The global Panic Attack Treatment Market is estimated to be valued at US$ 2.04 Bn or billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Panic attacks are sudden and recurrent episodes of intense fear that trigger physical symptoms like pounding heart, sweating, trembling etc. The physical symptoms manifest during or shortly after the panic attack and may lead the person to seek emergency medical care due to fear of life-threatening illness like heart attack. Common treatment options for panic attacks include cognitive behavioral therapy (CBT) and medications like antidepressants and anti-anxiety drugs. CBT helps patients understand the triggers and reframe unrealistic fears, while medications help balance brain chemicals that play a role in fear and anxiety. As panic attacks affect day-to-day activities and quality of life, effective treatment can help reduce frequency of attacks and reliance on medications over time.
Market key trends:
The global panic attack treatment market is expected to witness high growth due to increasing prevalence of mental health disorders like panic disorder. As per WHO estimates, over 264 million people suffer from anxiety disorders globally. Also, higher number of patients responding positively to initial drug therapies is compelling pharma companies to invest more in developing novel medications. Emerging focus on digital therapeutics is another key trend, with mobile health apps leveraging CBT principles and virtual therapy tools proving effective for remote monitoring and outpatient care. Integration of these apps with wearable devices that facilitate biofeedback for panic symptoms will further optimize treatment outcomes. Lastly, initiatives by mental health organizations to raise awareness, reduce stigma and increase accessibility of services will aid wider adoption of treatments in the coming years. Focus on preventive care and support groups can further help manage the burden of disease.
Porter’s Analysis
Threat of new entrants: Low as heavy investments are required for R&D, clinical trials, marketing etc. Also established players enjoy advantages of economies of scale.
Bargaining power of buyers: Moderate as several treatment options are available. However patented drugs enjoy pricing power.
Bargaining power of suppliers: High as raw material suppliers dominate the market. Suppliers can leverage their position and influence pricing.
Threat of new substitutes: Moderate threat from alternative treatment methods like yoga, meditation etc. However drugs remain first line of treatment.
Competitive rivalry: High competition owing to presence of many global and local players. Companies focus on new product launches and portfolio expansion to gain market share.
Key Takeaways
The Global Panic Attack Treatment Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing prevalence of anxiety disorders. North America dominates the market currently owing to high awareness levels and accessibility of advanced treatments.
Regionally, North America is expected to account for the largest market share due to increasing prevalence of anxiety disorders and supportive reimbursement policies for drug treatment. However, Asia Pacific is likely to witness the fastest growth due to rising economic prosperity, healthcare reforms and escalating awareness.
Key players operating in the Panic Attack Treatment are GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Bristol-Myers Squibb Company, AstraZeneca, Pfizer Inc., Johnson & Johnson Services, Inc., Bausch Health Companies Inc., H. Lundbeck A/S. Companies mainly focus on developing novel drug delivery formulations and expanding their portfolio through collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
