Antidepressant Drugs Market Size, COVID19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2505
Antidepressant Drugs Market size will show considerable growth from 2021 to 2027 on account of increasing stress levels along with the emergence of novel techniques that help in the development of drugs with limited side effects and long-term results. The rising prevalence of mental disorders, including social anxiety and depression, has led to a surge in awareness pertaining to the diseases and their required clinical needs. The growing acceptance of novel medications can also be considered an ideal factor fueling the adoption of antidepressant drugs.
According to a fact sheet published by WHO (World Health Organization) in January 2020, over 264 million people of all ages suffer from depression globally. Expanding geriatric population prone to subsyndromal depression, higher crime rates among the youth, increasing prevalence of depression in cancer patients is also likely to add impetus in shaping the growth curve of the market.
Antidepressants are mainly medications that are consumed to help relieve symptoms of anxiety disorders, depression dysthymia as well as social anxiety and seasonal affective disorders. They are also effective in correcting the chemical imbalances of neurotransmitters within the brain that are responsible for mood and behavior changes. Major depressive disorder is another great contributor for augmenting the market growth led by its rising prevalence due to increased stress.
However, the higher inclination towards non-pharmacological therapies, as well as the poor efficacies and safety profiles of drugs, may restrain the market expansion to some extent.
In terms of regional segmentation, U.S. is set to dominate the North America antidepressant drugs market with the increasing prevalence of stress and depression factors. According to the Anxiety and Depression Association of America, over 40 million adults in the U.S. suffer from anxiety disorders per year.
Likewise, more than 7.7 million people in the region are affected by Post-traumatic Stress Disorder (POSD) annually. There is also a noticeable rise in distress before and post pregnancies among females along with higher levels of stress among the male population. The higher instances of depression and a strong presence of adequate reimbursement policies will also compliment the antidepressant drug penetration in the country.
The antidepressant drugs market revenue is driven by the presence of significant business players, inclusive of Forest laboratories (Allergan), Eli Lilly And Company, Bristol Myers Squibb Company, AstraZeneca, Alkermes, Pfizer, Allergan (AbbVie), Teva Pharmaceutical Industries, H. Lundbeck, and GlaxoSmithKline (Hindustan Unilever Ltd.).
These firms are continuously focused on undertaking persistent efforts for collaborations, like partnerships and acquisitions, for portfolio expansion whilst increasing their presence in the competitive market landscape.
To state an instance, in March 2021, Merck & Co, worked alongside Novamind, a mental health company, to develop clinical trials that are based on treatment-resistant depression (TRD).
Similarly, in September 2019, Takeda Pharmaceutical, and Lundbeck announced the MHLW (Ministry of Health, Labor and Welfare) approval of Trintellix across Japan. The novelty is used in the treatment of depression and depressed states of the affected individuals.
Impact of COVID-19 on antidepressant drugs market trends
The ongoing COVID-19 pandemic drew a groundbreaking impact on the global economy driven by the regulation of complete lockdown and social distancing norms across various countries, besides tampering with the everyday routine of the people. This paved the path for varying degrees of fear, concern, and worry, gradually causing a blow on the mental health of individuals.
However, these determinants are acting like a big booster to the sales of depression drugs in the outbreak as people suffering from mental health problems are experiencing higher levels of stress.
The increasing number of cases and the rising mortality rate is further instigating roadblocks to mental health by elevating the degree of anxieties, in turn triggering the demand for antidepressant drugs.
The market research report on antidepressant drugs includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:
Market by Drug Class, 2013-2024 (USD Million)
- Monoamine oxidase inhibitors
- Serotonin antagonist and reuptake inhibitors
- Serotonin-norepinephrine reuptake inhibitors
- Selective serotonin reuptake inhibitors
- Tricyclic antidepressants
Market by Disorders, 2013-2024 (USD Million)
- Major depressive disorder
- Obsessive-compulsive disorder
- Generalized anxiety disorder
- Panic disorder
Market by Distribution Channels, 2013-2024 (USD Million)
- Hospitals and clinics
- Retail pharmacies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- South Africa
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability