Sedative Drugs Market: Overview
- Sedative drugs are substances that moderate activity and excitement while inducing a calming effect. Antianxiety and sedative drugs are used with a variety of different psychiatric disorders, usually in combination with other medications.
- In clinical therapeutics, sedative-hypnotics are used for the treatment of variety of diseases that affect the central nervous system, such as chronic and acute anxiety, anesthesia, seizure control, and insomnia
- Insomnia presents an increasing and significant health issue in the adult as well as pediatric population. Rapid population growth, changing lifestyles, and work pressure have resulted in rising prevalence of insomnia.
- According to the U.S. FDA, the cost of insomnia in the U.S. is over US$ 100 Bn annually. To date, sleeping pills have been by far the most common medical treatment, with nearly nine million adults having taken prescription sleeping pills.
- Increase in prevalence of insomnia and other psychological disorders coupled with growing awareness level is projected to lead to strong growth of the sedative drugs market
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Key Drivers of Global Sedative Drugs Market
- The global sedative drugs market is expected to be driven by increasing investment in research & development for new product innovation, rise in demand for insomnia drugs, and increase in psychological disorders and stress due to changing lifestyle
- Rise in demand for insomnia drugs and market competitiveness has resulted in increase in investment in research & development for new product innovation. This is likely to drive the sedative drugs market.
- Companies are entering into licensing agreements for the development and marketing of insomnia products, acquisition of promising late-stage pipeline assets from smaller firms, and partnership with academia to accelerate development of new drug therapies
North America to Hold Major Share of Global Sedative Drugs Market
- North America is projected to account for a prominent share of the global market during the forecast period. High research & development activities in the field of pharmaceutical drugs, rising burden of psychological diseases, large number of research institutes, and growing need for new and improved therapies to address medical conditions, are expected to fuel the growth of the market in the region.
- According to a report by the American Academy of Sleep Medicine, approximately one in four people in the U.S. develops insomnia every year. About 30% of the adults in the U.S. have symptoms of insomnia and up to 10% of adults are likely to develop chronic insomnia. Rise in prevalence of sleep disorders among individuals would subsequently lead to uptake of antianxiety drugs, thereby increasing the demand for sedative drugs in the near future.
- Economic growth in India, China, Brazil, Mexico, and other countries in Asia and Latin America has improved the health care infrastructure and accessibility to innovative products and health care services. Moreover, rise in incidence of neurological diseases is expected to drive the sedative drugs market.
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Key Players Operating in Global Sedative Drugs Market
Major players operating in the global sedative drugs market are:
- AstraZeneca Plc.
- PAION AG
- Drawbridge Pharmaceuticals Pty Ltd.
- Takeda Pharmaceutical
- Sanofi S.A.
- Novartis International AG
- Abbott Laboratories
- Pfizer Inc.
- Mylan N.V.
Global Sedative Drugs Market: Research Scope
Global Sedative Drugs Market, by Drug Class
- Methaqualone and Analogues
Global Sedative Drugs Market, by Application
- Sleep Disorders
Global Sedative Drugs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.