Agoraphobia Market scenario:
Agoraphobia is the fear of places or situations that causes panic behaviour with a feeling of being trapped or helpless. The situation may be actual or anticipated such as using public transportation, being in open or enclosed spaces or being in a crowded place. Signs and symptoms of a panic attack in agoraphobia are rapid heart rate, trouble breathing, chest pain, dizziness, excessive sweating, feeling of loss of control and fear of dying etc. Agoraphobia is primarily caused by a combination of genetic and environmental factors. Other conditions include separation anxiety, posttraumatic stress and depression. Agoraphobia patients are at a higher risk of depression and substance use disorder. Agoraphobia is prevalent in about 1.7% of adults with women having a greater propensity to be affected by the disorder.
The market for agoraphobia diagnosis and treatment is driven by factors such as growing prevalence of stress, genetic predisposition, sedentary lifestyles, deteriorating health standards in the contemporary lifestyles, substance abuse, lack of intimacy in relations, increasing awareness and screening etc. The market restraints are social stigma regarding psychotherapy, low focus and penetration of mental health in society, tendency to hide mental disorders and reluctance to therapy and treatment etc.
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Cognitive behavioural therapy is the leading psychotherapy for agoraphobia. Cognitive behavioural therapy focuses on teaching skills to better tolerate anxiety, challenging your worries and anticipating most probable and realistic effects of the situation or place. Exposure therapy focus on increasing exposure to places which trigger a panic attack and to cope and tolerate symptoms of agoraphobia. Desensitization caused by exposure therapy results in habituation which improves the condition.
The therapist helps the patient to understand thought patterns and false beliefs or attitudes which raises anxiety with an aim to change ways of thinking and to make thought patterns more realistic and helpful. Selective serotonin reuptake inhibitors such as fluoxetine and sertraline are the standard drug therapy for the treatment of panic disorder in agoraphobia. Anti-anxiety drugs called benzodiazepines are used as or to relieve acute anxiety as they are habit-forming. Dietary supplements and alternative medicines such as kava kava have been tried and have found to be useful. However, kava kava has been reports of serious liver damage. The Food and Drug Administration has issued warnings and thus kava kava should be avoided if liver problems exists.
Considering all these factors, the market for agoraphobia diagnosis and treatment is expected to reach $ 800 million by the end of 2023, this market is projected to growing at a CAGR of ~ 4.3 % during 2017-2023.
Key players of Global Agoraphobia market:
Key players profiled in the report are Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, Pfizer inc, GlaxoSmithKline plc, Johnson & Johnson, Sandoz Inc., Apotex Corp., Mylan Pharmaceuticals Inc. and others.
Agoraphobia Market Segments:
The global agoraphobia market is segmented on the basis of drug treatment, therapy and end users. Based on drug treatment, the market has been segmented as selective serotonin reuptake inhibitors, norepinephrine reuptake inhibitors, tricyclic antidepressants, anti-anxiety medications and others. Based on the therapy, the market has been segmented as psychotherapy, cognitive behavioral therapy (CBT), exposure therapy and others. Based on the end users, the market has been segmented as hospitals, clinics, academics and others.
Agoraphobia Market Regional analysis:
US accounts for the maximum market share due to favorable insurance penetration, excellent reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology and devices in the US is also an important driver of the market for global agoraphobia diagnosis and treatment. Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region is expected to have the most future potential and it is estimated to be led by China and India. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The regions of Africa are expected to witness a moderate growth due to poor economic and political conditions and poor healthcare penetration.
Table of Content
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2 Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
3 Market Dynamics
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power Of Suppliers
4.3 Bargaining Power Of Buyers
4.4 Threat Of New Entrants
4.5 Threat Of Substitutes
4.6 Intensity Of Rivalry
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