Agoraphobia Treatment Market: Introduction
- Agoraphobia can be defined as an anxiety disorder, in which people tend to avoid places or situations where they feel trapped. The fear can be related to using public transportation, being in enclosed or open spaces, or being in the crowd.
- People with agoraphobia develop the anxiety after having one or more panic attacks causing them to avoid the places where they experienced the panic attack
- The common symptoms of agoraphobia include being in open spaces such as parking lots, malls, and bridges; using public transportation; waiting in lines or crowds; and leaving from home alone
- In addition, people with agoraphobia also suffer from panic disorder, which is a type of anxiety disorder, wherein people experience sudden attacks of fear which reach the peak in few minutes and then trigger intense physical symptoms
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Key Drivers and Restraints of Global Agoraphobia Treatment Market
- The prevalence of agoraphobia in the U.S. population is considered to be around 2%; and in adults over 65 years of age, it is considered to be over 11%. Furthermore, the prevalence of agoraphobia is considered to be higher in women than in men. In addition, agoraphobia is considered to be very common, though is often misunderstood. This high prevalence of agoraphobia contributes to the strong demand for agoraphobia treatment, contributing to the growth of the market.
- Agoraphobia is associated with other forms of anxiety disorders, including social anxiety disorder, specific phobias, panic disorder, and substance use disorder. Furthermore, rising pandemic and the lockdowns globally, could further increase the agoraphobia and related psychological fears among people, creating a demand for treatment, contributing to the growth of the agoraphobia treatment market.
- However, social stigma associated with psychological disorders, despite significant advances in the field of psychiatry and the development of treatment for mental illness, might hamper the growth of the agoraphobia treatment market
North America to Lead Global Agoraphobia Treatment Market
- In terms of region, the global agoraphobia treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global agoraphobia treatment market in 2019, owing to strong presence of leading market players, high prevalence of agoraphobia, increasing government focus on mental health, and focus on research and development. In addition, favorable reimbursement and insurance schemes in the U.S. would contribute to the growth of the agoraphobia treatment market in the country.
- Europe was the second largest market for agoraphobia treatment in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for agoraphobia treatment, followed by Latin America and Middle East & Africa. Growing focus of governments in countries in Asia on enhancing the healthcare facilities, growing awareness among people, government initiatives, rising disposable income, and rapid economic development contribute to the growth of the agoraphobia treatment market in the region.
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Key Manufacturers Operating in Global Agoraphobia Treatment Market
Leading players in the global agoraphobia treatment market are:
- Eli Lilly & Co.
- Glaxosmithkline plc.
- Pfizer Inc.
- Bristol-Myers Squibb
- Johnson & Johnson
- Sandoz Inc.
- Apotex Corp.
- Mylan Pharmaceuticals Inc.
Global Agoraphobia Treatment Market: Research Scope
Global Agoraphobia Treatment Market, by Treatment
- Cognitive Behavioral Therapy
- Anti-anxiety Medications
Global Agoraphobia Treatment Market, by End-user
- Specialty Clinics
Global Agoraphobia Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.