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Due to awareness, lifestyle changes, and stress-related diseases, agoraphobia prevalence is rising worldwide, driving need for treatment.
Advanced diagnostic techniques including online screening tests and telemedicine consultations are helping diagnose agoraphobia early, increasing market acceptance and treatment.
Pharmacotherapy is an adjuvant or secondary treatment for agoraphobia, whereas psychotherapy, especially CBT, dominates the market.
Novel agoraphobia therapies such SSRIs, SNRIs, and benzodiazepines are being developed, increasing market growth.
Helping agoraphobics get mental health care, telepsychiatry services that allow online talks and treatment are growing the business.
Fighting the shame and misunderstanding surrounding mental illnesses like agoraphobia through campaigns and lobbying activities is inspiring more people to seek therapy, increasing the need for psychological intervention. Since agoraphobia often happens along with panic disorder and generalized anxiety disorder, market solutions focus on ways that use more than one method.
Digital therapies like smartphone apps and online self-help programs for agoraphobia management are expanding treatment choices and boosting market development.
Drug approval and commercialization regulations for agoraphobia affect market dynamics and product innovation, affecting market growth.
Healthcare providers are personalizing agoraphobia treatment regimens to particular patient requirements and preferences, improving market accessibility and growth.
Market growth is driven by patients' use of holistic treatments such mindfulness-based interventions, yoga, and relaxation methods for agoraphobia therapy.
VR therapy for agoraphobia, which provides exposure therapy in a controlled and immersive environment, is driving industry innovation and increasing treatment results.
Multidisciplinary teams of psychiatrists, psychologists, and social workers are improving agoraphobia management and boosting market development.
Insurance coverage for mental health therapies, including agoraphobia therapy, is increasing cost and availability, boosting psychotherapeutic and pharmaceutical demand.
Community support groups and helplines for agoraphobia management are eliminating treatment hurdles and stigma, helping the market flourish.
Agoraphobia Market Highlights:
Agoraphobia Market Overview
The Agoraphobia market is projected to reach USD 1,682.8 Million by 2030 at 6.9% CAGR during the forecast period 2022-2030.
Agoraphobia is the fear of places or situations that causes panic behaviour with a feeling of being trapped or helpless. The situation may be actual or anticipated such as using public transportation, being in open or enclosed spaces or being in a crowded place. Signs and symptoms of a panic attack in agoraphobia are rapid heart rate, trouble breathing, chest pain, dizziness, excessive sweating, feeling of loss of control and fear of dying etc. Agoraphobia is primarily caused by a combination of genetic and environmental factors. Other conditions include separation anxiety, posttraumatic stress and depression. Agoraphobia patients are at a higher risk of depression and substance use disorder. Agoraphobia is prevalent in about 1.7% of adults with women having a greater propensity to be affected by the disorder.
The market for agoraphobia diagnosis and treatment is driven by factors such as growing prevalence of stress, genetic predisposition, sedentary lifestyles, deteriorating health standards in the contemporary lifestyles, substance abuse, lack of intimacy in relations, increasing awareness and screening etc. The agoraphobia market restraints are social stigma regarding psychotherapy, low focus and penetration of mental health in society, tendency to hide mental disorders and reluctance to therapy and treatment etc.
Cognitive behavioural therapy is the leading psychotherapy for agoraphobia. Cognitive behavioural therapy focuses on teaching skills to better tolerate anxiety, challenging your worries and anticipating most probable and realistic effects of the situation or place. Exposure therapy focus on increasing exposure to places which trigger a panic attack and to cope and tolerate symptoms of agoraphobia. Desensitization caused by exposure therapy results in habituation which improves the condition.
The therapist helps the patient to understand thought patterns and false beliefs or attitudes which raises anxiety with an aim to change ways of thinking and to make thought patterns more realistic and helpful. Selective serotonin reuptake inhibitors such as fluoxetine and sertraline are the standard drug therapy for the treatment of panic disorder in agoraphobia. Anti-anxiety drugs called benzodiazepines are used as or to relieve acute anxiety as they are habit-forming. Dietary supplements and alternative medicines such as kava kava have been tried and have found to be useful. However, kava kava has been reports of serious liver damage. The Food and Drug Administration has issued warnings and thus kava kava should be avoided if liver problems exists.
Figure 1 Global Agoraphobia market by Surgery, 2016 (% Market Share)
Agoraphobia Market Segmentation
The global agoraphobia market is segmented on the basis of drug treatment, therapy and end users.
Based on drug treatment, the agoraphobia market has been segmented as selective serotonin reuptake inhibitors, norepinephrine reuptake inhibitors, tricyclic antidepressants, anti-anxiety medications and others.
Based on the therapy, the market has been segmented as psychotherapy, cognitive behavioral therapy (CBT), exposure therapy and others. Based on the end users, the market has been segmented as hospitals, clinics, academics and others.
Agoraphobia Market Regional Analysis
US accounts for the maximum market share due to favorable insurance penetration, excellent reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology and devices in the US is also an important driver of the market for global agoraphobia diagnosis and treatment. Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region agoraphobia market is expected to have the most future potential and it is estimated to be led by China and India. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The regions of Africa are expected to witness a moderate growth due to poor economic and political conditions and poor healthcare penetration.
Key Players of Global Agoraphobia Market
Key players profiled in the agoraphobia market report are:
- Eli Lilly & Co.,
- Bristol-Myers Squibb,
- AstraZeneca,
- Pfizer inc,
- GlaxoSmithKline plc,
- Johnson & Johnson,
- Sandoz Inc.,
- Apotex Corp.,
- Mylan Pharmaceuticals Inc.
The report for Global agoraphobia market by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different agoraphobia market segments and regions.
Intended Audience
- Global Agoraphobia diagnosis and treatment solutions, manufacturers & suppliers
- Research and development (R&D) companies
- Hospitals and clinics
- Academic institutes and universities
Sources: Mayo Clinic, MRFR Analysis.
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