Global Panic Attack Treatment Market is Anticipated to Witness High Growth Owing to Increasing Prevalence of Panic Disorder
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Panic Attack Treatment Market |
The
global panic attack treatment market consists of various medications and
therapies used for treating panic disorder. Panic attacks are episodic spikes
in anxiety that can occur without an apparent trigger. They are characterized
by physical symptoms like palpitations, sweating, trembling, shortness of
breath, feelings of choking, chest pain, nausea and dizziness. Panic disorder
involves recurring unexpected panic attacks along with major behavioral change
due to the attacks. The rising prevalence of panic disorder and increasing
awareness about available treatment options for panic attacks are majorly
driving the demand for panic attack treatment products.
The Global panic attack treatment market is estimated to be valued at US$ 2.36
Mn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period
2024 to 2030. Key players operating in the panic attack treatment market are
Widex A/S, GN Hearing A/S, Starkey Hearing Technologies, Sivantos Group (now WS
Audiology), and Cochlear Limited.
Key Takeaways
Key players: Key players operating in the Global
Panic Attack Treatment Market Demand are focusing on introducing novel
medications and combination therapies for better management of panic attacks.
For instance, Widex A/S offers a range of hearing aids and instruments like
StressReliefSound and StressTherapy for treating anxiety and stress-related
disorders.
Key opportunities: Increasing adoption of digital health technologies and
growing awareness about psychological therapies present significant
opportunities in the panic attack treatment market. Biofeedback apps and
virtual therapy platforms are gaining popularity for remotely managing mild to
moderate panic attacks.
Global Expansion: Leading market players are expanding their global footprint
through new product launches and strategic partnerships. For example, in 2021,
Cochlear Limited launched the Nucleus 8 Sound Processor in several
international markets to provide improved hearing experiences for patients with
severe-to-profound hearing loss.
Market drivers: Rising geriatric population prone to mental health issues and
growing acceptance of pharmacological treatments for panic disorder are major
drivers of the panic attack treatment market. According to the National
Institute of Mental Health, around 6 million American adults suffer from panic
disorder annually.
Market restraints: High cost of prescription drugs and lack of awareness in
developing nations hamper the market growth. Adverse effects associated with
long-term use of antidepressants also limit their adoption. Furthermore, social
stigma regarding mental illnesses poses a challenge.
Segment
Analysis
The global panic attack treatment market is dominated by drugs segment owing to
high prescription rates of anti-depressants and anti-anxiety medications to
treat panic attacks. Drugs like Selective Serotonin Reuptake Inhibitors (SSRIs)
and Serotonin-norepinephrine reuptake inhibitors (SNRIs) are commonly
prescribed due to their effectiveness and relatively fewer side effects.
Therapy segment holds a small yet significant share majorly encompassing
Cognitive Behavioural Therapy (CBT) which has proven efficacy in reducing panic
attack symptoms without reliance on drugs.
Global Analysis
North America dominates the global panic attack treatment market propelled by
rising awareness, clinical adoption of new therapies and drugs, supportive
reimbursement policies and strong healthcare infrastructure. The region holds
the highest diagnosed patient population treated under medical guidance. Europe
is the second largest regional market fuelled by high healthcare spending and
increasing acceptance of advanced treatment technologies. Asia Pacific is
poised to register the fastest growth over the forecast period on back of
expanding medical tourism industry, rapidly developing healthcare networks and
growing patient awareness in highly populated countries like India and China.
For more insights, Read- Global
Panic Attack Treatment Market
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