2024-2033 Panic Disorders Market Forecast: Predicted Growth Rate and Market Size
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What is the Expected Growth Rate of the Panic Disorders Market from 2024 to 2033?
The panic disorders market, forecasted to grow from $10.19 billion in 2023 to $10.73 billion in 2024 at a CAGR of 5.3%, is fueled by increased awareness of mental health, access to services, and advancements in diagnostic criteria.
The panic disorders market is projected to grow to $13.07 billion by 2028, at a CAGR of 5.1%. The forecasted growth is attributed to the emergence of new pharmacological treatments, telepsychiatry services, a focus on comorbidities, global mental health initiatives, and the application of pharmacogenomics in treatment. Major trends include digital mental health interventions, telemedicine for treatment, medication innovations, neurobiological research, and remote monitoring through wearable technology.
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What Key Factors Are Fueling the Growth of the Panic Disorders Market?
The rise in the number of psychiatric patients is expected to drive the growth of the panic disorder market. The increasing prevalence of psychiatric disorders, including panic disorder, is creating a demand for treatments that alleviate panic attacks. According to Mental Health America, the number of adults with mental illnesses in the US increased to 49.6 million in 2022, representing 19.86% of the population. This rise in psychiatric patients supports the growth of the panic disorder market.
What Are the Major Segments of the Panic Disorders Market?
1) By Type: Agoraphobia, Social Anxiety Disorder (SAD), Obsessive-Compulsive Disorder (OCD), Bipolar Disorder, Post-Traumatic Stress Disorder (PTSD), Major Depressive Disorder
2) By Treatment: Medication, Beta Blockers, Serotonin And Norepinephrine Reuptake Inhibitors (SNRIs), Benzodiazepines, Anti-Epilepsy, Other Treatments
3) By Route Of Administration: Oral, Parenteral, Other Routes Of Administrations
4) By End Use: Hospital Pharmacies, Retailer Pharmacies, Online Pharmacy Stores
What New Trends Are Transforming the Panic Disorders Market?
Companies in the panic disorder market are developing extended-release capsules like Venlafaxine hydrochloride to improve treatment options. In May 2023, Granules India Ltd. received USFDA approval for Venlafaxine HCl extended-release capsules, which treat conditions like generalized anxiety disorder, major depressive disorder, and panic disorder by increasing serotonin and norepinephrine levels in the brain.
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Which Regions Are Driving Growth in the Panic Disorders Market?
North America was the largest region in the panic disorders market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the panic disorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Panic Disorders Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the panic disorders market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Panic Disorders Market Include
1. Panic Disorders Market Executive Summary
2. Panic Disorders Market Segments
3. Panic Disorders Market Size And Template Market Growth Rate
4. Key Panic Disorders Market Trends
5. Major Panic Disorders Market Drivers
……
25. Key Mergers And Acquisitions In The Panic Disorders Market
26. Top Panic Disorders Companies
27. Panic Disorders Market Opportunities And Strategies
28. Panic Disorders Market, Conclusions And Recommendations
29. Appendix
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