Key Market Overview:
Panic Disorder Market, with a valuation of USD 9,040.00 Million in 2022, is poised for steady growth with a CAGR of 4.3% during the forecast period (2023-2030), the Panic Disorder Market is projected to reach a value of USD 12,621.61 Million by 2030.
Panic disorder refers to anxiety disorder where the patient has unforeseen panic attacks regularly. Panic disorder is an unforeseen episode of intense fear that activates serious physical reactions when there is the absence of real danger or apparent cause. Furthermore, panic attacks are recurrent and lead to long periods of constant fear of another attack. As a result, various treatments are utilized, including medications and psychotherapies, among others.
The increasing prevalence of anxiety and depression is accelerating the demand for panic order treatments to help in minimizing the intensity and frequency of panic attacks along with enhancing functionality in daily life. For instance, according to the recent statistics published by the World Health Organization (WHO), in 2021, the global prevalence of anxiety and depression increased by 25% as compared with the year 2020. Henceforth, the increase in the prevalence of anxiety and depression is fostering the growth of the market.
Moreover, the increasing partnerships between panic disorder treatment companies to ensure the development of advanced treatment solutions will trigger the growth of the panic disorder market in the upcoming years.
Panic Disorder Report Coverage:
|Market Size in 2030 (USD Million)
|By Treatment Type
|Psychotherapy, Medication (Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs), Benzodiazepines), and Others
|By Dosage Form
|Tablets, Injections, and Others
|By End User
|Hospitals and Clinics, Mental Healthcare Centres, and Others
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
|Pfizer Inc., Sun Pharmaceutical Industries Ltd., F. Hoffmann-La Roche AG, Eli Lilly & Company, Sumitomo Dainippon Pharma Co., GSK Group of Companies, Recordati Rare Diseases, Ltd., Bausch Health Companies Inc., LIFECARE NEURO PRODUCTS LTD., and Neuraxpharm
The panic disorder treatments such as medications, psychotherapy, or a combination of both are highly result oriented for the treatment of panic disorder as these treatments targets to help a person recognize and alter unhealthy emotions. In addition, the panic disorder treatment ensures a reduction in the frequency of panic attacks. The prevalence of panic attacks is increasing due to various factors, including rising depression, family history, and growing cases of heart-related problems, among others.
For instance, according to the recent statistics published by Cleveland Clinic, a healthcare provider in the United States, panic attacks in the United States account for 11% of the total population on an annual basis. Moreover, about 2% to 3% of the United States population suffers from panic disorder. Thus, the increasing prevalence of panic attacks is prompting the adoption of panic disorder treatments to minimize the occurrence of panic disorders, which, in turn, is accelerating market growth.
The factors such as the presence of contamination, the potential of foreign substances, government interventions, non-sterility, and others are leading to the recall of the panic disorder treatment product range.
For instance, in October 2019, Mylan Pharmaceuticals recalled a lot of Alprazolam Tablets, USP C-IV 0.5 mg, a medicine for the treatment of panic disorder, owing to the potential presence of foreign substances. The foreign substance may have a potential risk for patients. Thus, due to the above factors major players in the global panic disorder market are recalling various panic disorder treatment products. The recall of panic disorder products will impact the revenue growth of various companies, thereby posing a major bottleneck for market growth in the upcoming year.
In recent years, strategic collaborations related to the development of a new range of panic disorder medicines are increasing to increase the commercialization of panic disorder medicines in the global market.
For illustration, in April 2023, the strategic collaboration between Sunovion Pharmaceuticals Inc., headquartered in the United States, and Otsuka Pharmaceutical Development & Commercialization, Inc., based in Japan initiated the clinical trials for the Ulotaront for the treatment of panic disorders. Henceforth, strategic collaborations are increasing for the development and trials of panic disorder medicines to enable a reduction in anxieties. This prime determinant will create a lucrative growth opportunity for the market during the projected forecast period.
Panic Disorder Market Segmentation:
By Treatment Type
The treatment type segment is classified into psychotherapy, medication, and others. In 2022, the medication segment accounted for the highest market share in the panic disorder market. The medications for panic disorders such as serotonin & norepinephrine reuptake inhibitors (SNRIs), benzodiazepines, and others are ideal for the treatment of panic disorder. The medication provides relief in depression symptoms, including irritability, sadness, and others, thereby reducing the incidents of panic disorders. Furthermore, the advantageous effects of benzodiazepines include the maintenance of sleep, the reduction of anxiety, muscle relaxation, and others, which leads to efficient treatment of panic disorders.
For instance, in July 2020, VistaGen and EverInsight formed a partnership for the development and commercialization of first-in-class drugs for panic disorders in the Asian market. Thus, the development of a new range of products for panic disorder medication to help in preventing the symptoms of depression is expected to foster the growth of the segment.
However, psychotherapy is expected to grow at the fastest CAGR during the forecast period. Psychotherapy is considered an efficient first-choice treatment for panic disorder as psychotherapy help in learning how to cope with panic disorders. The psychotherapy sessions can gradually result in a reduction in anxiety and depression, thereby enabling efficient treatment of panic disorder.
By Dosage Form
The dosage form segment is divided into tablets, injections, and others. In 2022, the tablets segment accounted for the highest market share in the panic disorder market. Panic disorder tablets are easy to pack in travel dispensers per pack. It can conveniently fit in a bag or pocket. Thus, the primary advantage of a panic disorder tablet is its ease of use. Moreover, the major benefits associated with the use of panic disorder tablets include high precision, dose accuracy, and lower variability, among others. Additionally, tablets are easier to swallow, and, in some cases, they can easily dissolve in water for feeding the children. For instance, in September 2021, Apotex Inc., a Canada-based pharmaceutical company launched Paxil (paroxetine hydrochloride) tablets for the treatment of panic disorders. Thus, the introduction of new products to ensure the reduction of anxiety. This factor is accelerating market growth.
However, the injections segment is expected to be the fastest-growing segment during the forecast period. The key benefits associated with the injections for panic disorder are reducing the symptoms of anxiety & depression, providing lasting impact, and others. Thus, due to the above benefit, the utilization of injections is increasing for the treatment of panic disorders.
By End User:
The end user segment is categorized into hospitals, mental healthcare centres, and others. In 2022, the hospitals segment accounted for the highest market share in the panic disorder market. In hospitals, the adoption of panic disorder treatments such as medications and psychotherapy is increasing to enable vital treatment of panic disorders. Furthermore, the hospitals are forming collaborations for the development of new clinics, which will target children. For instance, in March 2023, Sentara Martha Jefferson Hospital and UVA Childrens formed a partnership for the development of a new pediatric neurodevelopmental and behavioral clinic in Albemarle County, United States for the treatment of anxiety, depression, and other panic attacks. Hence, the development of new clinics for the treatment of panic attacks in children will create a potential growth opportunity for the market in the upcoming years.
However, mental healthcare centres are expected to be the fastest-growing segment over the forecast period owing to the increasing adoption of panic disorder treatments so that patients can learn how to efficiently behave in anxiety-provoking situations.
By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, North America accounted for the highest market share in the panic disorder market. The prime factors such as increasing stress levels, depression, and others are some of the vital aspects accelerating the adoption of panic disorder treatment in the United States. For instance, according to the National Alliance on Mental Illness, more than 40 million adults in the United States, which is about 19.1% of the population suffer from anxiety disorder.
Additionally, about 7% of children in the United States aged between 3 to 17 years\' experience anxiety each year. Hence, the increasing prevalence of panic disorder is accelerating the demand for panic disorder treatments to eliminate long-term phobia, which is driving the market growth.
Nevertheless, Asia Pacific is expected to be the fastest-growing region over the forecast period due to increasing cases of anxiety disorders, recently developed centers for panic attack treatment, and others.
Panic Disorder Market Competitive Landscape:
The panic disorder market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
• Pfizer Inc.
• Sun Pharmaceutical Industries Ltd.
• F. Hoffmann-La Roche AG
• Eli Lilly & Company
• Sumitomo Dainippon Pharma Co.
• GSK Group of Companies
• Recordati Rare Diseases, Ltd.
• Bausch Health Companies Inc.
• LIFECARE NEURO PRODUCTS LTD.
• In July 2022, Cybin acquires Phase I N, N-dimethyltryptamine (DMT) study, a study for anxiety disorder treatment from Entheon Biomedical. The acquisition of the study is projected to boost the clinical development pathway of CYB004.