The global anxiety treatment market size is likely to attain over USD 13.5 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 3.6% during the forecast years 2021-2028. Anxiety disorders are the most common psychiatric disorders affecting a huge population across the globe. It is a reaction to stress. Extreme level of anxiety result in anxiety disorders which include phobias, obsessive-compulsive disorder, panic disorder, post-traumatic based stress disorder.
The present and future anxiety treatment market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the anxiety treatment market opportunities during the forecast years. Factors such as the growing geriatric population, rising awareness about mental diseases and their treatment, and increasing number of product approvals are the key factors driving the market growth.
However, patent expiry for majority of the drugs, dry pipeline for the novel drugs, mental disorders that are drug-resistant and growing numbers of different generic drugs are hampering the market growth. Furthermore, innovations and developments in herbal remedies with an improved distribution network is likely to provide lucrative development opportunities for the anxiety treatment market in the forthcoming years.
The report also emphasizes several distinctiveness of the global anxiety treatment industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the anxiety treatment industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The anxiety treatment market has tough competition among the new emerging and pre-established market vendors. Besides, the anxiety treatment industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
Based on the Distribution Channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. The Hospital Pharmacy segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years owing to the increasing patients visits to look for professional help for their degrading mental health. However, the rising patient preference to buy products from nearby pharmacies on a regular basis is responsible for the growth of the retail pharmacies segment.
North America accounted for a maximum share of the global market over the forecast period owing to the rise in number of cases of pain, coupled with the greater prevalence of anxiety, growth in awareness regarding mental health, high-disposable income, in the region. However, Europe is expected to have a noteworthy growth over the forecast period owing to huge investments in R&D for the development of drugs.
The major players of the global anxiety treatment market are Novartis AG, Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson, Merck & Co. Inc., AbbVie Inc., Eli Lilly and Company, GlaxoSmithKline plc, and Sanofi. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. Renowned companies are offering new and modern anxiety treatment. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Anxiety Treatment Market
Drug Class Overview, 2019-2028 (USD Million)
- SSRIs (Selective Serotonin Reuptake Inhibitors)
- SNRIs (Serotonin-Norepinephrine Reuptake Inhibitors)
- TeCAs (Tetracyclic Antidepressants) (Spool Pieces, Clamp-On, Insertion)
- TCAs (Tricyclic Antidepressants)
- MAOIs (Monoamine Oxidase inhibitors) (In-Line, Insertion, Low flow)
- Atypical Antipsychotics
Disorder Type Overview, 2019-2028 (USD Million)
- Major Depressive Disorder
Distribution Channel Overview, 2019-2028 (USD Million)
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America