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Panic disorder can certainly lead to depression! If panic gets too frequent/severe, and starts actually hindered you from doing the things you want to do and living the life you want to live - that can become VERY depressing.
i copletely agree and know from personal experience. i actually thought for a long time that i was just a depressive, but working with doctors i was able to figure out that it was anxiety episodes first which led to being depressed over the consequences
Yes, I definately became depressed when the anxiety hit me hard and I could no longer do the things I wanted to do. The doctors would tell me its depression causing the anxiety and they wanted to treat me for depression. NO !!!, the anxiety is whats causing the depression !!! How could they not see that???
From everything I have read depression is the most common side affect of untreated anxiety and panic attacks. Dr Richards who has a great CBT program also says this. Unfortunately many doctors think its the other way which I can not understand.