by Panic attack treatment involves medication and therapies to reduce panic attack symptoms and help prevent future attacks. Some common medications prescribed for panic attacks include selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), benzodiazepines, and beta blockers. Therapies such as cognitive behavioral therapy (CBT) aim to change thought patterns that tend to trigger panic attacks. The global panic attack treatment market is driven by the growing prevalence of anxiety disorders worldwide. 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 Takeaways
Key players operating in the Global Panic Attack Treatment Market Demand are Widex A/S, GN Hearing A/S, Starkey Hearing Technologies, Sivantos Group (now WS Audiology), Cochlear Limited. Growing awareness about therapeutic options and increasing healthcare expenditure in developing nations present lucrative opportunities in the market. There is rising adoption of digital health solutions for remote monitoring and easy accessibility of panic attack treatment. This is expected to boost the global scope of key players over the forecast period.
Key players operating in the global panic attack treatment market include Widex A/S, GN Hearing A/S, Starkey Hearing Technologies, Sivantos Group (now WS Audiology), and Cochlear Limited. The market presents opportunities in new product launches involving advanced digital technologies. Growing healthcare investment in emerging countries such as India, China, and Brazil will aid expansion of market players in those regions.
Market drivers
The increasing geriatric population prone to anxiety disorders majorly drives the global panic attack treatment market. As per the Anxiety and Depression Association of America, panic disorder affects approximately 6 million Americans aged 18 and older in a given year. The rising awareness regarding availability of various treatment options also fuels the market growth. Additionally, growing focus on telehealth and digital tools for remote care management of panic attacks propels the market forward.
PEST Analysis
Political: The regulations for drug development and medical device approvals can impact the global panic attack treatment market. Changes in healthcare reforms and funding also affect market growth.
Economic: Global economic conditions influencing consumer spending on healthcare impact demand for panic attack treatments. Rising per capita income in emerging nations boosts the market.
Social: Growing mental health awareness increases focus on panic attack conditions and demand for proper treatment options. Reducing social stigma surrounding such disorders expands the patient base.
Technological: Advancements in digital therapeutics, cognitive behavioral therapy apps, wearable biosensors aid early diagnosis and remote monitoring. Development of novel drug formulations and devices improve patient outcomes.
Geographical regions where market in terms of value is concentrated:
North America dominates the global panic attack treatment market currently in terms of revenue due to higher adoption of advanced therapeutic options. Large healthcare expenditures and presence of major market players in the US and Canada drive the regional market. Growing medical tourism from Asia and Latin America also contributes to North America’s leading position.
The fastest growing region for the global panic attack treatment market:
Asia Pacific region is expected to witness the highest CAGR over the forecast period owing to rising disposable incomes, growing mental health awareness, and improving healthcare access in major countries like China and India. Increasing collaborations between regional and international industry players to expand availability of treatment services further propels the APAC panic attack treatment market.
