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Global Panic Disorders Market Outlook - Market Size, Trends, Growth And Industry Insights 2024-2033
Panic Disorders Market
The Business Research Company presents an extensive market research report on the Panic Disorders Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The panic disorders market size has grown strongly in recent years. It will grow from $10.19 billion in 2023 to $10.73 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to antidepressant medications, increased mental health awareness, increased stress levels, access to mental health services, advancements in diagnostic criteria.
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The panic disorders market size is expected to see strong growth in the next few years. It will grow to $13.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to emerging pharmacological treatments, telepsychiatry services, focus on comorbidities, global mental health initiatives, pharmacogenomics in treatment, public education programs.. Major trends in the forecast period include digital mental health interventions, telemedicine for panic disorder treatment, innovations in medications, neurobiological research, remote monitoring and wearable technology..
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Key Market Players:
F. Hoffmann-La Roche Ltd, Sanofi S.A, Bristol-Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Eli Lilly and Company, Boehringer Ingelheim International GmbH., Baxter Inc, Teva Pharmaceutical Industries Ltd, Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Ltd, Bausch Health Companies Inc., H. Lundbeck A/S, Shionogi & Co Ltd., Recordati S.p.A, Neurocrine Biosciences Inc, Neuraxpharm, Actavis Plc., Noven Pharmaceuticals Inc., Sumitomo Pharma Co. Ltd, VistaGen Therapeutics, Valeant Pharmaceuticals International Inc., LIFECARE NEURO PRODUCTS LTD. are prominent players in the industry.
Market Drivers:
An increase in the number of psychiatric patients is expected to propel the growth of the panic disorder market going forward. Psychiatric patients are individuals afflicted by psychiatric disorders or mental illnesses, which can disrupt cognition, emotions, and social behavior, resulting in panic disorder or panic attacks marked by sudden intensity. Treatment for psychiatric patients with panic disorder typically involves a combination of therapeutic approaches, medication, and lifestyle changes to alleviate the symptoms of panic attacks, improve the patient's overall quality of life, and help them manage and cope with condition effectively. For instance, in October 2022, according to the State of Mental Health in America 2022 report published by Mental Health America, a US-based non-profit organization associated with mental health promotion, the number of psychiatric patients or adults with any mental illnesses increased to 49,564,000, representing 19.86% of the total US population in 2022, compared with 47,132,000, representing 19.00% of the total US population in 2021. Therefore, the increase in the number of psychiatric patients will drive the growth of the panic disorder market.
Market Segments Include:
1) By Type: Agoraphobia, Social Anxiety Disorder (SAD), Obsessive-Compulsive Disorder (OCD), Bipolar Disorder, Post-Traumatic Stress Disorder (PTSD), Major Depressive Disorder
2) By Treatment: Medication, Beta Blockers, Serotonin And Norepinephrine Reuptake Inhibitors (SNRIs), Benzodiazepines, Anti-Epilepsy, Other Treatments
3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administrations
4) By End Use: Hospital Pharmacies, Retailer Pharmacies, Online Pharmacy Stores
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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