Global Anxiety and Panic Disorders Drugs Market: Overview
Anxiety and panic disorders affect millions of people across the globe. Collectively, afflicted people seeking to stem the malaise are known to spend billions of dollars on it. While anxiety is a result of individuals unable to cope up with stress or undue worry sometimes without any perceptible external trigger, a panic disorder is more serious and usually strikes without reason or warning.
Anxiety disorders include social anxiety, generalized anxiety disorder, and panic disorders. Symptoms of panic disorders typically are sudden and extreme bouts of fear and nervousness that often manifest through physical symptoms such as a pounding heart and profuse sweating. Both anxiety attacks and panic attacks can be treated using medication and psychotherapy.
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Global Anxiety and Panic Disorders Drugs Market: Key Trends
The global anxiety and panic disorders drugs market is expected to rise steadily on account of more individuals recognizing the condition and seeking treatments and due to progress in neurogenetics. The emergence and gigantic progress of genetic engineering and the relatively new DNA-editing technologies that have provided better insights into genes related to progression of anxiety disorders has subsequently helped in developing target therapies for cure.
A key trend noticed in the anxiety and panic disorders drugs market is the combination of medication and neuromodulation devices. Neuromodulation is a unique psychiatric treatment, which coupled with traditional therapeutic regimen, brings about a holistic treatment of anxiety and panic disorders. This is expected to lead to swifter uptake of the drugs thereby driving growth in the market in the near future.
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Global Anxiety and Panic Disorders Drugs Market: Market Potential
With more and more people reporting anxiety and panic disorders, scientists, researchers, and organizations are making every effort to come up with innovative methods to treat the conditions. Researchers from Columbia University and the University of Wisconsin-Milwaukee, for example, are redesigning a drug compound first created by UWM’s James Cook to calm anxiety without dangerous side effects. They have already overcome crucial challenges in the process.
Government efforts are also creating opportunities for growth in the market. The Ontario government in the nation of Canada, for instance, announced that it would make prescription medications free for all children and youth under 24 years of age. Medications that will be covered include drugs to treat depression, asthma inhalers, anxiety and attention deficit hyperactivity disorder, antibiotics and oral contraceptives. Once implemented, the rule would likely create opportunities in the anxiety and panic disorders drugs market.
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Currently, the two types of drugs available in the market can be broadly segmented into antidepressant drugs and anxiolytic drugs. Of the two, the antidepressant drugs could gross maximum revenue in the next couple of years on the back of the launch of newer selective serotonin reuptake inhibitor (SSRIs) with safer side effects.
Global Anxiety and Panic Disorders Drugs Market: Regional Outlook
Geographically, the key segments of the global anxiety and panic disorders drugs market are Asia Pacific, Europe, North America, and the Rest of the World. North America, among them, is primed to be a key market due to the alarming increase of anxiety disorders and the subsequent visits to psychiatrists for cure.
Global Anxiety and Panic Disorders Drugs Market: Competitive Analysis
In order to assess the competition prevailing in the global market for anxiety and panic disorders drugs, the report profiles prominent players such as AstraZeneca, Eli Lilly, GlaxoSmithKline, and Pfizer.
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