PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174531
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1174531
Panic Disorder Market size was valued at USD 18,804.3 Million in 2021, expanding at a CAGR of 9.2% from 2022 to 2028.
A panic disorder is characterized by sudden, recurrent symptoms of worry and dread. Anxiety and stress can lead to panic disorders. Everyone strives to be at the top of their game in this fast-paced environment. Even surviving in the market is challenging due to the fierce competition there. Growth and expansion are reduced to a distant fantasy. People thus experience stress, anxiety, and burden. Shortness of breath, sweating, shaking, nausea, heart palpitations, and numbness are all signs of panic disorders. Treatment options for panic disorders include therapy, medication, and psychological approaches. Although not life-threatening, panic episodes can still have a negative impact on one's quality of life.
The market for panic disorders is expanding in terms of value due to a variety of variables. The National Institute of Mental Health (NIMH) reports that as people get older, anxiety disorders become more common. Adults with anxiety disorders account for 22.3% of those between the ages of 18 and 29 and 22.7% of those between the ages of 30 and 44. Anxiety disorders are less common in adults 45 to 59 years old (20.6%). Anxiety affects only 9% of those 60 years and older, making it less prevalent among the elderly. Additionally, 2.7% of persons suffer from panic disorders, including 3.8% of women and 1.6% of males. An increase in panic disorder diagnoses, particularly as a result of rising mental health. According to estimates based on diagnostic interview data from the National Comorbidity Survey Adolescent Supplement (NCS-A), 2.3% of U.S. teenagers (aged 13 to 18) had a severe impairment and 2.3% had panic disorder.
The market is experiencing revenue growth as a result of an increase in pharmaceutical research and development efforts for the symptomatic and targeted treatment of panic disorder. Each type of panic disorder has a unique and specific gene variation that can be identified to develop effective and focused genetic therapy. The general public can be informed about the illness. Scientists and inventors might take advantage of this as an opportunity to develop a potent treatment for panic disorder sufferers to continue market revenue growth.
North America is predicted to account for the greatest revenue share over the projection period due to the introduction of novel treatment options in this region. Furthermore, higher healthcare expenditures, as well as the availability of treatment options, would aid to accelerate revenue growth in the region's industry. Furthermore, increased disease awareness, together with these factors, is likely to fuel revenue growth in the panic disorder market in the region throughout the forecast period. On the other hand, with the high population growth in nations like China and India, the region of Asia Pacific is anticipated to experience significant revenue CAGR over the projection period. Furthermore, the presence of generic manufacturers and the expansion of healthcare facilities in the region are anticipated to fuel market revenue growth over the projection period.
In March 2019, The Food and Drug Administration (U.S. FDA) approved Spravato (esketamine) nasal spray. This new introduction is indicated for the treatment of depression in patients who have tried other antidepressants but found them ineffective when combined with an oral antidepressant (treatment-resistant depression).
In April 2019, McMaster University and Purdue Pharma Canada collaborated to conduct a Phase IV clinical trial on Methylphenidate Hydrochloride Controlled Release Capsules in adults with and without anxiety disorders.
The scope of this report covers the market by its major segments, which include as follows: