Post-Traumatic Stress Disorder Therapeutics Market is expected to grow at a compound annual growth rate of 5% for the forecast period of 2021 to 2029.
The increase has been primarily due to increase in violence incidents, accidents and occupational hazards. This report covers all the quantitative aspects of the Post- Traumatic Stress Disorder Therapeutics market and also talks about its key drivers, the challenges it faces, the growth opportunities present in the market, and its future prospects.
Antidepressants including SSRIs are among the first line of treatment for PTSD, dominated the global market in 2019 and projected to retain its dominance during the forecast period. North America dominated the PTSD therapeutics market with more than 50% of market share for the year 2019.
Higher awareness about healthcare and treatment among the general population, better rate of self-reporting are some macro factors contributing to the dominance of North America in the global market. Post-traumatic stress disorder (PTSD) is a vastly prevalent disorder but a rarely recognized syndrome that is characterized by some serious reactions such as fear, helplessness, and horror. According to the Diagnostic and Statistical Manual of Mental Disorders, PTSD is categorized as acute if symptoms are within three months of the trauma, and chronic if symptoms occur between three to six months of the trauma.
The market has been categorized and sub-categorized on the basis of Stage, Age-Specific, Products, End Users and geography. On basis of age- specific bifurcation, Post- traumatic stress disorder is fairly common in adolescents and young adults. According to estimates, 30-40% of children who have experienced sexual or physical abuse develop PTSD.
Post-Traumatic Stress Disorder Therapeutics Market: Drivers and Challenges
The rising prevalence of post-traumatic stress disorder is the primary driver of the global market for post-traumatic stress disorder medications. The rising prevalence of PTSD has been attributed to an increase in events such as wars, combats, and interpersonal violence. Also factor in the increase in demand for PTSD therapeutics was the emphasis on rehabilitation initiatives by government for treating their war veterans.
This market has faced challenges, primarily in developing newer treatments as well as developing appropriate support systems for patients. The severity of post-traumatic stress disorder is difficult to assess in the early stages, which creates a barrier to the widespread awareness of illness and the high cost of therapy is another important impediment to the expansion of the market for post-traumatic stress disorder treatment.
For example, the cost of treating PTSD varies from US$ 1.622 to US$4.552 a year in the US, according to the report published in the 2014 journal of Clinical Psychiatry. As a result, these factors are projected to limit the worldwide post-traumatic stress disorder treatment market's growth.
Post-Traumatic Stress Disorder Therapeutics Market: Markets and Key Player
The global Post- Traumatic Stress Disorder Therapeutics market was dominated by the United States. Furthermore, the presence of prominent players in the region, as well as the rapid approval of drugs, ensures North America's dominance.
Europe has been identified as the second largest market due to a growing patient pool, increased awareness about therapeutic availability and efficacy, and initiatives from government and non-government organizations to strengthen and develop healthcare infrastructure, as well as a favorable reimbursement system. Because of the lack of diagnosis and the seriousness of mental problems in the general public, PTSD awareness in Asia Pacific is lower than in North America and Europe.
Major players of Post-Traumatic Stress Disorder Therapeutics Market are Novartis AG, Pfizer, Bionomics Ltd., Apotex Inc., GlaxoSmithKline plc, and Otsuka Pharmaceutical Co. Ltd. Industry leaders are targeting on developing Research and Development activities, new product launches.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2029.
Report Scope by Segments
Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.
Key questions answered in this report
What are the current market trends in the post-traumatic stress disorder therapeutics market and valued opportunities for the players?
How the regulatory framework affects the global as well as the regional markets?
Which is the prominent drug class in PTSD treatment market?
How does the FDA approval of products affect the global market?
What are the trend and market size in emerging markets such as Japan, Mexico, and Brazil?
Which is the largest and fastest growing regional market?
Which is the largest segment by drug class in the post-traumatic stress disorder therapeutics market?
Which is the fastest growing segment by drug class in the post-traumatic stress disorder therapeutics market?
Market assessment in terms of value.
Analysis of market strategies and competitive landscapes.
Key Topics Covered:
Chapter 2.Executive Summary
Chapter 3. Post-Traumatic Stress Disorder Therapeutics Market: Market Dynamics and Future Outlook 3.1. Market Overview 3.2. Current Scenario: New Product Launches, Increase in Animal Free Testing 3.3. Drivers 3.4. Challenges 3.5. Opportunities 3.7. Attractive Investment Proposition, by Geography, 2020 3.7. Competitive Landscape (Key Players)
Chapter 4. Post-Traumatic Stress Disorder Therapeutics Market, By Stage, 2019 - 2029 (US$ Mn) 4.1. Overview 4.2. Impact or Emergency Stage 4.3. Denial Stage 4.4. Short Term Recovery Stage 4.5. Long Term Recovery Stage
Chapter 5. Post-Traumatic Stress Disorder Therapeutics Market, By Age Specific, 2019 - 2029 (US$ Mn) 5.1. Overview 5.2. Adults 5.3. Children
Chapter 6. Post-Traumatic Stress Disorder Therapeutics Market, By Product, 2019 - 2029 (US$ Mn) 6.1. Overview 6.2. Antidepressants 6.3. Anti-anxiety Drugs 6.4. Other Drug Classes 6.5. Pipeline Candidates (Qualitative Information)
Chapter 7. Post-Traumatic Stress Disorder Therapeutics Market, By Type of End User, 2019 - 2029 (US$ Mn) 7.1. Overview 7.2. Hospitals 7.3. Clinics 7.4. Others