Generalized Anxiety Disorder Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: October 12, 2022
Historical Years – 2023 | Base Year – 2023 | Forecasted Years – 2024-2032
|
Report Attribute |
Details |
|
Market size value in 2023 |
US$ 13.26 billion |
|
Revenue forecast in 2032 |
US$ 18.8 billion |
|
Growth Rate |
CAGR of 3.6% from 2024 to 2032 |
|
Base year for estimation |
2023 |
|
Forecast period |
2024-2032 |
|
Segments covered |
drug class, distribution channel, and region |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global generalized anxiety disorder therapeutics was valued at US$ 13.26 billion in 2023 and is expected to register a revenue CAGR of 3.6% to reach US$ 18.8 billion by 2032.
Market Fundamentals
Generalized anxiety disorder (GAD) is a mental health condition characterized by ongoing and uncontrollable worry about various aspects of life. Individuals with GAD frequently struggle to manage their anxiety, which can impair daily functioning. Worry is usually pervasive and generalized rather than specific to one event. It is characterized by persistent and excessive worry and tension in day-to-day events and activities. The physical symptoms of GAD include restlessness, edgy feelings, easy fatigue, difficulty concentrating, sleeping problems, and muscle tension.
Thus, an accurate diagnosis involves a comprehensive assessment to treat or alleviate GAD symptoms. This evaluation encompasses a detailed examination of medical history, physical examinations, and psychological evaluations. As for the treatment, antidepressants such as selective serotonin reuptake inhibitors (SSRIs) and serotonin and norepinephrine reuptake inhibitors are viewed as the first line of treatment for generalized anxiety disorder. SSRIs can relieve anxiety and reduce the symptoms of depression that often come with anxiety. Other key drugs used for GAD treatment are benzodiazepines, buspirone, etc.
Market Dynamic
Globally, the prevalence of anxiety and mental health disorders has been increasing in both adults and children. Modern lifestyles, with high-stress levels, fast-paced environments, and constant connectivity, contribute to the rise in anxiety disorders, including GAD; economic pressures, job insecurity, and societal expectations are among the factors that contribute to increased stress levels. A report published in October 2021 on the global burden of mental health issues, including anxiety disorders, emphasizes the prevalence of these conditions. These studies emphasize the importance of effective therapeutic interventions, which drive the demand for GAD treatments. Various awareness campaigns led by mental health organizations and governments have attempted to educate the public about mental health issues, including GAD. These campaigns frequently include information about recognizing symptoms, seeking help, and reducing the stigma associated with mental health disorders. Advocacy groups and celebrity’s involvement in mental health and influential figures in promoting discussions about anxiety disorders have helped to destigmatize seeking help. Television shows, podcasts, social media, open conversations, and a multitude of clinical research have all contributed to a positive shift in the conversation and awareness of mental health.
Pharmacological innovations, such as ongoing psychopharmacology research, have resulted in new GAD medications with increased efficacy and fewer side effects. Similarly, psychotherapeutic interventions, particularly cognitive-behavioral therapy, and mindfulness-based approaches have increased the efficacy of non-pharmacological treatments for GAD. Therapists are constantly refining and adapting therapeutic techniques to meet the needs of people with GAD. Ongoing research on personalized medicine, which includes genetic and biomarker research, seeks to tailor treatment approaches to the unique characteristics and needs of GAD patients. Hence, this shift towards precision medicine can optimize treatment outcomes and reduce the trial-and-error approach in medication selection.
However, a major challenge in the global generalized anxiety disorder therapeutics market is medication side effects, such as selective serotonin reuptake inhibitors or benzodiazepines, which may cause side effects. It may include side effects such as sedation, weight gain, or sexual dysfunction, all of which can hurt patients' quality of life and cause treatment discontinuation. Finding alternative medications that do not cause these side effects can be difficult. The cost of mental health treatment, including therapy sessions and medications, is a major barrier. Individuals in regions with inadequate mental health insurance coverage or high out-of-pocket expenses may face financial barriers to accessing GAD treatment, resulting in delayed or suboptimal care.
Market Ecosystem
The global generalized anxiety disorder therapeutics market has been analyzed from three perspectives: drug class, distribution channel, and region.
Generalized Anxiety Disorder Therapeutics Market by Drug Class
Based on drug class, the global generalized anxiety disorder therapeutics market is subdivided into antidepressants, azapirones, benzodiazepines, and others. The antidepressant drugs are further subcategorized into selective serotonin reuptake inhibitors, selective norepinephrine reuptake inhibitors, and others.
The antidepressants segment dominated the generalized anxiety disorder therapeutics market. The dominance of this segment can be attributed to an increased use of antidepressants for the treatment of generalized anxiety disorder. Because benzodiazepines can become addictive, they are typically used as a last resort for treating generalized anxiety disorder. The beneficial use of antidepressants for the treatment of GAD, which has a high co-morbidity ratio with major depressive disorder and dysthymia, is driving the growth of the antidepressant segment.
Benzodiazepines, also known as benzos, are a class of medications commonly used for their sedative and anti-anxiety effects. Thus, they are reasonably effective in the treatment of GAD. Benzodiazepines are expected to grow significantly in the forecast period. Examples of benzodiazepines used to treat anxiety related to panic disorder or other anxiety disorders include Xanax (alprazolam), which is prescribed for short-term relief of anxiety symptoms, and Klonopin (clonazepam), which is prescribed to treat panic disorder and panic attacks.
Generalized Anxiety Disorder Therapeutics Market by Distribution Channel
Based on the distribution channel, the global generalized anxiety disorder therapeutics market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment currently dominates the distribution channel basis for the generalized anxiety disorder therapeutics market. The large footfall of patients in the hospital for diagnosis and admissions in some cases of comorbidity increases the sale of drugs.
Generalized Anxiety Disorder Therapeutics Market by Region
Based on region, the global Generalized Anxiety disorder therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Due to the rising prevalence of anxiety disorders and increased public awareness of anxiety, North America holds a dominant position in the global market, and it is predicted to maintain its lead position during the forecast period. The region's market is also being driven by numerous key market players engaged in the production of medications for the treatment of generalized anxiety disorders. Additionally, the U.S. government has taken a constant supportive initiative to tackle mental health in this region.
The Asia Pacific generalized anxiety disorder therapeutics market is expected to grow significantly in the coming years due to several factors, including the increasing prevalence of mental health disorders, growing awareness of mental health issues, and rising demand for effective and safe treatment options.
Competitive Landscape
Some of the prominent players operating in the global generalized anxiety disorder therapeutics market are: -
Strategic Developments
The global generalized anxiety disorder therapeutics market is expected to grow at a CAGR of 3.6% in the forecast period.
AbbVie, GSK PLC, and Genentech are a few key players in the global generalized anxiety disorder therapeutics market.
The antidepressant drugs segment dominates the global generalized anxiety disorder therapeutics market.
Asia Pacific region is expected to witness the highest global generalized anxiety disorder therapeutics market growth in the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain
List of Tables
List of Figures