I think there could certainly be a genetic link; things less obvious like alchoholism are genetic as well, and a whole host of diseases are. Though a panic attack can be considered more behavioral, as the previous poster said, there is a possible link to brain patterns.
There are many homeopathic and psychological ways to treat panic attacks without medication. Meditation, therapy, self-help books, and just generally learning what sets off your attacks and slowly learning to deal with these situations can all help. A repeatable mantra to say during or leading into an attack can help relax your mind and focus it on something aside from the thought or situation that is triggering the attack.