Global Agoraphobia Market to Reach USD 1,629.60 Million by 2031 | CAGR of 5.7%
Category : Pharmaceuticals | Published Date : Nov 2024 | Type : Press Release
Agoraphobia Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Agoraphobia Market size was valued at USD 1,053.09 million in 2023 and is projected to grow at a CAGR of 5.7%, reaching USD 1,629.60 million by 2031. Agoraphobia is a mental health condition characterized by intense fear and avoidance of places or situations where escape may feel difficult or where help may not be readily available. Treatments include medications such as SSRIs (Selective Serotonin Reuptake Inhibitors), Cognitive Behavioral Therapy (CBT), and innovative approaches like Virtual Reality Therapy (VRT). The market is experiencing growth driven by increasing mental health awareness and technological advancements in therapy methods.
The report comprises the Agoraphobia Market Share, Size & Industry Analysis, based on Type (Fear of Public Transportation, Fear of Enclosed Spaces, Fear of Crowds, Fear of Open Spaces, Others), Treatment (Selective Serotonin Reuptake Inhibitors (SSRI), Norepinephrine Reuptake Inhibitors, Cognitive Behavioral Therapy (CBT), Virtual Reality Therapy, Others), End-User (Hospitals, Clinics, Rehabilitation Centers, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Agoraphobia Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing urbanization, rising mental health awareness, and the integration of innovative therapies like VR are key drivers of market growth.
Segmental Analysis :
Based on type, the market is segmented into Fear of Public Transportation, Fear of Enclosed Spaces, Fear of Crowds, Fear of Open Spaces, and Others.
- The fear of public transportation segment accounted for the largest share in 2023, driven by its high prevalence due to urbanization and reliance on public transit systems in densely populated areas.
- The fear of open spaces segment is projected to grow at the fastest rate, fueled by the rising prevalence of this condition in urban and socially dynamic settings.
Based on treatment, the market is segmented into Selective Serotonin Reuptake Inhibitors (SSRI), Norepinephrine Reuptake Inhibitors, Cognitive Behavioral Therapy (CBT), Virtual Reality Therapy, and Others.
- The SSRI segment held the largest share in 2023, supported by its proven efficacy and broad application in treating anxiety-related symptoms.
- The Virtual Reality Therapy (VRT) segment is anticipated to grow at the fastest CAGR, driven by its innovative approach in providing controlled exposure therapy in virtual environments.
Based on end-user, the market is segmented into Hospitals, Clinics, Rehabilitation Centers, and Others.
- The hospitals segment dominated the market in 2023 due to their comprehensive mental health facilities and adoption of telemedicine services.
- The clinics segment is expected to grow rapidly, fueled by the increasing availability of specialized mental health services and funding for community-based care centers.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- North America: Held the largest market share in 2023, driven by robust healthcare infrastructure, high prevalence of mental health disorders, and government initiatives to improve mental health services.
- Asia-Pacific: Expected to grow at the fastest CAGR, supported by increasing awareness of mental health issues, urbanization, and advancements in healthcare infrastructure.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 1,629.60 Million |
| CAGR (2024-2031) | 5.7% |
| Type | Fear of Public Transportation, Fear of Enclosed Spaces, Fear of Crowds, Fear of Open Spaces, Others |
| Treatment | SSRI, Norepinephrine Reuptake Inhibitors, CBT, Virtual Reality Therapy, Others |
| End-User | Hospitals, Clinics, Rehabilitation Centers, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Agoraphobia Industry:
- Eli Lilly & Company (United States)
- GlaxoSmithKline plc. (United Kingdom)
- Pfizer Inc. (United States)
- Apotex Inc (Canada)
- Sandoz Group AG (Switzerland)
- Viatris Inc (United States)
- Takeda Pharmaceutical Company Ltd (Japan)
- AstraZeneca (United Kingdom)
- H. Lundbeck A/S (Denmark)
- Merck & Co., Inc. (United States)
Recent Industry Developments :
- June 2024: Strides Pharma Science received FDA approval for Fluoxetine Tabs, a widely used SSRI for agoraphobia treatment.
- November 2023: Virtual Reality therapy for agoraphobia was approved for use in the UK's National Health System, promoting non-invasive mental health interventions.
- April 2024: The U.S. Department of Health and Human Services expanded its Certified Community Behavioral Health Clinics program, improving access to mental health care.
