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Greater Prevalence of Anxiety & Depressive Disorders Driving Demand for New Anti-Anxiety Drug Candidates

PR Newswire - Mon Nov 14, 2022

PALM BEACH, FL, Nov. 14, 2022 /PRNewswire/ -- News Commentary - Anti-anxiety drugs are medications that are used to treat anxiety disorders that are mainly used to relieve anxiety and tension, work by reducing the symptoms of anxiety, such as fear, stress, and panic attacks. A report from PS Market Research projected that the global market for anxiety and depression treatment products is projected to progress at a CAGR of 3.3% through 2030. It said the major factors responsible for the growth of the market include growing geriatric population, rising awareness about mental diseases and their treatment, and increasing number of product approvals.  The report said: "With the growing age, individuals go through a number of stress conditions. Some of which are common to all age groups, while some are old-age specific such as loss in capabilities to function properly. In addition, the elder people experience reduced socioeconomic status with retirement, which worsen the situation as it leads to isolation and loneliness. Thus, the older people are more vulnerable toward mental disorders, such as anxiety and depression. Thus, the rising cases of anxiety and depression in elderly population, across the world, would help the anxiety and depression treatment market growth.  The awareness about mental diseases has increased across the world, owing to the increased initiatives taken by private and public healthcare institutions… In recent years, the players in the anxiety and depression treatment industry have indulged themselves in more product launches to offer a better product portfolio than other competitors."  Active biotech and pharma companies in the markets this week include Marvel Biosciences Corp. (TSX-V: MRVL), Sage Therapeutics, Inc. (NASDAQ: SAGE), Minerva Neurosciences, Inc. (NASDAQ: NERV), atai Life Sciences N.V. (NASDAQ: ATAI), Cybin Inc. (NYSE: CYBN) (NEO: CYBN).


Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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