FLUMAZENIL MARKET ANALYSIS

Flumazenil is an antagonist directed through injection or intranasally. Medicinally, it performances as antagonist and antidote to benzodiazepines. Flumazenil is also used in anesthesia to wake up the patient after diagnostic tests. Flumazenil is administered in the vein in diluted or undiluted form.

Global Flumazenil Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to hamper growth of the global flumazenil market, owing to disturbance in drug supply chain. For instance, according to data reported by United Nations Office on Drugs and Crime in July 2020, the effective measures taken to control the spread of COVID-19 pandemic has at the end badly affected to drug supply chain. Several countries across the world have reported an overall shortage of several types of drugs at the retail level. Supply chain affected the transport and production of Flumazenil, which has hampered the supply of Flumazenil in market.

Discontinuation of Flumazenil drug from market is expected to restrict the global flumazenil market.  For instance, in March 2020, U.S. Food and Drug Administration introduced guidelines to the industries to notify FDA about the permanent discontinuance or interruption in manufacturing of drugs Under Section 506C of the Federal Food, Drug, and Cosmetic Act (FD&C Act). The U.S. FDA has published the data of discontinuation of flumazenil injection, which was present in the form of 0.5 mg in 5 mL (0.1 mg/mL), multi-dose vial.

Global flumazenil market is estimated to be valued at US$ 20.528 Mn in 2022 and is expected to exhibit a CAGR of 2.8% over the forecast period (2022-2030)

Figure 1: Global Flumazenil Market Share, (%), Analysis, By Application, 2022

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Market players are concentrating on launching of new products. This is expected to drive growth of the global flumazenil market over the forecast period.

Market players are launching new products, which is expected to drive growth of the global flumazenil market over the forecast period. For instance, in January 2018, Hikma Pharmaceuticals, a developer of medicines, had launched its product Flumazenil Injection, USP 0.5 mg/5 mL. Flumazenil Injection contain active ingredients such as flumazenil and inactive ingredients such as acetic acid, hydrochloric acid, sodium hydroxide, methylparaben, sodium chloride, propylparaben, and edetate disodium. Flumazenil, is an imidazobenzodiazepine derivative, which disaffects the actions of benzodiazepines on the central nervous system.

Increasing number of anxiety disorders among people is expected to drive growth of the global flumazenil market over the forecast period.

Increasing number of people with anxiety disorders is expected to propel growth of the global flumazenil market over the forecast period. For instance, according to data published in April 2018, by Our World in Data, a scientific online publication, about 284 million people were suffering from anxiety disorders globally in the year 2017. For the treatment of anxiety disorders antidepressant drugs such as benzodiazepines are prescribed for the patient. Flumazenil is used as a general anesthesia for complete or partial reversal of the sedative effects caused by benzodiazepines in patients, which it is expected drive growth of the global flumazenil market.

Global Flumazenil Market– Restraints

Increasing side effects of the Flumazenil drug are expected to hamper growth of the global flumazenil market, over the forecast period. For instance, according to May 8, 2022 data of National Institute of Health, use of flumazenil causes side effects such as sedation, neurologic effects, seizure, cardiovascular diseases such as hypertension, bradycardia, tachycardia, chest pain, arrhythmias. These issues may hamper growth of the global flumazenil market.

Global Flumazenil Market – Regional Analysis

On the basis of region, the global flumazenil market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Among regions, North America flumazenil market is expected to hold a dominant position during the forecast period, owing to increasing anxiety disorders in people. For instance, according to data published on March 26, 2021 by Centers for the Disease Control and Prevention in February 2021, the percentage of adults with symptoms of an anxiety or a depressive disorder increased from 36.4% to 41.5%. For treating anxiety disorder benzodiazepine is given to the patients in early stage. Benzodiazepines cause sedative effects among people. Flumazenil is used as a general anesthesia for complete or partial reversal of the sedative effects in patients, which it is expected to drive the growth of the global flumazenil market.

Furthermore, Europe is also estimated to witness significant growth in the flumazenil market, owing to increasing prevalence of liver cirrhosis disease. For instance, according to the data published on November 03, 2021 by the The Lancet Regional Health - Europe, between 2005 to 2018, a total of 2,302,171 patients had diagnosis of cirrhosis. A chronic disease of the liver such as cirrhosis causes degeneration of cells, inflammation, and fibrous thickening of tissue. Flumazenil is used for the treatment of cirrhosis in early stage, is expected to drive growth of the flumazenil market.

Figure 2: Global Flumazenil Market (US$ Bn), by Region, 2022

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Global Flumazenil Market – Competitive Landscape

Major players operating in the global flumazenil market include Hoffmann La Roche, Akorn-Strides, LLC, Sandoz Canada Incorporated, Fresenius Kabi USA, LLC, Mylan Pharmaceuticals, Genentech, Inc., General Injectables & Vaccines Inc, Sina Health Inc, West Ward Pharmaceutical, HF Acquisition Co. LLC, DBA HealthFirst, Hikma Farmaceutica, Pfizer Laboratories Div Pfizer Inc., Physicians Total Care, Inc., and Bedford Pharmaceuticals.