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 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Panic attacks are sudden feelings of intense fear or discomfort that come with physical symptoms like chest pain, heart palpitations, dizziness or abdominal distress. Medications and therapies are used to treat panic attacks and prevent future occurrences.
Market Dynamics:
The increasing prevalence of panic disorders worldwide is primarily driving the panic attack treatment market growth. According to the Anxiety and Depression Association of America, over 6 million American adults experience panic disorder. Additionally, growing adoption of newer therapies and combination treatment approaches for personalized care are also propelling the market forward. Monoamine oxidase inhibitors (MAOIs) combined with antidepressants or benzodiazepines have shown synergistic effects in panic disorder patients. Furthermore, the development of novel delivery methods like sublingual formulations of antidepressants enabling rapid symptom relief is expanding treatment options and boosting market revenue over the forecast period.
Market key trends:
The global panic attack treatment market is witnessing high adoption of newer treatment options such as anxiety disorder medications. Moreover, the increasing awareness about panic disorder and availability of various treatment options is driving more patients to seek professional help. Introduction of novel drug therapies and advancements in cognitive behavior therapy techniques are also contributing to the growth of this market.
SWOT Analysis:
Strength: Growing research & development activities leading to new product launches.
Weakness: Underdiagnosed and untreated patient population.
Opportunity: Increasing healthcare expenditure in emerging markets.
Threats: Patent expirations of blockbuster drugs.
Key Takeaways:
The global Panic Attack Treatment Market Share is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period of 2023 – 2030, due to increasing awareness about availability of treatment options.
Regional analysis:
North America currently dominates the global panic attack treatment market due to growing anxiety disorder patient population and rapid adoption of new drug therapies in the region. Moreover, presence of majority global key players in the US fuels the market growth. Asia Pacific is expected to grow at fastest pace owing to rising healthcare spending and growing medical tourism in China and India.
Key players:
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.\
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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