Improving Treatment Seeking Rate would Drive the Growth of Post-traumatic Stress Disorder Therapy Market
Meridian Market Consultants (MMC) has published a new report titled, “Post Traumatic Stress Disorder Therapy Market: Opportunity Analysis and Future Assessment 2019 to 2027”
Global Post Traumatic Stress Disorder Therapy Market, by Therapy Type (Psychotherapy-Cognitive Behavioral Therapy, Exposure Therapy, Eye movement desensitisation & reprocessing; Medication), By distribution channels (Hospitals, Clinics, Rehabilitation Centers, others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2019 and 2027.
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As per the report, incidence of trauma and improving treatment seeking rates for post-traumatic stress disorder are expected to be prime factors driving growth of the market. People who have suffered abuse as children or who have had other previous traumatic experiences are more likely to develop. According to the Alcohol, Drug Addiction and Mental Health Services (ADAMHS) Board PTSD affects 3.5% of U.S. adults, and approximately 8 million people in the U.S. are suffering from PTSD. Around 37% of these patients show severe symptoms. Rates of PTSD are found to be higher in women than in men. As per National Institute of Mental Health (NIMH) study women are four times more likely to develop PTSD than men. The lifetime prevalence of PTSD ranges from 6.1 to 9.2 percent in national samples of the general adult population in the United States and Canada, with one-year prevalence rates of 3.5 to 4.7 percent. A World Health Organization study found a lifetime prevalence of PTSD in upper-middle income and lower-middle income countries of 2.3 and 2.1 percent respectively. About 30 percent of the men and women who have spent time in war zones experience PTSD.
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Furthermore, Meridian Market Consultants (MMC) Study identifies that, psychotherapy is expected to contribute highest market share in the post-traumatic stress disorder therapy market. Cognitive behavior therapy (CBT) is found to be the most effective psychotherapy for post-traumatic stress disorder. CBT for PTSD is trauma-focused, i.e. the trauma events are the center of the treatment. Trauma focused CBT is recommended for children and young adults. CBT treatments traditionally occur over 12 to 16 weeks. Eye movement desensitisation and reprocessing (EMDR) is a relatively new treatment which is found to relieve symptoms of PTSD. Medication with antidepressants is most commonly prescribed along with psychotherapy. Most commonly prescribed antidepressants for PTSD are paroxetine, mirtazapine, amitriptyline, paroxetine, phenelzine etc. Of these medications, only paroxetine and sertraline are licensed specifically for the treatment of PTSD. Antidepressants are also prescribed to reduce symptoms of depression, anxiety and sleeping problems. PTSD treatment helps regain a sense of control over patient’s life.
MMC Study identifies some of the key participating players in post-traumatic stress disorder therapy market globally are Actavis Pharma, Sanis Health Inc., Apotex Corporation, Glaxosmithkline Inc., Merck Ltd., Auro Pharma Inc., Sandoz Inc. (Novartis), Accord Healthcare Inc., Mylan Pharmaceuticals Inc., Par Pharmaceutical etc.
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