, artificial lights and poor sleep have proliferated. Late at night, blue light waves from a phone or computer can be twice as bad for the body’s ability to produce melatonin as ordinary artificial light.
High expectations and pressure to perform well from parents and family are the barrier to grow stress free. Today’s youth may experience pressure to perform in ways that past generations did not because of standardized testing and a culture of achievement. During the projected period, more people are anticipated to experience anxiety.
The market for flumazenil market is segmented into the application, and distribution channel. According to the application, the anti – sedation segment is expected to increase at the quickest rate. Due to modern lifestyles and the widespread use of the internet among all age groups, there are more incidences of anxiety worldwide, but especially in North America. The use of anti-anxiety and sedative medications, which are prescribed to treat anxiety and/or promote sleep, can lead to dependence and a substance use problem. Utilizing prescription medications to reduce anxiety or aid in sleep might lead to reliance.
The hospital pharmacies segment is anticipated to hold major share in the flumazenil market by distribution channel during the forecast period. Depending on the treatments and cases the hospital handles, the hospital pharmacy only keeps a small supply of super specialized drugs and injections. These channels have the option to prescribe drug intake and other things, which makes them more persuasive than other media. Hospital pharmacies are a good option for patients because it is also much more convenient for consumers to receive medications at the closest diagnostic facility.
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The biggest market share of the total market was held by the North America in the flumazenil market. The Centers for Disease Control and Prevention published statistics from February 2021 on March 26, 2021, and it showed that the proportion of adults with symptoms of an anxiety or depressive disorder increased from 36.4% to 41.5% in this region. For the treatment of anxiety disorders, patients are initially given benzodiazepines. By using benzodiazepines, people feel sedation. Flumazenil is used as a general anesthetic for patients to completely or partially reverse the sedative effects, which is expected to lead to an expansion in the worldwide flumazenil market. This region has highest number of patients which is expected to dominant the overall market during the projected period.
Due to the rising incidence of liver cirrhosis, the flumazenil market in Europe is also anticipated to expand significantly. For instance, 2,302,171 patients were diagnosed with cirrhosis between 2005 and 2018, according to data from The Lancet Regional Health – Europe that was published on November 3, 2021. The signs of a chronic liver condition like cirrhosis include cellular degeneration, inflammation, and thickening of fibrous tissue. The flumazenil market is anticipated to develop as a result of its use in the early stages of cirrhosis treatment.
Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Flumazenil Market CAGR
By Distribution Channel
List of the prominent players in the Global Flumazenil market:
• Sandoz Canada Incorporated
• Fresenius Kabi USA, LLC
• West Ward Pharmaceutical
• HF Acquisition Co. LLC
• Pfizer Laboratories Div Pfizer Inc.
• Mylan Pharmaceuticals
• Genentech, Inc.
• General Injectables & Vaccines Inc
• Sina Health Inc
• Bedford Pharmaceuticals
The global Flumazenil market is segmented as follows:
• Anti – Sedation
• Reversing Drowsiness
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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