Despite growing awareness of alternative treatments,
Future Market Insights (FMI) forecasts a steady rise in the
barbiturate drug market. This growth is primarily driven by the
increasing demand for barbiturates in treating epilepsy, a
condition with a rising prevalence, particularly among the aging
population. This highlights the continued significance of
barbiturates in managing specific neurological disorders. Get full
report insights.
NEWARK, Del. ,
April 30,
2024 /PRNewswire/ -- The barbiturate drug
market value is expected to rise from US$ 492.8 million in 2024 to US$ 675.0 million by 2034. This market is
analyzed to surge ahead at a CAGR of 3.20% over the next
decade.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19549
Demand for barbiturate drugs is observing a steady increase due
to their use in the treatment of epilepsy, insomnia, and anxiety.
The surging geriatric population is another key factor responsible
for the growth of the barbiturate drug market.
While the consumption of barbiturate drugs in countries with
high-income holders continues to expand, countries consisting of
low- and middle-income populations are also experiencing greater
demand for barbiturate drugs.
Growing awareness regarding the availability of different
treatment options for insomnia is propelling the use of barbiturate
drugs. Additionally, rising stress levels in society are creating
an environment that is conducive for medication manufacturers, like
barbiturate drug providers.
Increasing psychological disorders in society are expanding the
scope of market players over the forecast period. Additionally, the
growing presence of barbiturate drug companies, surging healthcare
expenditure, and increasing availability of medication are
propelling the use of barbiturate drugs.
Enhancements in barbiturate drug formulations are projected to
enhance the market growth over the upcoming years. Surging cases of
neurological disorders fuel demand for barbiturate drugs.
Additionally, the introduction of novel drug delivery systems is
offering a multitude of advantages across several facets of this
market.
"Key players are screening opportunities for expansion in the
emerging economies in the next ten years. These countries,
especially those situated in Asia
Pacific, have a high patient burden of epilepsy and
insomnia, which is pushing the players to increase their stakes in
these countries," says Sabyasachi
Ghosh (Associate Vice President at Future Market
Insights, Inc.).
Key Takeaways from the Barbiturate Drug Market Report
- The barbiturate drug market registered a revenue of
US$ 472.9 million in 2023, stretching
at a CAGR of 5.20% in the historical period.
- By drug type, the long-acting barbiturate is in line to expand
at a CAGR of 3% over the forecast period.
- Based on application, the epilepsy segment is anticipated to
expand at a 2.8% CAGR in the next ten years.
- The United States barbiturate
drug market is expected to be valued as a leading market, gaining
revenue of US$ 120.1 million by 2034.
The market is supposed to register a CAGR of 3.5% over the forecast
period.
- The Chinese market is projected to be valued at US$ 106.8 million in 2034. During the forecast
period, the market is forecast to expand at a 3.9% CAGR.
New Developments that are Building the Barbiturate Drug
Market
- Ethypharm, a key market player, agreed on a definitive contract
to obtain Altan Pharma in June 2021.
The latter is a specialty pharmaceutical company that produces,
develops, and advertises injectables for use in hospitals. This
acquisition is expected to facilitate the entry of Ethypharm into
Spain.
- Ethypharm made its presence felt on a larger scale via a fully
established affiliate in Italy in
April 2021.
Purchase now and gain full access to
the Barbiturate Drug Industry report, featuring comprehensive
Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
About the Author:
Sabyasachi Ghosh (Associate Vice
President at Future Market Insights, Inc.) holds over 12 years of
experience in the Healthcare, Medical Devices, and Pharmaceutical
industries. His curious and analytical nature helped him shape his
career as a researcher.
Identifying key challenges faced by clients and devising robust,
hypothesis-based solutions to empower them with strategic
decision-making capabilities come naturally to him. His primary
expertise lies in areas such as Market Entry and Expansion
Strategy, Feasibility Studies, Competitive Intelligence, and
Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored
numerous publications and has been cited in journals, including The
Journal of mHealth, ITN Online, and Spinal Surgery News.
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About Future Market Insights (FMI)
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