Market Trends of Alprazolam Powder Industry
Anxiety Segment is Expected to Witness Growth Over the Forecast Period
Anxiety is a state of intense, excessive, and persistent worry and fear about the situations currently occurring in a person's life. Anxiety can be common under demanding circumstances, such as giving a public speech or taking an exam. When anxiety becomes enormous, overwhelming, and interferes with everyday life, it is merely a sign of an underlying illness.
The increase in cases of anxiety is expected to raise the demand for alprazolam products, boosting the segment’s growth during the forecast period. For instance, according to the Mental Health Foundation, during 2022-2023, an average of 37.1% of women and 29.9% of men reported high anxiety levels in the United Kingdom.
Furthermore, an increase in government initiatives and campaigns to educate the public regarding the importance of mental health is expected to bolster the segment’s growth during the study period. For instance, in October 2022, the Pan American Health Organization (PAHO) launched #DoYourShare to support mental health, a campaign that seeks to cure the stigma and discrimination experienced by people with mental health conditions and promote positive interactions that improve their search for help.
Similarly, in October 2022, Harvard launched a campus-wide mental health awareness campaign and new student wellness resources. The university's campaign officially began with the launch of the online learning module. Thus, such awareness campaigns are expected to educate people to come out of their hesitation to take medication for mental illness and promote treatment for anxiety, thereby bolstering the segment’s growth over the study period.
Thus, owing to the increase in anxiety cases and the rise in government initiatives to educate people regarding the importance of treating anxiety, the segment is expected to witness significant growth during the forecast period.
North America is Expected to Witness Significant Growth Over the Forecast Period
North America is expected to witness significant market growth owing to better healthcare infrastructure, high awareness, and the presence of major industry players. Moreover, an increase in the prevalence of mental disorders is further expected to bolster market growth. For instance, according to the reports published by Mental Health America in 2023, the prevalence of mental illness ranked first in Kentucky in 2022.
In addition, 15.35% of adults in North America reported having substance use disorders, 6.82% reported illicit drug use disorders, and 10.96% reported alcohol use disorders in 2022. The state prevalence of adult mental illness ranged from 17.49% in Florida to 29.68% in Utah in 2022.
Similarly, according to the Canadian Institute for Health Information (CIHI), three out of five children and youth (aged 12 to 24 years) with self-reported early needs accessed mental health and substance use services in Canada. The high prevalence of mental health diseases is expected to raise the demand for alprazolam powder to manufacture more alprazolam products in North America.
Furthermore, an increase in research funding for developing mental health treatment products is expected to bolster market growth in North America during the study period. For instance, in March 2022, Texas Health and Human Services launched a public awareness campaign worth USD 23.2 million to prevent substance use disorders and help the public access necessary treatment and services.
Thus, due to the increase in mental health diseases and government funding for treating mental illness, North America is expected to witness significant growth during the forecast period.
