Emerging Trends and Dynamics in the Agoraphobia Market by 2023

Market Overview

Desensitization triggered by exposure therapy results in familiarization which makes the condition better. The therapist assists the patient to comprehend thought patterns, false attitudes, and false beliefs, which raises concern, with an objective to transform the thought process and to shape the thought patterns more helpful and realistic. Anti-anxiety drugs called benzodiazepines find wide application in relieving acute fretfulness since they are known to form habits. Alternative medicines and dietary supplements have been tested and found to be beneficial. Market Research Future has conducted an exhaustive study on the global Agoraphobia treatment market and concluded that Agoraphobia diagnosis and treatment market is likely to attain $800 mn by the conclusion of 2023. The market is anticipated to develop at a CAGR of 4.3 % over the forecast period 2017-2023.

Agoraphobia is prevalent in around 1.7% of adults with women having a high propensity to be affected by the ailment. Agoraphobia diagnosis and treatment market is significantly fueled by aspects like expanding incidence of stress, sedentary lifestyles, genetic disposition, growing screening and awareness, substance abuse, lack of affection in relations, worsening health standards in the modern lifestyles, etc. The factors that restrict the market growth include low focus and penetration of mental health in society, inclination to hide mental ailments, unwillingness to treatment and therapy, social stigma related to psychotherapy, etc. Cognitive behavioral cure is the key psychotherapy for agoraphobia. Cognitive behavioral therapy mostly involves teaching skill to endure anxiety in a better way, challenging the worries, and projecting the most realistic and probable outcomes of the place or situation. Exposure therapy is another efficient way of dealing with the symptoms of Agoraphobia. The therapy focuses on increasing the exposure to situations which causes a panic attack and to tolerate and cope with the consequence that follows.

Agoraphobia refers to the anxiety related to situations or places that causes panic stricken behavior accompanied by a feeling of being helpless or trapped. The situation might be real or imaginary such as traveling a public conveyance, being present in an enclosed space or being surrounded by a crowd. Symptoms and signs of a panic attack in agoraphobia include troubled breathing, increased heart rate, dizziness, chest pain, feeling of loss of control, excessive sweating, and fear of dying. Agoraphobia is predominantly triggered by a blend of environmental and genetic factors. Other symptoms consist of posttraumatic depression, stress, and separation anxiety. Agoraphobia patients suffer from a surged risk of substance use disorder and depression.

Market Segmentation

The global agoraphobia market is segmented based on therapy, end users, and drug treatment. Based on therapy, the market is segmented into exposure therapy, cognitive behavioral therapy (CBT), psychotherapy, and others. Based on the end users, the market is segmented into academics, clinics, hospitals, and others. Based on drug treatment, the market is segmented into norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors, anti-anxiety medications, tricyclic antidepressants, and others.

Regional Analysis

The US market represents a major share of global Agoraphobia treatment sector owing to the outstanding reimbursement set-up, surged outlay on healthcare, and favorable insurance programs. The faster market approval of novel devices and technologies in the US is also a significant driver of the global market for agoraphobia diagnosis and treatment. Europe market holds the second largest share owing to the affluence of the population and their rising awareness about mental health. The Middle East & Africa market is dominated by the Gulf nations specifically UAE and Saudi Arabia.

Key Players

Global Agoraphobia market is largely dominated by renowned players such as Eli Lilly & Co., Bristol-Myers Squibb, AstraZeneca, GlaxoSmithKline plc, Sandoz Inc., Pfizer inc, Mylan Pharmaceuticals Inc., and Apotex Corp.

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