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Panic Disorders Market Analysis, Growth Demand, Size And Forecast 2033
Panic Disorders Market Analysis
Panic Disorders Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $13.07 billion In 2028 At A CAGR Of 5.1% :
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.
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 Driver - Rising Number Of Psychiatric Patients Expected To Drive Panic Disorder Market Growth
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.
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Prominent Trend - Pharmaceutical Companies Focus On Extended-Release Capsules For Panic Disorder Treatment Advancements
Major companies operating in the panic disorder market are focusing on developing advanced medicines, such as extended-release capsules, to sustain their position in the market. Extended-release capsules are medications that release the active ingredient slowly over a while, typically 12 or 24 hours, to treat conditions requiring medication to be taken over a long period. For instance, in May 2023, Granules India Ltd., an India-based pharmaceutical company, received abbreviated new drug application (ANDA) approval from the US Food & Drug Administration (USFDA) for Venlafaxine hydrochloride extended-release capsules. It demonstrates bioequivalence with the reference-listed drug product (RLD), Effexor XR Extended-Release Capsules, manufactured by Upjohn US 2 LLC. Venlafaxine HCl extended-release capsules are prescribed for the management of conditions including generalized anxiety disorder (GAD), major depressive disorder (MDD), panic disorder (PD), and social anxiety disorder (SAD). They work by increasing the levels of serotonin and norepinephrine in the brain, and the dosage is usually started at 75 mg per day and may be increased by the doctor as needed.
Panic Disorders Market Players
Major companies operating in the panic disorders market report are 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.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the panic disorders market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the panic disorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Panic Disorders Market Report Structure
3. Panic Disorders Market Trends And Strategies
4. Panic Disorders Market - Macro Economic Scenario
5. Panic Disorders Market Size And Growth
…..
27. Panic Disorders Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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