LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global anxiety and panic disorders drugs market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sapna Jha, a lead analyst from Technavio, specializing in research on the central nervous system sector, says, “Prozac represented the pharmaceutical market in the 1990s with its multi-billion-dollar drug sales, which made depression more curable. Then followed the other blockbuster drugs such as XANAX, which became the first drug to receive the US FDA's approval for the treatment of anxiety and panic attacks.”
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The top three emerging trends driving the global anxiety and panic disorders drugs market according to Technavio research analysts are:
Synergistic effects of medication aided with neuromodulation devices
The global anxiety and panic disorders drugs market has witnessed many repurposed and off-label drugs for their treatment. The traditional therapeutic approach has left people only with a partial treatment, resulting in a large pool of untreated or partially treated population. Therefore, to offset the impact of these drugs, many novel techniques have been developed over the past few years to satisfy the demand for novel treatment approach for these disorders.
“Non-invasive procedure along with other medications has completely removed the use of sedatives or anesthesia and alleviated seizures or loss of consciousness. Such benefits have led to its high acceptance in the developed countries,” according to Sapna.
Growing public awareness
The growing public awareness about depression is expected to increase the acceptability of various drugs. The Anxiety and Depression Association of America, Mental Health America, Depression and Bipolar Support Alliance, Suicide Awareness, Voices of Education, and Freedom from Fear are some of the non-profit organizations that are involved in spreading awareness about depression and its implications.
These organizations mostly rely on social media and word-of-mouth techniques to communicate with their target audience. They use blogs, Facebook posts, tweets, and YouTube videos extensively to increase awareness.
Evolving scientists’ interest for development of novel therapeutics
The scientists have been targeting a variety of innovative pathways for the treatment of anxiety and panic disorders including the traditional approaches such as dopaminergic and serotonergic pathways. However, the continuous focus of scientists to develop novel therapeutics have led to the discovery of some new targets that may serve helpful for the treatment of anxiety and panic disorders.
The key vendors are as follows:
- AstraZeneca
- Eli Lilly
- GlaxoSmithKline
- Pfizer
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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