Press release
Obsessive-Compulsive Disorder Market Poised to Garner Maximum Revenues by 2024
The treatment involves psychotherapy as well as medication. Cognitive behavior therapy (CBT) is a specific type of psychotherapy that has been useful in treating people with OCD. Cognitive behavior therapy (CBT) teaches a person multiple ways of thinking, reacting and handling a particular situation. Most commonly used medications for treating OCD include antidepressants and anti-anxiety medications. A child suffering from PANDAS (Pediatric Autoimmune Neuropsychiatric Disorders Associated with Streptococcal infections) is prescribed antibiotics for treating strep infections and SSRI medicines (citalopram, escitalopram, fluoxetine, sertraline and paroxetine).
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Global Obsessive Compulsive Disorder Market: Trends
The Market For Obsessive-Compulsive Disorder (OCD) is expected to grow globally under the influence of high prevalence of OCD and life style changes causing changes in thinking processes. According to International OCD Foundation, approximately 2-3 million adults are living with OCD in the United States. The International OCD Foundation also states that nearly 500,000 American children have OCD. A large number of cases of OCD go unreported as many people are not aware that there is any such specific disease. Also, many people hide their illness in order to avoid embarrassment.
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Global Obsessive Compulsive Disorder Market: Regional Outlook
Geographically, the market for obsessive-compulsive disorder (OCD) has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America was the largest regional market in 2013, followed by Europe, Asia-Pacific and Rest of the World (RoW). One of the major factors responsible for North America’s leading position in this particular market is well established health coverage in the region and high level of awareness regarding the illness. In Asia-Pacific and Rest of the World (RoW) regions, the market is expected to grow in coming future owing rise in prevalence of people with OCD and increasing wareness regarding the disease. Japan, China, India, Australia and New Zealand are the most potential markets in the Asia-Pacific region.
Global Obsessive Compulsive Disorder Market: Key Players
Some major companies and research institutions that are extensively engaged in the development, manufacturing and marketing of OCD drugs include Abbott Laboratories, Pfizer Ltd., Merck & Co., Sanofi, Novartis AG, University of South Florida, Ortho-McNeil Janssen Scientific Affairs, LLC and Indiana University.
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