The Global Anxiety Drugs Market Research Report is now available at Research and Markets, a company that gathers information about target markets and customers.
In 2020, the Global Anxiety Drugs Market size was estimated at $13.72 billion, which was then expected to reach $14.85 billion in 2021. Experts believe that the market is projected to grow at a CAGR of 8.61% to reach $24.47 billion by 2027, according to PR Newswire.
The report analyses the competitive landscape in terms of markets, applications, and geographies. It also describes the optimal or favorable fit for the vendors to adopt merger and acquisition strategies, research & development, and new product introduction strategies.
The Global Anxiety Drugs Market report also offers the analysis of vendors, providing the idea of its revenue generation. It offers key insights into how industry players are performing in terms of revenue generation and customer base.
Knowing market share and growth offers an idea of the size and competitiveness. It also reveals the market characteristics.
Key players of the Global Anxiety Drugs Market include Allergan, Apotex, AstraZeneca, Eli Lilly, GlaxoSmithKline, H. Lundbeck, Huahai Pharmaceutical, JIANFENG, Johnson & Johnson, Kanghong Pharmaceutical, Merck, Mylan, Otsuka, Pfizer, Sanofi, Sun Pharmaceuticals, Takeda, Valeant Pharmaceuticals, Win Sunny, and Zydus.
Anxiety disorders are among the most prevalent mental health conditions. In the United States, anxiety disorders affect more than 13% of people, making it one of the most common groups of mental health disorders. Anxiety disorders could lower productivity and increase morbidity and mortality rates.
It is important to treat anxiety with anxiolytics and other treatments. Lately, increased attention is being paid to anxiety disorder treatment. However, treatments can be considerably expensive. Patients with no health insurance cannot afford brand-name anxiety drugs because they are expensive, which could be a restraining factor for market growth.
The market is expected to grow because of the rising incidence of anxiety disorders and increasing awareness to treat such disorders.
In addition, there has been a higher incidence of suicide due to anxiety disorders and depression, increasing the demand for therapies. In the year 2020, Cognitive Behavior Therapy [CBT] accounted for the largest market share among other therapy segments.
In 2020, North America accounted for the largest revenue share in the anxiety disorder and depression treatment market, according to BioSpace. The region continues to account for a high market share during the forecast period. In addition, the Asia Pacific region has also been expected to have a high market share due to an increased prevalence of anxiety disorders and depression.