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| Global Panic Attack Treatment Market |
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 characterized by sudden episodes of intense fear and
discomfort that develop abruptly and peak within minutes. Common physical
symptoms include pounding or rapid heartbeat, chest pain, stomach upset,
dizziness or shaking, while psychological symptoms include feeling of impending
doom or unreality. Antidepressants and psychotherapy are commonly prescribed
treatment options to manage panic attacks and reduce frequency and severity of
episodes.
Market Dynamics:
The global panic attack treatment market is primarily driven by increasing
prevalence of anxiety disorders globally. According to Anxiety and Depression
Association of America, around 6.8 million American adults experience a panic
attack each year. Moreover, growing awareness about panic attack management
options through social media platforms and increasing adoption of
antidepressants and psychotherapy as first-line treatment options are further
fueling market growth. Furthermore, recent approval and launch of novel
antidepressants specifically indicated for panic disorder treatment by major
pharmaceutical companies is also expected to boost market revenues over the
forecast period. However, social stigma associated with mental health issues
and underdiagnosis of panic attacks in developing regions limits market growth
to some extent.
SWOT Analysis
Strength: The global panic attack treatment market witnesses high prevalence of
panic disorders. Drugs like SSRIs, SNRIs, TCAs etc. are effective in treating
panic attacks and are widely available. Increased awareness about available
treatment options drives the market growth.
Weakness: High cost of branded drugs limits their adoption in developing
nations. Alternative treatment options like psychotherapy are time consuming
and not readily available.
Opportunity: Rising healthcare expenditure in emerging countries creates new
growth opportunities. Novel drug delivery systems and newly approved drugs will
expand the treatment options.
Threats: Safety concerns over long term usage and side effects of drugs hamper
their uptake. Alternative therapeutic options like meditation pose competition.
Stigma associated with mental health issues limits patients from seeking timely
medical intervention.
Key Takeaways
The global Panic
Attack Treatment Market Share is expected to witness high growth,
exhibiting CAGR of 7.3% over the
forecast period, due to increasing prevalence of panic disorders worldwide.
Around 2-3% population suffer from panic disorders annually and require long
term management.
Regional analysis: North America accounts for over 35% market share and remains
dominant due to high healthcare spending and better access to advanced
therapies. Asia Pacific exhibits highest growth on back of rising healthcare
infrastructure, health awareness and large patient pool. Countries like China
and India are emerging as key investment hotspots.
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. GSK, Roche and Teva Pharmaceuticals dominate the market with
their product offering of SSRIs and SNRIs. Novel drugs in pipeline will further
intensify competition.
Read More,
https://www.newsstatix.com/the-global-panic-attack-treatment-market-size-market-share-analysis/
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