Generalized Anxiety Disorder Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: October 12, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 8869.5 million |
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Revenue forecast in 2030 |
US$ 12193 million |
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Growth Rate |
CAGR of 3.6% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
drug class, distribution channel, and region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global generalized anxiety disorder therapeutics market was pegged at US$ 8869.5 million in 2021 and is expected to witness a CAGR of 3.6% during the forecast period.
Market Fundamentals
Generalized anxiety disorder is characterized by persistent and excessive worry and tension in day-to-day events and activities. The physical symptoms of a generalized anxiety disorder (GAD) include restlessness, edgy feeling, easy fatigue, difficulty concentrating, sleeping problems, and muscle tension. The persistent worry or tension in GAD focuses on day-to-day activities such as family and self-health, job responsibilities, and trivial activities such as chores, appointments, and so on. Antidepressants such as SSRIs and SNRIs are viewed as the first line of treatment for generalized anxiety disorder. Key SSRI drugs include paroxetine, sertraline, fluoxetine, and escitalopram. SSRIs can relieve anxiety and reduce the symptoms of depression that often come with anxiety. Other key drugs used for GAD treatment are benzodiazepines, buspirone, etc.
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Market Dynamic
Globally, the prevalence of anxiety and mental health disorders has been increasing in both adults and children. Due to the resultant loss of work, and implications on lifestyle and social participation, the socioeconomic burden of mental health issues shall continue to grow This has urged several governments to take initiatives toward reducing the burden of anxiety disorders & mental illnesses, and pharmaceutical manufacturers are intensifying their efforts toward the rapid commercialization of therapies for anxiety disorders and depression. Television shows, podcasts, social media, and open conversations, along with a multitude of clinical research, have all contributed to a positive shift in the conversation and awareness of mental health. Many promising drugs in the pipeline for anxiety disorder and generalized anxiety disorder are an opportunity for the global generalized anxiety disorder therapeutics market growth.
One of the major challenges for the global generalized anxiety disorder therapeutics market is the low rate of diagnosis of generalized anxiety disorder due to a lack of suitable diagnostic tests.
Market Ecosystem
The global generalized anxiety disorder therapeutics market has been analyzed from three perspectives: drug class, distribution channel, and region.
Generalized Anxiety disorder therapeutics Market by Drug Class
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Based on drug class, the global generalized anxiety disorder therapeutics market is subdivided into, antidepressants, azapirones, benzodiazepines, and others. The antidepressant drugs are further subcategorized into selective serotonin reuptake inhibitors (SSRIs), selective norepinephrine reuptake inhibitors (SNRIs), and others. The antidepressants segment dominated the generalized anxiety disorder therapeutics market owing to the drug’s better efficacy, thus resulting in reducing the symptoms of anxiety and related other mental illnesses. Many antidepressants such as selective serotonin reuptake inhibitors have been proven to reduce symptoms of generalized anxiety disorders and are considered in the first line of treatment.
Generalized Anxiety Disorder Therapeutics Market by Distribution Channel
Based on the distribution channel, the global generalized anxiety disorder therapeutics market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment currently dominates the distribution channel basis for the generalized anxiety disorder therapeutics market. The large footfall of patients in the hospital for diagnosis and admissions in some cases of comorbidity increases the sale of drugs.
Generalized Anxiety disorder therapeutics Market by Region
Based on region, the global Generalized Anxiety disorder therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Due to the rising prevalence of anxiety disorders and increased public awareness of anxiety, North America holds a dominant position in the global market for generalized anxiety disorder therapeutics, and it is predicted to maintain its lead position during the forecast period as well. The region's market is also being driven by the existence of numerous important firms that are engaged in the production of medications for the treatment of generalized anxiety disorder. Many drugs are being approved by U.S. FDA in the last few years and many of the drugs are under clinical trials. Additionally, there has been a constant supportive initiative taken by the U.S. government to tackle mental health in this region.
Competitive Landscape
Some of the prominent players operating in the global generalized anxiety disorder therapeutics market are: -
Strategic Developments
The global generalized anxiety disorder therapeutics market is expected to grow at a CAGR of 3.6% in the forecast period.
AbbVie, GSK PLC, and Genentech are a few key players in the global generalized anxiety disorder therapeutics market.
The antidepressant drugs segment dominates the global generalized anxiety disorder therapeutics market.
Asia Pacific region is expected to witness the highest global generalized anxiety disorder therapeutics market growth in the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain