Barbiturate Drugs Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

Barbiturate Drugs Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

The barbiturate drug market is expected to register a CAGR of 3.7% over the forecast period, 2022-2027.

The COVID-19 pandemic has created exceptional changes in the lives of the people. For many, it has caused significant stress, anxiety, sleep disorder, and concerns about health, social isolation, employment, finances, and the challenge of balancing work and family obligations. Such a significant life event is likely to disrupt sleep and has an impact on market growth. The COVID-19 pandemic has impacted sleep. According to the American Academy of Sleep Medicine's (AASM) Sleep Prioritization Survey 2020, about a third of adults (33%) have noticed a change in their sleep quality, 30% have noticed a change in their ability to fall asleep, and 29% have noticed a change in their nightly amount of sleep. In addition, females were more likely to report that bedtimes (31%) are impacted by the COVID-19 pandemic than males (25%).

The rise in prevalence of insomnia, epilepsy, and anxiety and the increase in the geriatric population are projected to drive the global barbiturate drug market during the forecast period. For instance, according to the World Health Organization facts of 2022, epilepsy is one of the most common neurological diseases globally and affects about 50 million people worldwide. In high-income countries, about 49 per 100000 people are usually diagnosed with epilepsy each year, and in low- and middle-income countries, this figure can be as high as 139 per 100 000.

However, side effects associated with barbiturate drugs and patient expiration are expected to restrain the barbiturate drugs market over the forecast period.

Key Market TrendsInsomnia is Expected to Hold a Major Market Share Over the Forecast Period

The rise in prevalence of insomnia, increasing awareness about various treatment options for this condition, and rising stress levels in society are some of the factors expected to propel the insomnia segment growth over the forecast period. According to a study published by the American Journal of Managed Care in April 2020, titled “Insomnia Overview: Epidemiology, Pathophysiology, Diagnosis and Monitoring, and Nonpharmacologic Therapy,” insomnia is one of the most common sleep disorders, and it is a substantial burden for the United States healthcare system. The combined direct and indirect costs of insomnia in the United States exceed USD 100 billion annually.

Additionally, according to a study published by Frontiers Media SA in 2021, titled “The Epidemiology of Insomnia and Sleep Duration Across Mental and Physical Health: The SHoT Study,” the overall prevalence of insomnia in the healthy reference group was 21.7% and was significantly higher among female (24.8%) compared to male (16.4%). Moreover, the growth of psychological conditions and constantly increasing noise levels in urban areas are anticipated to increase insomnia in society, driving the segment market over the forecast period.

hus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.

North America is Expected to Dominate the Global Barbiturate Market

An increase in health care expenditure and the upsurge in the incidence of insomnia, epilepsy, and anxiety are expected to drive market growth. According to the American Academy of Sleep Medicine 2020, sleeping disorders affect about 20% of the population in the United States each year. Also, according to the Centre for Disease Control and Prevention in 2020, about 470,000 children and around 3 million adults have active epilepsy in the United States. The number of Americans who have epilepsy is greater than the number who have multiple sclerosis, Parkinson’s disease, and cerebral palsy combined. Thus, there is a rising demand for effective treatments such as barbiturates in the region which is expected to boost the growth of the barbiturates drug market in the region. Furthermore, according to data published by sleep advisor in 2022, about 30% of the United States adult population suffer from insomnia and 10% from chronic insomnia, making it the most common sleep disorder.

Moreover, the presence of a large number of barbiturate drug companies, availability of drugs, and high healthcare expenditure are anticipated to further propel the growth of the barbiturates drug market in the region.

Competitive Landscape

The barbiturate drug market is fragmented and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Par Pharmaceutical, Akorn Operating Company LLC, Samarth Life Sciences Pvt Ltd, Ethypharm, Abbott, Centurion Healthcare Private Limited, and Intas Pharmaceuticals Ltd.

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