Buspiron - Generic Drug Details

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US Patents and Regulatory Information for buspiron

Applicant	Tradename	Generic Name	Dosage	NDA	Approval Date	TE	Type	RLD	RS	Patent No.	Patent Expiration	Product	Substance	Delist Req.	Exclusivity Expiration
Strides Pharma	BUSPIRONE HYDROCHLORIDE	buspirone hydrochloride	TABLET;ORAL	202330-001	Aug 25, 2014	AB	RX	No	No
Aurobindo Pharma Ltd	BUSPIRONE HYDROCHLORIDE	buspirone hydrochloride	TABLET;ORAL	078246-004	Feb 27, 2009	AB	RX	No	No
Mylan	BUSPIRONE HYDROCHLORIDE	buspirone hydrochloride	TABLET;ORAL	075467-001	Feb 28, 2002		DISCN	No	No

Buspiron Market Analysis and Financial Projection Experimental

Buspirone Market Dynamics and Financial Trajectory

Market Introduction

Buspirone, a spiro compound, is primarily used to treat anxiety and related generalized anxiety disorders. It is also utilized for other therapeutic purposes, including the treatment of sexual dysfunction and alcohol withdrawal. The drug is available in generic form, which has significantly influenced its market dynamics[1][3][4].

Market Growth Drivers

The buspirone market is anticipated to experience substantial growth driven by several key factors:

Increasing Prevalence of Neurologic Disorders

The rising prevalence of anxiety disorders, psychosis, and bipolar disorders globally is a major driver. According to the World Health Organization, anxiety disorders affect approximately 264 million people worldwide, creating a burgeoning demand for effective treatments like buspirone[3].

Growing Geriatric Population

The increasing geriatric population across the globe is another significant factor. Older adults are more likely to suffer from anxiety and other neurologic disorders, thereby increasing the demand for buspirone[1].

High R&D Investments

Pharmaceutical companies are investing heavily in research and development to create novel treatment therapies, which is expected to fuel market growth. These investments are aimed at improving the efficacy and safety of buspirone and expanding its therapeutic applications[1].

Mental Health Awareness

The increasing focus on mental health awareness has led to a shift in societal attitudes towards seeking treatment for anxiety disorders. This cultural change is expected to increase the acceptance and use of pharmacological interventions like buspirone[3].

Market Restraints

Despite the growth drivers, there are several restraints that could impact the market:

Side Effects

High prevalence of side effects such as headache, nausea, dizziness, hallucinations, and seizures associated with buspirone is expected to restrain market growth. These side effects can deter patients and healthcare providers from opting for buspirone as a treatment option[1].

Generic Competition

The expiration of patents for branded buspirone products has led to a surge in generic formulations, which can reduce the market share of branded products. However, this also makes buspirone more accessible and affordable, which can be a double-edged sword for market growth[3].

Market Segmentation

The buspirone market is segmented based on several criteria:

By Product

The market is segmented into different dosages such as 5mg, 10mg, 15mg, and 30mg tablets. The 5mg segment accounted for a noticeable share of the global buspirone market in 2023 and is projected to experience significant growth in the near future[4].

By Application

Buspirone is used to treat various conditions including generalized anxiety disorder (GAD), panic disorder, major depressive disorder, and sexual dysfunction. The demand for buspirone in treating GAD is particularly high due to its efficacy and non-sedative properties[2][3].

By End User

The market is bifurcated into clinics, hospitals, and other healthcare facilities. The hospital segment is expected to expand at a significant CAGR, retaining its position throughout the forecast period[4].

Regional Analysis

The buspirone market is analyzed across various regions:

North America

North America remains the largest market for buspirone, driven by a well-established healthcare infrastructure and high rates of mental health service utilization[3].

Asia-Pacific

The Asia-Pacific region is emerging as a promising market due to increasing healthcare expenditure and a growing focus on mental health initiatives. Countries like India and China are prioritizing mental health policies, which could significantly enhance the accessibility and acceptance of buspirone[3].

Latin America

Latin America presents a unique landscape where cultural perceptions of mental health influence the adoption of treatments like buspirone. Countries like Brazil and Mexico are gradually recognizing the importance of addressing mental health issues, leading to increased demand for anxiety medications[3].

Financial Trajectory

The financial trajectory of the buspirone market is promising:

Market Size and Growth Rate

The global buspirone market is expected to witness high growth during the forecast period from 2024 to 2031. The market size is anticipated to increase significantly, with a compound annual growth rate (CAGR) of around 5-7%[3][4].

Revenue Forecast

The revenue forecast indicates a substantial increase in market value from 2023 to 2031. The market size in 2023 was estimated to be in the millions of USD, and it is projected to reach a higher value by 2031[2][4].

Key Players and Competitive Landscape

The market is dominated by key players such as Bristol-Myers Squibb, Mylan N.V., Teva Pharmaceutical Industries Ltd., Apotex Inc., and Accord Healthcare. These companies are focusing on organic and inorganic growth strategies, including product launches, acquisitions, and partnerships to expand their business and customer base[1][2].

Future Outlook

The future outlook for the buspirone market is positive, driven by several factors:

Integration of Digital Health Technologies

The integration of digital health technologies, such as telehealth platforms and mobile health applications, is expected to enhance patient engagement and treatment adherence. This trend is likely to increase the prescriptions and use of buspirone[3].

Emerging Markets

Emerging markets, particularly in the Asia-Pacific and Latin America regions, are expected to contribute significantly to the growth of the buspirone market. Improving healthcare infrastructures and increasing mental health awareness in these regions will drive the demand for buspirone[3].

Key Takeaways

• The buspirone market is driven by the increasing prevalence of anxiety disorders and the growing geriatric population.
• High R&D investments and mental health awareness are key growth drivers.
• Side effects and generic competition are significant restraints.
• The market is segmented by product, application, and end user.
• North America is the largest market, but the Asia-Pacific region is emerging as a significant player.
• The market is expected to grow at a CAGR of around 5-7% from 2024 to 2031.

FAQs

Q: What are the primary therapeutic applications of buspirone?

• Buspirone is primarily used to treat generalized anxiety disorder (GAD), but it is also used for panic disorder, major depressive disorder, and sexual dysfunction.

Q: What are the major side effects associated with buspirone?

• Common side effects include headache, nausea, dizziness, hallucinations, and seizures.

Q: How is the buspirone market segmented?

• The market is segmented by product (dosage), application (therapeutic use), and end user (clinics, hospitals, etc.).

Q: Which region is the largest market for buspirone?

• North America is currently the largest market for buspirone due to its well-established healthcare infrastructure.

Q: What is the expected CAGR for the buspirone market from 2024 to 2031?

• The market is expected to grow at a CAGR of around 5-7% during the forecast period.

Sources

1. The Insight Partners - Buspirone Market Updates by 2031
2. Market Research Intellect - Global Buspirone Sales Market Report
3. PW Consulting - Buspirone Hydrochloride Market
4. Cognitive Market Research - Global Buspirone Market Report 2024 Edition
5. Medical News Today - Buspirone Cost 2024: Coupons and More