The Global Panic Attack Treatment Market is estimated to be valued at US$ 2.04 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Panic attack treatment includes different types of medications, psychotherapy, and a combination of both to manage symptoms of panic disorders. Panic disorder causes sudden feelings of terror and anxiety which often leads to panic attacks. Products for treatment include antidepressants such as serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), anti-anxiety medications like benzodiazepines, psychotherapy for behavior therapy and others. Market Dynamics: The increasing prevalence of panic disorders is expected to boost the global panic attack treatment market growth over the forecast period. According to Anxiety and Depression Association of America, around 6 million American adults ages 18 and older suffer from panic disorders in a given year. Secondly, growing research and development activities by key players for advanced medications for effective management of panic disorders is alsoprojected to fuel the market growth. For instance, in April 2022, AstraZeneca announced positive top-line results from ION761 Phase IIb trial evaluating a single-dose of an experimental oral medicine lanicemine for treatment of panic attacks. SWOT Analysis Strength: The global panic attack treatment market has strong growth potential owing to the rising prevalence of mental health disorders worldwide. Several research initiatives are being undertaken to develop new and more effective therapeutic drugs. Furthermore, increasing awareness about psychological disorders has encouraged people to seek proper diagnosis and treatment. Weakness: High cost of therapeutic drugs remains a major constraint for many patients. Lack of healthcare infrastructure and skilled professionals in developing nations poses challenges in effective treatment. Opportunity: Growth in healthcare expenditure across many countries has opened up opportunities for market players. Furthermore, the development of novel drug delivery systems and minimally invasive treatment options will support the industry's expansion. Threats: Stringent regulatory framework for the approval of new drugs can negatively impact the launch of innovative products. Rising competition from generic drug manufacturers poses pricing pressure on established brands. Key Takeaways: The Global Panic Attack Treatment Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing prevalence of psychological disorders globally. According to recent estimates, over 5% of the world population suffers from panic attacks every year. Growing mental health awareness initiatives by private and public organizations are encouraging people to seek appropriate treatment. The North America region currently dominates the panic attack treatment market, with the United States accounting for the major share. This is attributed to the availability of advanced healthcare facilities, high healthcare spending, and presence of key pharmaceutical companies in the region. On the other hand, Asia Pacific is expected emerge as the fastest growing regional market owing to improving healthcare infrastructure and expanding patient pool in developing countries. Key players operating in the panic attack treatment market are GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Bristol-Myers Squibb Company, AstraZeneca, Pfizer Inc., Johnson & Johnson Services, Inc., Bausch Health Companies Inc., H. Lundbeck A/S. Leading manufacturers are focused on developing novel drug formulations and targeting untapped emerging markets through strategic collaborations. Get more insights on this topic: https://www.rapidwebwire.com/panic-attack-treatment-market-demand-trends/
0 Comments
|
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |