Panic attacks are associated with sudden episodes, of emotions of fear and anxiety. It is a type of anxiety disorder, and other anxiety disorder includes generalized anxiety disorder, obsessive-compulsive disorder (OCD), Posttraumatic stress disorder (PTSD), social anxiety disorder, and special phobias.Generally, panic attacks are not life threatening but they can be frightening and significantly affect the quality of life. Symptoms of the panic attack may vary from person to person, and intensity of attack. In general, symptomsincludes sense of danger, intense fear of loss of control or death, hot flashes, chills, chest pain, sweating, and feeling of detachment. Major risk factors for panic attacks are genetics, major stress due to changes in a life, or traumatic event, and certain changes in brain functioning. According to World Health Organization (WHO), females are at higher risk of panic attacks than males. Panic attacks left untreated, further may link to the depression, anxiety disorders, and psychiatric disorder, suicidal thoughts, and substance abuse. Treatment can help to reduce frequency, and intensity of panic attacks to improve the quality of life. Treatment recommended for panic attacks include psychotherapy (talk therapy), and medications. Psychotherapy generally considered as a first choice of the treatment.
Panic attacktreatment market segmented intodrug class, and geography. The drug class market segmented into selective serotonin reuptake inhibitor (SSRI), serotonin norepinephrine reuptake inhibitor (SNRI), and benzodiazepines (BZD). Selectiveserotonin reuptake inhibitor class further segmented into fluoxetine (Prozac), paroxetine (Paxil, Pexeva) and sertraline (Zoloft). Further, serotonin norepinephrine reuptake inhibitor includevenlafaxine hydrochloride (Effexor XR). Benzodiazepines includealprazolam (Niravam, Xanax), chlordiazepoxide (Librium), diazepam (Valium) and lorazepam.However, benzodiazepines can be habit forming hence, generally used for short term basis and consider as a last choice of treatment.SSRI and SNRI are consider as a first line therapy for panic attacks patient hence, hold the largest market share globally. Geographically, panic attack treatment market segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and Rest of the World (RoW). North America dominates the global panic attack market due to increasing incidence of panic attacks, and more awareness in people related to anxiety disordersand expected to maintain the position during forecast period. However, Asia Pacific market, expected to grow at a faster rate due to changing lifestyle led to increasing stress, and growing facilities to detect anxiety disorders.
Some of the major driving factors driving the panic attack treatment market are increasing incidence rate due to more stressful life, sedentary lifestyle, and presence of strong pipeline. According to the Anxiety and Depression Association of America, anxiety disorders are the most common illness in the U.S. and affecting 18% of population. Additionally, 2.7% of population of all anxiety disorders affected by panic attacks, which is approximately 6 million in the U.S. In the National Comorbidity Survey carried out in 2005, 58% of patients diagnosed with major depression found to have an anxiety disorders; among these patients, the rate of comorbidity with panic disorder was highest. However, poor diagnosis rate as no single diagnosis test is available to detect anxiety disorders, and side effects of medications such as habit forming nature, dry mouth, and nauseacould restraint the market growth. Focusing on emerging countrieswould create an opportunity for a market players.
Some of the key players of the global panic attack treatment market are Abbott Laboratories, Actavis Pharmaceutical Company, Baxter International, Bristol-Myers Squibb, Eli Lilly and Company,F. Hoffmann-La Roche, GlaxoSmithKlinePharmaceuticals Limited, Noven Pharmaceuticals, Inc., Pfizer,Inc., Recordati Rare Diseases, Shionogi and Company, and Sumitomo Dainippon Pharma.
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.