Agoraphobia Market Research Report-Forecast till 2027

Agoraphobia market information: by drug treatment (selective serotonin reuptake inhibitors, norepinephrine reuptake inhibitors, others) by therapy (Psychotherapy, Cognitive Behavioral Therapy (CBT), others) by end users - Forecast till 2027

ID: MRFR/Pharma/2690-HCR | February 2021 | Region: Global | 90 pages

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Synopsis of Agoraphobia Market: 


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 agoraphobia 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.

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. 


Figure 1         Global Agoraphobia market by Surgery, 2016 (% Market Share)


 


Agoraphobia Market Segments:


The global agoraphobia market is segmented on the basis of drug treatment, therapy and end users. Based on drug treatment, the agoraphobia 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 agoraphobia market  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.


Key players of Global Agoraphobia market:


Key players profiled in the agoraphobia market report are Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, Pfizer inc, GlaxoSmithKline plc, Johnson & Johnson, Sandoz Inc., Apotex Corp., Mylan Pharmaceuticals Inc. and others.


The report for Global agoraphobia market by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different agoraphobia market segments and regions.


Intended Audience



  • Global Agoraphobia diagnosis and treatment solutions, manufacturers & suppliers

  • Research and development (R&D) companies

  • Hospitals and clinics

  • Academic institutes and universities



Sources: Mayo Clinic, MRFR Analysis.


 



Report Scope:
Report Attribute/Metric Details
  Market Size   2023: USD 800 million
  CAGR   2017-2023: ~ 4.3%
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Drug treatment, Therapy and End users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, Pfizer inc, GlaxoSmithKline plc, Johnson & Johnson, Sandoz Inc., Apotex Corp., Mylan Pharmaceuticals Inc
  Key Market Opportunities

  • faster market uptake of new technology and devices in the US
  • US accounts for the maximum market share due to favorable insurance penetration, excellent reimbursement scenario and greater expenditure on healthcare.

    		•
      Key Market Drivers

  • Growing prevalence of stress, genetic predisposition
  • Sedentary lifestyles
  • Deteriorating health standards in the contemporary lifestyles
  • Increasing awareness and screening etc

    		•


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    Frequently Asked Questions (FAQ) :

    agoraphobia market is touted to touch USD 800 million by 2023.

    agoraphobia market is expected to register 4.3% from 2017 to 2023.

    The U.S. has the largest market share in the global agoraphobia market due to insurance schemes and favorable reimbursement schemes.

    The APAC region has the largest potential in the global agoraphobia market.

    Eli Lilly & Co., AstraZeneca, Bristol-Myers Squibb, Apotex Corp., Johnson & Johnson, Pfizer Inc, Sandoz Inc., Mylan Pharmaceuticals Inc., and GlaxoSmithKline plc are major players of the global agoraphobia market.