PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392099
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392099
Global Panic Attack Treatment Market is expected to reach US$ 6.34 Bn by 2030, from US$ 2.14 Bn in 2023, exhibiting a CAGR of 16.8% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 2.14 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 16.80% | 2030 Value Projection: | US$ 6.34 Bn |
Panic attacks are intense episodes of sudden fear or distress that can be debilitating for individuals who experience them. These attacks often come without warning, and can cause physical symptoms such as heart palpitations, shortness of breath, and chest pain. Panic attack treatment focuses on relieving symptoms, reducing the frequency of attacks, and improving overall quality of life.
Global panic attack treatment market is expected to witness significant growth in the near future. The global market growth is driven by several factors including the increasing prevalence of panic disorders worldwide. Rising awareness about mental health, coupled with the growing acceptance and understanding of panic attacks, are also contributing to market growth. Advancements in medical technology and therapeutic interventions have led to the development of more effective treatments for panic attacks. For instance, according to the Anxiety and Depression Association of America (ADAA), in 2020, anxiety disorders are the most common mental illness in the U.S. that affects nearly 40 million adults (18.1%) in the U.S. aged 18 years and older, every year. According to the same source, generalized anxiety disorder (GAD) affects 6.8 million adults, or 3.1% of the U.S. population and panic disorder (PD) affects 6 million adults, or 2.7% of the U.S. population, each year.
However, there are certain factors that may restrain the market growth. One of the key challenges in this market is the stigma associated with mental health issues including panic attacks. This stigma often prevents individuals from seeking help and treatment. Moreover, the high cost of panic attack treatments and a lack of reimbursement policies in some regions are also potential barriers to the market growth.
Despite these challenges, several opportunities exist in the market. There is a growing demand for personalized and targeted therapies that can effectively manage panic attacks. Moreover, the integration of virtual reality technology and artificial intelligence in panic attack treatment is expected to open new avenues for market expansion. Increasing investments in research and development activities by key players in the pharmaceutical industry are likely to boost innovation in this market and create growth opportunities.