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Panic Attack Treatment Market Set To Record Exponential Growth By 2023

01-30-2018 10:51 AM CET | Health & Medicine

Press release from: Transparency Market Research

Panic Attack Treatment Market Set To Record Exponential Growth

Panic attacks are associated with sudden episodes, of emotions of fear and anxiety. It is a type of anxiety disorder, and other anxiety disorder includes generalized anxiety disorder, obsessive-compulsive disorder (OCD), Posttraumatic stress disorder (PTSD), social anxiety disorder, and special phobias.Generally, panic attacks are not life threatening but they can be frightening and significantly affect the quality of life. Symptoms of the panic attack may vary from person to person, and intensity of attack. In general, symptomsincludes sense of danger, intense fear of loss of control or death, hot flashes, chills, chest pain, sweating, and feeling of detachment. Major risk factors for panic attacks are genetics, major stress due to changes in a life, or traumatic event, and certain changes in brain functioning. According to World Health Organization (WHO), females are at higher risk of panic attacks than males. Panic attacks left untreated, further may link to the depression, anxiety disorders, and psychiatric disorder, suicidal thoughts, and substance abuse. Treatment can help to reduce frequency, and intensity of panic attacks to improve the quality of life. Treatment recommended for panic attacks include psychotherapy (talk therapy), and medications. Psychotherapy generally considered as a first choice of the treatment.

Panic Attacktreatment Market segmented intodrug class, and geography. The drug class market segmented into selective serotonin reuptake inhibitor (SSRI), serotonin norepinephrine reuptake inhibitor (SNRI), and benzodiazepines (BZD). Selectiveserotonin reuptake inhibitor class further segmented into fluoxetine (Prozac), paroxetine (Paxil, Pexeva) and sertraline (Zoloft). Further, serotonin norepinephrine reuptake inhibitor includevenlafaxine hydrochloride (Effexor XR). Benzodiazepines includealprazolam (Niravam, Xanax), chlordiazepoxide (Librium), diazepam (Valium) and lorazepam.

However, benzodiazepines can be habit forming hence, generally used for short term basis and consider as a last choice of treatment.SSRI and SNRI are consider as a first line therapy for panic attacks patient hence, hold the largest market share globally. Geographically, panic attack treatment market segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and Rest of the World (RoW). North America dominates the global panic attack market due to increasing incidence of panic attacks, and more awareness in people related to anxiety disordersand expected to maintain the position during forecast period. However, Asia Pacific market, expected to grow at a faster rate due to changing lifestyle led to increasing stress, and growing facilities to detect anxiety disorders.

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Some of the major driving factors driving the panic attack treatment market are increasing incidence rate due to more stressful life, sedentary lifestyle, and presence of strong pipeline. According to the Anxiety and Depression Association of America, anxiety disorders are the most common illness in the U.S. and affecting 18% of population. Additionally, 2.7% of population of all anxiety disorders affected by panic attacks, which is approximately 6 million in the U.S. In the National Comorbidity Survey carried out in 2005, 58% of patients diagnosed with major depression found to have an anxiety disorders; among these patients, the rate of comorbidity with panic disorder was highest. However, poor diagnosis rate as no single diagnosis test is available to detect anxiety disorders, and side effects of medications such as habit forming nature, dry mouth, and nauseacould restraint the market growth. Focusing on emerging countrieswould create an opportunity for a market players.

Some of the key players of the global panic attack treatment market are Abbott Laboratories, Actavis Pharmaceutical Company, Baxter International, Bristol-Myers Squibb, Eli Lilly and Company,F. Hoffmann-La Roche, GlaxoSmithKlinePharmaceuticals Limited, Noven Pharmaceuticals, Inc., Pfizer,Inc., Recordati Rare Diseases, Shionogi and Company, and Sumitomo Dainippon Pharma.

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