For the year 2021, the Post-Traumatic Stress Disorder Therapeutics Market is expected to reach USD 990.07 million and grow at a compound annual growth rate of 5.0% for the projected period. The increase has been primarily due to increase in violence incidents, accidents and occupational hazards.
Post-traumatic stress disorder is a widespread but rarely recognized syndrome. It causes severe reactions like fear, helplessness and horror.Post-traumatic stress disorder is a mental health condition that is triggered by either experiencing or witnessing a terrifying event. The order affects individuals in different ways. Some develop symptoms immediately following a traumatic experience while others may take years to develop the characteristic symptoms. Current treatments for PTSD include electroconvulsive therapy (ECT), hypnotherapy, and stress management education. In addition to traditional pharmacologic therapies, some experts recommend environmental factors such as exposure to triggers and support systems that help offset perceived personal risk. The number of people who develop PTSD as a result of those traumas is small – only 7 to 8 percent – but those affected may argue that PTSD is a misunderstood, difficult condition that severely impairs their quality of life. The Post- traumatic stress disorder therapeutics market is currently dominated by Novartis AG,Pfizer, Bionomics Ltd.,Apotex Inc., GlaxoSmithKline plc, and Otsuka Pharmaceutical Co. Ltd.
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Market Insights
The Post- traumatic stress disorder therapeutics market is driven by the prevalence of post-traumatic stress disorder. The rising prevalence of PTSD has been attributed to an increase in events such as wars, combats, and interpersonal violence.According to Post- traumatic stress disorder United, one out of every eight women develops PTSD in their lifetime, making females twice as likely as males.In the United States, approximately 10% of women develop PTSD at some point in their lives, whereas 4% of men suffer from PTSD.
This market has faced challenges, primarily in developing newer treatments as well as developing appropriate support systems for patients. Significant impediment to expanding the market of post-traumatic stress disease treatment is the severity of a post-traumatic stress disorder, which is difficult to assess in an early stage and cost of therapy is high too. Paramount to a death or permanent disability, patients with persistent PTSD often adapt their routines to avoid triggers and situations that might re- trigger the trauma. This leads to disruption in daily life which can negatively affect patients' quality of life, productivity, relationships and even ability to function at work or school.Therefore, there is a pressing need to design and deploy minimally invasive therapies which can effectively reduce initial vulnerability to stress-related complications in populations who have sustained severe injury or developed chronic pain syndromes following exposure to combat risk or natural disasters.
North America has been at the forefront of Post- traumatic stress disorder therapeutics market. The region's dominance was owed to presence of prominent players in the region, as well as the rapid approval of drugs. Roughly 7.8% of Americans have PTSD at some point in their lives, with women (10.4%) twice the chance of developing PTSD compared with men (5%). In 2017, around 5.2 million adults aged between 18 and 54 in the United States had PTSD. At least one traumatic event has occurred in 60.7 percent of men and 51.2 percent of women in the US. Violence, physical attacks, exposure to combat, sexual molestation and physical abuse for children are the most common cases of trauma associated with PTSD.
North America currently drives the global market and projected to hold its supremacy throughout the forecast period. However, Europe will be clearly challenged by the Asia Pacific by end of the forecast period. The need for post-traumatic stress disorder therapeutics drugs has become prominent in the Asia Pacific because of rapidly increasing events such as sexual assault, combats and inter-personal violence. There are massive chances for market penetration in countries like China, and India by the market leaders who at present have a stronghold in developed countries.
