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Generalized Anxiety Disorder Market Analysis, Industry Size, Share, Growth, Trends And Forecast To 2033
Generalized Anxiety Disorder Market Analysis
As per the report, the generalized anxiety disorder market size has grown steadily in recent years. It will grow from $7.51 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The generalized anxiety disorder market size is expected to see steady growth in the next few years. It will grow to $8.89 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%.
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Rising Mental Disorder Cases Drive Expansion Of The Generalized Anxiety Disorder Market
The rising number of mental disorder cases in the healthcare industry is driving the growth of the generalized anxiety disorder market. A mental disorder, also known as a mental illness, refers to a wide range of conditions that affect a person's thoughts, emotions, behaviors and overall mental well-being. Mental health disorders that commonly occur with generalized anxiety disorder include phobias, panic disorder, post-traumatic stress disorder (PTSD) and obsessive-compulsive disorder (OCD) and managing these conditions is crucial for individuals to maintain healthy relationships and improve their quality of life. For instance, in April 2023, Forbes Media LLC, a US-based media company, reported that in 2020, 21% of U.S. adults (52.9 million) reported mental illness. Furthermore, in March 2023, according to the National Alliance on Mental Illness, a US-based non-profit organization, 22.8% (57.8 million people) of U.S. adults experienced mental illness in 2021, which increased from previous years. Therefore, the rising number of mental disorder cases is expected to propel the growth of the generalized anxiety disorder market.
Innovative Drug Development Revolutionizes Generalized Anxiety Disorder Treatment
Major companies operating in the generalized anxiety disorder market are developing innovative drugs such as MM-120 and getting approval for the treatment of generalized anxiety disorder to better meet the needs of their existing consumers. Innovative drugs such as MM-120 aim to improve the management and outcomes of this mental health condition. For instance, in January 2022, Mind Medicine Inc., a US-based psychedelic medicine biotech company, received approval for an Investigational New Drug (IND) application from the U.S. Food and Drug Administration (FDA), allowing the company's phase IIb dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder (GAD) to proceed. MM-120 is a small molecule that acts as a partial agonist of the 5-HT2A receptor. This receptor is involved in the regulation of mood, anxiety and perception. Moreover, MM-120 is thought to work by increasing serotonin levels in the brain and this could pave the way for other psychedelic compounds to be developed to treat mental health disorders.
The generalized anxiety disorder market covered in this report is segmented -
1) By Type: Panic Disorder; Agoraphobia; Generalized Anxiety; Social Anxiety; Specific Phobia; Other Types
2) By Therapies: Interpersonal Therapy; Behavior Therapy; Cognitive Behavioral Therapy; Mindfulness Based Cognitive Therapy
3) By Device: Deep Brain Stimulation; Electroconvulsive Therapy; Transcranial Magnetic Stimulation; Vagus Nerve Stimulation
4) By End-User: Hospitals; Homecare; Specialty Clinics; Other End-Users
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Major players in the generalized anxiety disorder market are Alkermes PLC, Pfizer Inc., F. Hoffmann-La Roche AG, Sanofi SA, Bristol-Myers Squibb, GlaxoSmithKline PLC, AstraZeneca PLC, Abbott Laboratories, 3M Company, Boehringer Ingelheim International GmbH, Johnson And Johnson Private Limited, Adobe Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Otsuka Holdings Co. Ltd., Mylan N.V., Sumitomo Pharma Co. Ltd., Jazz Pharmaceuticals PLC, Forest Laboratories Inc., H. Lundbeck A/S, Shionogi and Company, Neurocrine Biosciences Inc., Actavis Pharmaceutical Company, Eli Lilly and Company, Noven Pharmaceuticals Inc., Mind Medicine Inc., Sage Therapeutics Inc., Bionomics Ltd., Recordati Rare Diseases SARL, VistaGen Therapeutics Inc.
Contents of the report:
1. Executive Summary
2. Generalized Anxiety Disorder Market Report Structure
3. Generalized Anxiety Disorder Market Trends And Strategies
4. Generalized Anxiety Disorder Market - Macro Economic Scenario
5. Generalized Anxiety Disorder Market Size And Growth
…..
27. Generalized Anxiety Disorder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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