One of the key growth promoting factors for this market is daily stress of life and that keeps on increasing.
One of the key growth promoting factors for this market is daily stress of life and that keeps on increasing. This is an era where demands of modern lifestyle and modernization come at a cost and with a set of various limitations. The modern culture comes with the fear of being unemployed, heavier load of work, personal and professional issues, night shifts, tight deadline and so on. These day to day challenges that are faced by an individual over a long period of time along with unhealthy lifestyles result in many of the mental disorders, one such being anxiety and panic disorders.
Various advancements in the field of science and technology such as new DNA-editing technologies and genetic engineering have helped researchers in obtaining a better and deep insight of the genes that are linked with the constant progress of anxiety disorders and it assists the researchers to come up with much improved of target therapies so as to treat them more effectively. The gene NTRK3 is held accountable for causing such a panic disorder as the deregulation of this particular gene results in the malfunctioning of the memory system that is related to fear. As such, an extensive research on this particular gene under the field of neurogenetics allows the researchers to develop and bring forth various treatment therapies that directly treat that very area of the brain that is affected and generates pharmacological effects.
One of the key trends that is prevailing in the world market for anxiety and panic disorders drugs is the synergistic effects of medication that is aided with neuromodulation devices and the same trend is foreseen to continue throughout the period of forecast that extends from the year 2017 to 2025. The neuromodulation refers to a novel psychiatric treatment and when one undergoes that treatment and also when it is taken with the traditional therapeutic regimen, it provides a complete and all inclusive treatment for anxiety and panic disorders. This method of treatment is further expected to positively impact the acceptance of these drugs in the market and thereby stimulate the growth of the global market for anxiety and panic disorders drugs.
Global Anxiety and Panic Disorders Drugs Market: Overview
Anxiety and panic disorders affect millions of people across the globe. Collectively, afflicted people seeking to stem the malaise are known to spend billions of dollars on it. While anxiety is a result of individuals unable to cope up with stress or undue worry sometimes without any perceptible external trigger, a panic disorder is more serious and usually strikes without reason or warning.
Anxiety disorders include social anxiety, generalized anxiety disorder, and panic disorders. Symptoms of panic disorders typically are sudden and extreme bouts of fear and nervousness that often manifest through physical symptoms such as a pounding heart and profuse sweating. Both anxiety attacks and panic attacks can be treated using medication and psychotherapy.
Global Anxiety and Panic Disorders Drugs Market: Key Trends
The global anxiety and panic disorders drugs market is expected to rise steadily on account of more individuals recognizing the condition and seeking treatments and due to progress in neurogenetics. The emergence and gigantic progress of genetic engineering and the relatively new DNA-editing technologies that have provided better insights into genes related to progression of anxiety disorders has subsequently helped in developing target therapies for cure.
A key trend noticed in the anxiety and panic disorders drugs market is the combination of medication and neuromodulation devices. Neuromodulation is a unique psychiatric treatment, which coupled with traditional therapeutic regimen, brings about a holistic treatment of anxiety and panic disorders. This is expected to lead to swifter uptake of the drugs thereby driving growth in the market in the near future.
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Global Anxiety and Panic Disorders Drugs Market: Market Potential
With more and more people reporting anxiety and panic disorders, scientists, researchers, and organizations are making every effort to come up with innovative methods to treat the conditions. Researchers from Columbia University and the University of Wisconsin-Milwaukee, for example, are redesigning a drug compound first created by UWM’s James Cook to calm anxiety without dangerous side effects. They have already overcome crucial challenges in the process.
Government efforts are also creating opportunities for growth in the market. The Ontario government in the nation of Canada, for instance, announced that it would make prescription medications free for all children and youth under 24 years of age. Medications that will be covered include drugs to treat depression, asthma inhalers, anxiety and attention deficit hyperactivity disorder, antibiotics and oral contraceptives. Once implemented, the rule would likely create opportunities in the anxiety and panic disorders drugs market.
Currently, the two types of drugs available in the market can be broadly segmented into antidepressant drugs and anxiolytic drugs. Of the two, the antidepressant drugs could gross maximum revenue in the next couple of years on the back of the launch of newer selective serotonin reuptake inhibitor (SSRIs) with safer side effects.
Global Anxiety and Panic Disorders Drugs Market: Regional Outlook
Geographically, the key segments of the global anxiety and panic disorders drugs market are Asia Pacific, Europe, North America, and the Rest of the World. North America, among them, is primed to be a key market due to the alarming increase of anxiety disorders and the subsequent visits to psychiatrists for cure.
Global Anxiety and Panic Disorders Drugs Market: Competitive Analysis
In order to assess the competition prevailing in the global market for anxiety and panic disorders drugs, the report profiles prominent players such as AstraZeneca, Eli Lilly, GlaxoSmithKline, and Pfizer.
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