Panic disorder is a mental and behavioral disorder characterized by recurrent, irrational panic attacks. These attacks involve symptoms such as palpitations, sweating, shaking, shortness of breath, numbness, and a sense of impending doom. Panic attacks reach their peak intensity within minutes. Stress and anxiety are common triggers for panic disorders. In a competitive and fast-paced world, individuals strive to excel, but the prevalence of panic disorders brings ongoing concerns and avoidance of triggering environments.
According to Data Bridge Market Research, the Global Panic Disorders Market accounted USD 9.58 billion in 2022, will reach USD 13.17 billion by 2030, growing at a CAGR of 4.06% during the forecast period of 2023 to 2030.
“Efficient treatment options increase market growth for panic disorders”
The market for panic disorders is poised for significant expansion, primarily due to several key factors. These include the escalating prevalence of anxiety and mental disorders, heightened public awareness surrounding these conditions, and the increased availability of efficient treatment options. The impact of low living standards and sedentary lifestyles further contributes to the occurrence of panic disorders. Moreover, the market is expected to benefit from developed countries' generous reimbursement practices for medicines and treatments, coupled with their high success rates, which collectively foster growth prospects during the forecast period.
What restraints the growth of the global panic disorders market?
“Lack of awareness hinders growth in the market for treating panic disorders”
Insufficient awareness and inadequate medical care, particularly in developing countries, contribute to limited growth prospects in the market for treating panic disorders. The lack of knowledge in these regions hinders accurate diagnosis and effective treatment. Addressing this issue necessitates initiatives to improve awareness and enhance medical care infrastructure, enabling better identification and access to appropriate therapeutic interventions.
Segmentation: Global Panic Disorders Market
The global panic disorders market is segmented on the basis of type, therapy and devices, drug class, distribution channel, administration, treatment, dosage, and end user.
- On the basis of type, the global panic disorders market is segmented into agoraphobia, social anxiety disorder (SAD), obsessive-compulsive disorder (OCD), bipolar disorder, post-traumatic stress disorder (PTSD), specific phobias, generalized anxiety disorder (gad), major depressive disorder (MDD).
- On the basis of therapy and devices, the global panic disorders market is segmented into electroconvulsive therapy ect, cognitive-behavioral therapy (CBT).
- On the basis of drug class, the global panic disorders market is segmented into benzodiazepines (BZD), serotonin-norepinephrine reuptake inhibitor (SNRI), monoamine oxidase inhibitors (MAOIS), anti-depressants, tricyclic antidepressants (TCAS), pregabalin, BUSPIRONE, sertraline.
- On the basis of distribution channel, the global panic disorders market is segmented into pharmacies, drug stores, e-commerce, online, offline.
- On the basis of administration, the global panic disorders market is segmented into oral, parental and others.
- On the basis of treatment, the global panic disorders market is segmented into medication, beta blockers, serotonin and norepinephrine reuptake inhibitors (snris), benzodiazepines, anti-epilepsy, others.
- On the basis of dosage, the global panic disorder market is segmented into tablets, injections, others.
- On the basis of end user, the global panic disorders market is segmented into hospitals, mental healthcare centres, asylums, others.
Regional Insights: North America is dominate the Global Panic Disorders Market
In North America, the U.S. holds a dominant position in the market for panic disorder treatments and is expected to maintain this trend of dominance throughout the forecast period. Factors such as the availability of diverse treatment options and the increasing healthcare costs contribute to the region's rapid revenue growth. Moreover, the market in North America is projected to benefit from heightened awareness of panic disorder and related conditions.
In the Asia-Pacific region, particularly in developing nations, changing lifestyles, westernization, and modernization are driving factors for market growth. With countries like China and India experiencing significant population growth, the region is expected to achieve a substantial revenue compound annual growth rate (CAGR) during the forecast period. Factors such as the presence of generic manufacturers and the expansion of healthcare facilities further contribute to the region's market expansion.
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Recent Developments in Global Panic Disorders Market
- In 2022, a multicenter, randomized, double-blind, and placebo-controlled Phase II trial is underway to study patients with panic disorder. The trial focuses on individuals between the ages of 18 and 60, both male and female, who have been diagnosed with panic disorder. The objective of the study is to compare the safety and efficacy of HB-1, a potential therapeutic option, against a placebo. The enrollment of patients with panic disorder, either alone or in combination with other co-morbidities, is ongoing, aiming to complete the trial by January 2023.
- In 2021, a double-blind, randomized, and placebo-controlled phase II and phase III trial investigated the effectiveness of Xenon Inhalation as a treatment for patients with panic disorder. The findings from this study revealed that Xenon shows promise as a therapeutic option for panic disorder. It demonstrated significant anti-panic effects, and notably, these effects were observed to persist for at least six months following the active phase of therapy.
The Prominent Key Players Operating in the Global Panic Disorders Market Include:
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sun Pharmaceutical Industries Ltd. (India)
- Mylan N.V. (U.S.)
- AstraZeneca (U.K.)
- Abbott. (U.S.)
- Baxter. (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Eli Lilly and Company. (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- GlaxoSmithKline plc (U.K.)
- Noven Pharmaceuticals, Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Recordati S.p.A. (Italy)
- Shionogi & Co., Ltd. (Japan)
- Sumitomo Pharma Co., Ltd (Japan)
- Boehringer Ingelheim International GmbH. (Germany)
- Bausch Health Companies Inc. (Canada)
- H. Lundbeck A/S (Denmark)
- Sanofi (France)
- Neurocrine Biosciences, Inc (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global panic disorders market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Panic Disorders Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
