According to the report analysis, ‘Phobia Global Clinical Trials Review, H1, 2018’ suggests that some of the major companies which are currently functioning in the this sector for doing well in the favor of people for reducing the problems related to the phobia which includes GlaxoSmithKline, Plc Pfizer Inc, Eli Lilly and Co., Mylan NV, The Lundbeck Foundation, Torrent Pharmaceuticals Ltd, Synthon Holdings BV, Syneos Health Inc, Dexcel PT, Holdings Ltd, Allergan Plc and others. Not only has this, many more companies and centers are working in this sector globally for reducing the problem of anxiety disorders such as Johnson & Johnson, National Cancer Center, Merck & Co., GE Healthcare, European Organization for research and Treatment of Cancer, Dana-Farber Cancer Institute, Case Comprehensive Cancer Center, Wyeth Pharmaceuticals Inc., and others. Therefore, for reducing the problem of phobia more and more companies and organizations are working with more innovative ideas, improved technologies and new investment plans which resulted in the growth of the market and the organizations have become more active in developing vaccinations for the phobia.
Phobia is an extreme or irrational fear or dislike of a specified thing or group or a version of something. It is a type of anxiety disorder, define by an excessive fear of an object or situation. The most common are fear of spider, fear of heights, fear of snakes and others. Phobia can be divided into social phobia, specific phobia, and agoraphobia. Moreover, with blood or injury phobia, may occurs fainting. If the feared material or anything cannot be keep away, the affected person encounters significant distress. Anxiety disorders are different, but the people often experience the similar symptoms such as nervous, sleeping problem and others. In United States the problem of phobia is much prevalent. Anxiety disorders and depression are common psychiatric disorders that affect a large number of people during their lifetime. Moreover, medication with psychotherapy are the best therapy medical approach for patients endure from depression and anxiety disorders. As with increase in the work load, stressful experience, a frightening event results the phobia geographically.
Recent developments, clinical research, geographical expansion of market and enhanced distribution channels and network are the key strategies adopted by the key participants. Geographically, the global anxiety disorders treatment market is split into the Asia-Pacific region, Europe, North America, Middle East and Africa, and Central and South America. In the forecast period, Asia-Pacific region will register profitable growth owing to increasing disposable income of individuals and increasing in the significant demand of medicines from getting rid of phobia or anxiety disorders. Whereas, North America will account largest market share followed by U.S. due to the presence of numerous identified formulations influencing the market dynamics significantly. This segment dominated the market due to the presence of its large patient population affected with various types of phobia.
The major key players in this market will benefit from the improving distribution network in the rising economies along with the development of herbal remedies. Therefore, the industry players are adopting competitive strategies, such as merger & acquisitions, new product development, research & development partnerships to develop a constructive treatment of anxiety disorder. Therefore, the future of this industry is expected to be bright in the near future.
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Ankur Gupta, Head Marketing & Communications