Description
Theglobal general anxiety disorder market size is projected to grow at a CAGR of 5.1% from 2021 to 2027. Uncontrollable worry about everyday events in a person’s life is a symptom of anxiety disorders. Generalized anxiety disorder, specific phobias, panic disorder, social anxiety disorder, separation anxiety disorder, and agoraphobia are some of the different types of anxiety.
Further, generalized anxiety disorder (GAD) symptoms include headaches, tension, excessive sweating, and exhaustion. GAD is associated with other anxiety disorders and depression. Genetics, brain chemistry, exposure to stressful events, family background, and life experiences all play a role in the development of GAD.
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Additionally, GAD is caused by various factors, including genetics, brain chemistry, and environmental factors such as trauma and stressful events, family history, and life experiences. The disorder develops gradually and can occur anytime during one’s life, though the risk is most significant between childhood and middle age. GAD is diagnosed when a person has three or more symptoms and has been worrying excessively about everyday problems for more than six months. According to the Centers for Disease Control and Prevention (CDC), anxiety disorders affect more than 15% of the European population. Moreover, according to the CDC, women are more likely than men to have a condition. Psychotherapy, which teaches a person different ways of reacting and thinking in different life situations, is generally preferred by GAD patients over medication.
COVID–19 Impact on the Global General Anxiety Disorder Market
COVID 19 is a global pandemic that has affected a large portion of the population. The majority of those infected with the Corona Virus suffer from anxiety disorders. Manufacturers have made significant investments in the development of anxiety disorder treatment due to the rising number of cases of generalized anxiety disorders. Anxiety disorders include agoraphobia, generalized anxiety disorder, and social anxiety disorder, among others. This investment leads to increased medication, which increases the global market size for anxiety disorder treatment. COVID 19’s global pandemic has a positive impact on the drug’s global market share. In the coming years, this treatment’s market share is expected to increase even more.
Global General Anxiety Disorder Market Dynamics
Drivers: Economic Burden of Mental Disorders
Mental disorders are becoming more common in adults and children due to the enormous financial and emotional burden they place on individuals, families, and society as a whole. According to the WHO, in 2017, anxiety disorders hold a 3.4% share of the global population with various diseases, around 264 million people. This will eventually have a financial impact. According to the World Health Organization (WHO), the cost of mental health problems in developed countries is estimated to be between 3% and 4% of GNP. As a result, the government’s strategy to reduce the economic burden of such disorders is likely to drive product demand, ensuring timely anxiety and depression treatment.
Restraints: Side effects of medications
Side effects from medications, such as habit formation, dry mouth, and nausea, may limit the market growth. Treatment of affected neurological cells with high drug doses generally causes harm to normal body cells. Weight gain, blurred vision, dizziness, nausea, and other side effects are common among patients. As a result, the adverse side effects of drugs for general anxiety disorders limit the market’s growth. Another factor impeding market expansion is the widening gap between the demand for treatment and the available resources. According to the WHO report, between 44 percent and 70 percent of patients in developed countries do not receive treatment. At the same time, the gap is even wider in developing countries, at close to 90 percent.
Opportunities: The rising pipeline drugs in the market
In the coming years, the rising pipeline drugs in the GAD market will create a lucrative opportunity for market growth. Globally, research and development for advanced patient care for mental health disorders are speeding up. For instance, Vilazodone, an Abbvie drug, is a new antidepressant with a selective serotonin (5-HT) reuptake inhibitor and partial agonist profile for the 5-HT1A receptor, so it’s referred to as a serotonin partial agonist-reuptake inhibitor (SPARI). Vilazodone’s SPARI properties have been speculated to have three potential benefits, including a faster onset of action, greater efficacy, and better tolerability. Innovative experiments that resulted in combination therapies with new or existing drug molecules have increased the number of GAD treatment candidates in the pipeline.
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Scope of the Report
The study categorizes the general anxiety disorder market-based therapies type, medical devices, and therapeutics at the regional and global levels.
By Therapies Type Outlook (Sales, USD Million, 2017–2027)
- Interpersonal Therapy (IPT)
- Behaviour Therapy
- Cognitive Behavioral Therapy (CBT)
- Mindfulness-based Cognitive Therapy (MBCT)
By Medical Devices Type Outlook (Sales, USD Million, 2017–2027)
- Deep Brain Stimulation (DBS)
- Electroconvulsive Therapy (ECT)
- Transcranial Magnetic Stimulation (TMS)
- Vagus Nerve Stimulation (VNS)
By Therapeutics Outlook (Sales, USD Million, 2017–2027)
- Antidepressant
- Buspirone
- Benzodiazepines
By Region Outlook (Sales, USD Million, 2017–2027)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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The antidepressant segment of the general anxiety disorder market is projected to account for the largest share of therapeutics
The general anxiety disorder market has been segmented into antidepressants, buspirone, and benzodiazepines based on therapeutics. The antidepressant segment accounted for the largest share in the global general anxiety disorder market in 2020. Antidepressants are effective treatments used to treat the major depressive disorder, anxiety disorders, chronic pain, and addictions. Dry mouth, weight gain, dizziness, headaches, sexual dysfunction, and emotional blunting are common antidepressant side effects.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global general anxiety disorder market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Four main countries, namely, China, India, Japan, and the Rest of Asia-Pacific, are analyzed in Asia-Pacific. Asia-Pacific holds the second position in the global general anxiety disorder market. China accounted for a significant share of this market in 2020, and India is expected to experience rapid growth during the forecast period.
China holds a significant share of the general anxiety disorder market in terms of development. However, developing countries such as India, Singapore, Hong Kong, Taiwan, and others have been important markets. Changing lifestyles lead to increasing stress, and growing facilities to detect anxiety disorders impact the region’s market growth.
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Key Market Players
The general anxiety disorder market is mildly concentrated in nature with few numbers global players operating in the market such GlaxoSmithKline Pharmaceuticals Limited, Bristol-Myers Squibb, Noven Pharmaceuticals, Inc., Actavis Pharmaceutical Company, F. Hoffmann-La Roche, Abbott Laboratories, Eli Lilly and Company, Pfizer Inc., and Shionogi and Company, among others. The other market players include Baxter International, Recordati Rare Diseases, and Sumitomo Dainippon Pharma. These players have been adopting various winning strategies to gain higher shares or retain leading positions in the market.
