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Barbiturate Drugs Market Size
Barbiturate Drugs Market size was valued at USD 472.9 million in 2023 and is estimated to grow at a CAGR of 3% between 2024 and 2032 to reach USD 613.7 million by 2032. Barbiturate drugs belong to a class of central nervous system depressants known for their sedative, hypnotic, and anticonvulsant properties. They exert their effects by enhancing the activity of the neurotransmitter gamma-aminobutyric acid (GABA) in the brain, resulting in sedation, muscle relaxation, and anxiety reduction.
Initially widely used for medical purposes such as treating insomnia, anxiety, epilepsy, and anesthesia for surgical procedures, barbiturates have seen a decline in use due to their potential for abuse and overdose. The increasing prevalence of neurological disorders has become a significant driver for the market.
According to the World Federation of Neurology in 2023, neurological disorders rank as the second-highest cause of death and the primary cause of disability worldwide. It's estimated that over 40% of the global population currently experiences some form of neurological condition, with this burden expected to nearly double by 2050. As a result, there is a notable surge in demand for innovative treatments and therapies to address the rising incidence of neurological disorders.
Furthermore, rising geriatric population, introduction of a novel drug delivery system, technological advancements in drug delivery, among other contributing factors are estimated to propel the growth of the market in the forthcoming years.
Who are the key leaders in the barbiturate drugs industry?
Johnson & Johnson, Merck & Co., Inc., Novartis AG, Par Pharmaceutical Companies, Inc., Pfizer Inc., Samarth Life Sciences Pvt Ltd., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Limited, are some of the major barbiturate drugs companies worldwide.
How big is the North America barbiturate drugs market?
North America barbiturate drugs industry reached USD 191.6 million in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the presence of a well-developed healthcare infrastructure with modern facilities and sophisticated medical technology in the region.
Why is the demand for long-acting barbiturate drugs growing?
The long-acting barbiturate segment recorded USD 200.4 million in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their ability to provide sustained drug release over an extended period ensuring prolonged therapeutic effects.
What is the size of the barbiturate drugs industry?
Barbiturate drugs market size was USD 472.9 million in 2023 and is expected to register 3% CAGR from 2024-2032 owing to the surge in demand for innovative treatments and therapies to address the rising incidence of neurological disorders worldwide.