GLOBAL PANIC ATTACK TREATMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

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. Panic attack treatment involves the use of pharmacological and non-pharmacological therapies to manage and reduce the frequency and severity of panic attacks. Panic attacks are episodes of sudden and intense fear, apprehension, and anxiety accompanied by physical symptoms like shortness of breath, palpitations, chest pain, and others. The treatment aims to control the symptoms and prevent recurrent attacks that can severely impair normal functioning.

The key advantages of timely and effective panic attack treatment include preventing agoraphobia, improving quality of life, reducing hospital visits and healthcare costs, and lowering risk of suicide. The market growth is driven by rising burden of anxiety and panic disorders, strong pipeline of novel drugs, and increasing awareness about mental health.

Global panic attack treatment market is segmented into drug class, route of administration, distribution channel, and region. By drug class, the selective serotonin reuptake inhibitors (SSRIs) segment accounts for the largest share owing to their efficacy, safety, and favorable side effect profile. SSRIs are usually the first line of treatment for panic disorders.

Global Panic Attack Treatment Market- Regional Insights

• North America is expected to be the largest market for panic attack treatment during the forecast period, accounting for over 35.0% of the market share in 2023. The growth of the market in North America is attributed to higher diagnosis rates, developed healthcare infrastructure, presence of key players, and favorable reimbursements in the region.
• Europe is expected to be the second-largest market for panic attack treatment, accounting for over 22.7% of the market share in 2023. The growth of the market is attributed to rising prevalence of anxiety disorders and government initiatives to increase mental health awareness in the region.
• Asia Pacific is expected to be the fastest-growing market for panic attack treatment, with a CAGR of over 29.2% during the forecast period. The growth of the market in Asia Pacific is attributed to the large patient pool, improving healthcare expenditure, and increasing penetration of leading players in the region.

Figure 1. Global Panic Attack Treatment Market Share (%), By Region, 2023

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Global Panic Attack Treatment Market- Drivers

• Increasing prevalence of anxiety and panic disorders: Rising prevalence of anxiety and panic disorders such as generalized anxiety disorder, panic disorder, social anxiety disorder, and others is a major factor driving the global panic attack treatment market. The anxiety disorders affect over 284 million people globally, and are often comorbid with depressive disorders. Increasing social isolation, work stress, and economic uncertainties have escalated anxiety levels worldwide. This has expanded the patient pool requiring pharmacological and counseling interventions to manage debilitating symptoms of anxiety disorders. The need for timely diagnosis and evidence-based treatment for managing panic and reducing recurrence is expected to boost market growth during the forecast period.
• Growing awareness and reduction in stigma associated with mental health: Growing awareness regarding mental health issues and efforts to reduce the stigma associated with disorders like anxiety, depression has encouraged more patients to seek medical assistance. Campaigns to promote mental health education and outreach programs by public and private institutions have helped to increase screening rates, and enabled access to appropriate psychotherapy and medications. Patient advocacy groups are also working closely to make treatment more affordable and accessible. Such initiatives create an environment supportive of mental health, and this is anticipated to drive market growth.
• Strong pipeline and launch of innovative therapies: The launch of newer more efficacious pharmacotherapies with better safety profiles continues to provide momentum to market growth. The approvals of novel antidepressants like Zulresso, patisiran, vilazodone, vortioxetine have expanded the drug armamentarium for panic disorders. Strong research pipelines of major players like J&J, Pfizer, and Novartis focused on developing fast-acting antianxiety drugs and testing various combinatorial approaches will further improve patient outcomes in the future. Advancements in biologics, complementary medicines, and neuromodulation devices also offer newer modalities for managing treatment-refractory cases.
• Rising healthcare expenditure and favorable policies: The gradual increase in healthcare spending on mental health services especially in developing economies coupled with favorable government policies is facilitating market growth. The adoption of mental health parity laws in countries like the U.S. has improved insurance coverage for mental illnesses. Initiatives to integrate mental health services with primary care, increased funding and resources allocation for community-based care are also mitigating the cost burden and enabling access to psychotherapy and counseling services.

Global Panic Attack Treatment Market- Opportunities

• Large underserved patient pool in emerging markets: The emerging markets represent significant untapped opportunities for player penetration owing to the vast untreated or undiagnosed patient population suffering from anxiety issues. However, the improving healthcare infrastructure, rising spending power and reforms to expand insurance are expected to increase affordability and access to newer therapeutics in these untapped markets. Companies are expected to gain larger revenues by tapping underserved regions.
• Growing use of telemedicine and e-therapies: The emerging delivery models of care such as telepsychiatry and online/mobile-based cognitive behavioral therapy (CBT) solutions present lucrative opportunities to reach a wider consumer base. Telemedicine platforms and apps are enabling access to on-demand counseling, therapy sessions and medications prescription while reducing geographical barriers. Digital CBT interventions help to overcome cost and accessibility limitations of in-person therapy. The growing evidence of comparable outcomes is anticipated to fuel the mainstream adoption of evidence-based online mental health tools.
• Emergence of novel targets and AI-based drug discovery: The expanding understanding of the neurobiological basis of anxiety disorders has uncovered newer druggable targets beyond monoamines, such as neuropeptides, endocannabinoids, cytokines, and others.Companies are increasingly leveraging artificial intelligence and machine learning to significantly quicken up and improve drug discovery. AI tools can quickly screen millions of compound combinations to design molecules with desired pharmacological profiles. The emergence of personalized medicine and pharmacogenomics also allows tailoring treatment based on individual genetic makeup, resulting in improved outcomes.
• Increasing mergers, acquisitions and collaborations: The market is witnessing a growing number of licensing agreements, mergers and acquisitions as pharmaceutical giants l are expanding product pipelines and major players seek mutual growth by pooling resources and expertise. Smaller biotech firms are collaborating with industry leaders to accelerate development of promising early-stage assets for anxiety disorders. Such consolidations and strategic partnerships are presenting remunerative opportunities for stakeholders to achieve synergistic advantages.

Global Panic Attack Treatment Market- Trends

• Increasing adoption of mindfulness meditation and yoga: Growing research highlighting the benefits of mindfulness-based meditation and yoga in reducing anxiety symptoms is boosting its adoption in clinical settings. Meditation techniques help patients by increasing  awareness about thoughts, physical sensations and environment while yoga lowers cortisol, heart rate and blood pressure. Companies are increasingly recommending yoga therapy and mindfulness training as adjunct to pharmacotherapy to lower drug dosages. Their non-invasive approach and ability to improve stress resilience make these approaches viable options.
• Use of ketamine and psychedelics in treatment-resistant cases: Ketamine, a dissociative anesthetic, is being increasingly explored for its rapid antidepressant effects in those unresponsive to conventional treatment. Studies indicate it can reset neural circuits dysregulated in mood disorders. Similarly, psychedelics like psilocybin and MDMA are also being clinically tested for anxiety disorders, especially in cases resistant to existing interventions. These expanding therapeutic applications are expected to provide new assistance to patients poorly controlled with first-line medications.
• Growth in generics and OTC segments: The market has witnessed significant growth of generics drugs, owing to patent expiration of several blockbuster drugs. The greater affordability of generic versions is increasing penetration in price sensitive markets. Companies are also introducing OTC anti-anxiety supplements and herbal formulations to tap into consumer demand for non-prescription alternatives. The expected approval of other key drugs like Lybalvi, Apomine, and biosimilars of Lexapro, Cymbalta, and Effexor XR allow wider access to cost-effective pharmacological interventions.
• Direct-to-consumer advertising and digital marketing: Pharmaceutical companies are extensively utilizing direct-to-consumer advertising and targeted promotional campaigns on digital media platforms for greater consumer outreach. Digital ads offer geo-targeting and personalized messaging to specific demographics. Companies are seeking to reduce stigma by portraying mental illnesses as common disorders. Consumer self-diagnosis and empowerment are expected to expand the patient pool. Social media is also being leveraged to spread awareness through influencer marketing. Such initiatives promise lucrative opportunities for player growth.

Global Panic Attack Treatment Market- Restraints

• Side effects and safety issues with medications: The potential adverse effects associated with first line pharmacotherapy such as sexual dysfunction, suicidal ideation, increased anxiety, withdrawal effects, and dependency pose a major restraint to market growth. Safety issues with benzodiazepines and certain antipsychotics often discourage long term use and adherence. The perceived stigma and concerns around experiencing emotional flatness with SSRIs also limits willingness among some patients to seek pharmacological treatment. This has created need for treatments with better safety and tolerability.
• Availability of low-cost alternatives: The market is challenged by the easy availability of various substitute treatments and self-help approaches which compete with standard of care therapies. Mass market approach of yoga, meditation, hypnosis, music therapy, and others though less-evidence based provide low-cost alternatives attractive to certain patient groups. OTC supplements, stress relievers and herbal products promoted as natural anxiolytics also hamper prescription volumes of branded drugs. However, concerns around their efficacy and safety exist.
• Diagnostic challenges and treatment gaps: The multifaceted presentations and comorbidities associated with anxiety disorders make accurate diagnosis difficult, leading to treatment delays. Primary care providers often lack specialized training to manage complex mental illnesses. Lack of patient awareness, non-adherence to prescribed treatment plans also impact growth adversely. However, these gaps represent areas of further opportunity.

Figure 2. Global Panic Attack Treatment Market Share (%), By Drug Class, 2023

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Global Panic Attack Treatment Market- Recent Developments

• On April 26, 2023, Sunovion Pharmaceuticals Inc., a pharmaceutical company, and Otsuka Pharmaceutical Development & Commercialization, Inc. (Otsuka), a global healthcare company, announced that the first patient has been enrolled in a Phase 2/3 clinical study evaluating ulotaront, a trace amine-associated receptor 1 (TAAR1) agonist with 5-HT1A agonist activity, for the treatment of generalized anxiety disorder (GAD)
• On February 14, 2023, PureTech Health plc., a clinical-stage biotherapeutics company dedicated to changing the treatment paradigm for devastating diseases, announced that it will advance LYT-300 (oral allopregnanolone) for the potential treatment of anxiety disorders and postpartum depression (PPD)
• On November 30, 2022, ANANDA Scientific Inc., a research focused bio-pharmaceutical company, announced that it had received approval from the U.S. Food and Drug Administration (FDA) of the IND application for a clinical trial evaluating Nantheia A1002N5S, an investigational drug using cannabidiol (CBD) in ANANDA’s proprietary Liquid Structure delivery technology as a potential treatment for Social Anxiety Disorder
• On December 16, 2022, AbbVie, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved VRAYLAR (cariprazine) as an adjunctive therapy to antidepressants for the treatment of major depressive disorder (MDD) in adults

Top companies in Global Panic Attack Treatment Market:

• GlaxoSmithKline plc.
• 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.
• Lundbeck A/S

Definition: Global panic attack treatment market refers to the global market for various therapeutic and treatment approaches used for managing panic attacks and panic disorders. Panic attacks are sudden and repeated episodes of intense fear and anxiety accompanied by physical symptoms such as chest pain, heart palpitations, shortness of breath, dizziness, abdominal distress, feelings of unreality, and fear of losing control or dying. Panic disorders are characterized by recurrent, unexpected panic attacks that lead to worry about future attacks or behavioral changes. The global market comprises pharmacological treatments like antidepressants and anti-anxiety medications as well as non-pharmacological therapies including cognitive behavioral therapy and relaxation techniques used for treating panic attacks and reducing their frequency and severity. The market aims to provide safe and effective therapeutic options to the large patient pool suffering from panic and anxiety issues across the globe.