Pune, India, Aug. 02, 2021 (GLOBE NEWSWIRE) -- The global delirium management market is expected to value at USD 352.6 million in 2021 and is expected to grow at a CAGR of 5.6% during the forecast period. Most people suffer from neurological disorders that should be controlled. This aspect serves as an important growth factor for the delirium market across the projected timeframe. Delirium is a disorder that causes confused thinking, emotional disruption, and reduced awareness of the environment. This problem is caused mainly due to alcohol withdrawal, dementia, and post-surgery.
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The global delirium management market is driven by the rising prevalence of neurological disorders and the increasing geriatric population, which leads to the rise in the patient population. Government has taken various initiatives by providing increasing programs to create awareness which is expected to contribute to market growth. Market players offer advanced products which are expected to augment market growth during the forecast period.
The rising delirium management product recalls is anticipated to hamper the overall market growth of the global delirium management market over the forecast period. Moreover, the availability of non-pharmacological treatment for the delirium management market is another restraining factor affecting the market growth.
Some Significant Market Developments Considered in the Report:
- July 2021 - USFDA granted approval for an advanced drug for delirium
- June 2020 - Aurinia announced licensing partner Otsuka filled marketing authorization application for delirium management medicine with the European medical agency
- September 2020- SPI Pharma explored the advancements that are helping make drug dosage form patient-centric which result in the increasing demand of the delirium management.
- July 2020- Glenmark Pharmaceuticals launched a new drug for delirium management.
COVID-19 Impact on the Global Delirium Management Market
The QMI team is closely monitoring the impact of COVID-19 on the global delirium management industry, and it has been observed by our team that the demand for a delirium management program is normal during the pandemic time. It is anticipated to grow sharply during the forecast period. To control the spread of pandemic, many countries across the globe have enforced strict lockdown norms, which is hampering business activities. The coronavirus pandemic has severely affected the mental health of the workers. After the onset of the pandemic, many companies have shifted to work from home mode due to which employees had to deal with stress. So, to tackle these issues, delirium management market leaders have launched advanced drug dosages to tackle neurological disorders.
Global Delirium Management Market, by Drug
Based on the drug, the global delirium management market is segmented into first-generation antipsychotics, second-generation antipsychotics and benzodiazepines. Second-generation antipsychotics are the fastest growing market These types of drugs have a lower affinity for the dopamine receptors which will lower the side effects. This is the reason that contributing to market demand for the global delirium management.
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Global Delirium Management Market, by Route of Administration
On the basis of the route of administration, the global delirium management market is segmented into oral, intramuscular, and others. Among these, the oral segment is having the largest market share due to its multiple benefits. For instance, certain oral medicines like haloperidol are widely used for the treatment of delirium. This drug help to treat the neurological issues in a more effective without causing nervousness to the patient after medication.
Global Delirium Management Market, by Distribution Channel
Based on distribution channel, the global delirium management market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies segment holds the largest market share in 2021 and is expected to remain the largest segment during the forecast period. The hospital pharmacist offers patient care with optimized medicine use and promotes disease prevention, health, and wellness. They also have professional skills and ethics and ensure optimal safety in the distribution of medicine. Hence, the patient’s condition will remain stable during the entire drug therapy.
Global Delirium Management Market, by Region
Based on region, the global delirium management market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. North America is expected to be the largest regional market during the forecast period. The regional market growth can be owing to the increasing prevalence of delirium affected population and the rising number of geriatric populations in the region. Growing healthcare infrastructure along with the increasing government support for delirium treatment is expected to enhance the overall growth of the delirium market in North American region.
Asia Pacific is expected to be the fastest-growing region during the forecast period. The regional market growth can be owing to the increasing prevalence of chronic health ailments and infections in the region. Among all the countries in the region, China is witnessing the fastest growth owing to the presence of an older population as well as a rising patient population. Apart from this, the increasing awareness related to health as well as the availability of the new treatment methods are expected to drive the regional market growth.
Some Major Findings of the Delirium Management Market Report Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth delirium management market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global delirium management market, which include Teva Pharmaceutical Industries Ltd., Mylan N.V., Fresenius Kabi AG, Novartis International AG, Akorn Incorporated, Zydus Cadila, Pfizer, Inc., Sun Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals Limited, and BioXcel Therapeutics, Inc.
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global delirium management market
- Impact of COVID-19 on the global delirium management market
Browse key industry insights spread across 195 pages with 135 market data tables and 91 figures & charts from the report “Delirium Management Market, by Drug (First Generation Antipsychotics, Second Generation Antipsychotics, Benzodiazepines), by Route of Administration (Oral, Intramuscular, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), by Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) – Market Size and Forecasting to 2030” and in-depth analysis along with the table of contents (ToC).
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