Generalized Anxiety Disorder Global Market Report 2024

The global generalized anxiety disorder market has grown steadily in recent years. It will grow from $7.51 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to mental health awareness, pharmaceutical advances, cognitive-behavioral therapy (cbt), stressful lifestyle changes.

The global generalized anxiety disorder market is expected to see steady growth in the next few years. It will grow to $8.89 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to digital mental health solutions, genetic research, integrated care models, global mental health awareness. Major trends in the forecast period include holistic approaches, cultural competence, early intervention, artificial intelligence (ai) in diagnosis.

The increasing incidence of mental disorders within the healthcare sector is fueling the growth of the generalized anxiety disorder market. Mental disorders, also known as mental illnesses, encompass a broad spectrum of conditions that impact an individual's thoughts, emotions, behaviors, and overall mental well-being. Generalized anxiety disorder often co-occurs with other mental health conditions, including phobias, panic disorder, post-traumatic stress disorder (PTSD), and obsessive-compulsive disorder (OCD). Effectively managing these coexisting conditions is vital for individuals to maintain healthy relationships and enhance their overall quality of life. As an illustration, in April 2023, Forbes Media LLC, a US-based media company, reported that in 2020, 21% of U.S. adults (equivalent to 52.9 million individuals) reported experiencing mental illness. Furthermore, data from the National Alliance on Mental Illness, a US-based non-profit organization, in March 2023, indicated that 22.8% of U.S. adults (approximately 57.8 million people) had experienced mental illness in 2021, representing an increase from previous years. Hence, the rising prevalence of mental disorder cases is poised to drive the growth of the generalized anxiety disorder market.

The expansion of government initiatives is propelling the growth of the generalized anxiety disorder market. Government initiatives encompass strategic plans or actions undertaken by governmental authorities to address specific problems or issues, often financed through various means, including taxes, grants, and donations. Within the context of generalized anxiety disorder (GAD), these initiatives play a pivotal role by funding research aimed at enhancing the understanding of GAD's causes and treatment methods, as well as developing innovative and more effective approaches to assist individuals dealing with this condition. For example, in March 2022, the Department of Health and Human Services (HHS), a US-based provider of essential human services, announced funding opportunities totaling nearly $35 million to enhance and expand community mental health services and suicide prevention programs for children and young people across the United States. Consequently, the growing government initiatives are expected to drive the growth of the generalized anxiety disorder market.

The restricted availability of mental health services is posing obstacles to the expansion of the generalized anxiety disorder market during the forecast period. Individuals grappling with GAD may encounter challenges in obtaining timely and comprehensive care when mental health services are not readily accessible. This limited access can result in delayed diagnosis and treatment, exacerbating symptoms and increasing the burden on affected individuals. For instance, data from the House of Commons, a UK-based government body, in March 2023, revealed that in the years 2021-2022, it is anticipated that 3.25 million individuals will have engaged with these services. This figure represents merely 5.8% of the population, with variations ranging from 2.7% of 65- to 69-year-olds to 14.8% of 11 to 15-year-olds and 13.9% of 16 to 19-year-olds. Therefore, the limited availability of mental health services is impeding the growth of the generalized anxiety disorder market.

Key players in the generalized anxiety disorder market are actively engaged in the development of innovative medications, such as MM-120, and securing approvals for the treatment of generalized anxiety disorder, thus better catering to the needs of their existing clientele. Innovative drugs like MM-120 aim to enhance the management and outcomes of this mental health condition. For example, in January 2022, Mind Medicine Inc., a US-based biotech company specializing in psychedelic medicine, obtained approval for an Investigational New Drug (IND) application from the U.S. Food and Drug Administration (FDA). This milestone enables the company to advance its phase IIb dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder (GAD). MM-120 is a small molecule acting as a partial agonist of the 5-HT2A receptor, which plays a role in mood regulation, anxiety, and perception. Furthermore, MM-120 is believed to function by elevating serotonin levels in the brain, opening the door for the development of other psychedelic compounds to address mental health disorders.

In July 2023, Big Health, a US-based digital therapeutics company, successfully acquired Limbix Health Inc. for an undisclosed sum. This strategic move by Big Health is aimed at uniting the strengths and resources of both companies to advance the development and delivery of more effective digital therapeutics for mental health conditions. Limbix Health Inc. is a US-based digital therapeutics platform that provides mental health treatment for young individuals dealing with depression, anxiety, and other mental health ailments.

Major players in the generalized anxiety disorder market are Alkermes PLC, Pfizer Inc., F. Hoffmann-La Roche AG, Sanofi SA, Bristol-Myers Squibb, GlaxoSmithKline PLC, AstraZeneca PLC, Abbott Laboratories, 3M Company, Boehringer Ingelheim International GmbH, Johnson And Johnson Private Limited, Adobe Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Otsuka Holdings Co. Ltd., Mylan N.V., Sumitomo Pharma Co. Ltd., Jazz Pharmaceuticals PLC, Forest Laboratories Inc., H. Lundbeck A/S, Shionogi and Company, Neurocrine Biosciences Inc., Actavis Pharmaceutical Company, Eli Lilly and Company, Noven Pharmaceuticals Inc., Mind Medicine Inc., Sage Therapeutics Inc., Bionomics Ltd., Recordati Rare Diseases SARL, VistaGen Therapeutics Inc.

North America was the largest region in the generalized anxiety disorder market in 2023. The regions covered in generalized anxiety disorder report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the generalized anxiety disorder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The generalized anxiety disorder can manifest in various forms, including panic disorder, agoraphobia, generalized anxiety, social anxiety, specific phobia, and other variations. Panic disorder characterizes a mental health condition marked by recurring and unexpected episodes of intense fear and discomfort, known as panic attacks. These conditions can be effectively addressed through a range of therapeutic approaches, such as interpersonal therapy, behavior therapy, cognitive behavioral therapy, and mindfulness-based cognitive therapy, and can involve the use of diverse medical devices, including deep brain stimulation, electroconvulsive therapy, transcranial magnetic stimulation, and vagus nerve stimulation. These treatments are administered in diverse healthcare settings, including hospitals, home care, specialty clinics, and other healthcare facilities.

This report provides generalized anxiety disorder market statistics, including generalized anxiety disorder industry global market size, regional shares, competitors with a generalized anxiety disorder market share, detailed generalized anxiety disorder market segments, market trends and opportunities and any further data you may need to thrive in the generalized anxiety disorder industry. This generalized anxiety disorder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The generalized anxiety disorder market consists of revenues earned by entities by providing services such as exposure therapy, supportive psychotherapy, relaxation therapies, group therapy, stress management and self-care practices. The market value includes the value of related goods sold by the service provider or included within the service offering. The generalized anxiety disorder market also includes sales of pregabalin, hydroxyzine, beta-blockers, atypical antipsychotics and alprazolam. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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