Antidepressant Drugs Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2505
Antidepressant Drugs Market size is projected to experience significant growth from 2018 to 2024.
Increasing stress levels, depression, elevated alcoholism and crime rates in the younger populations are foremost driving factors for increased use of antidepressant drugs. Tremendous diagnosis of cancer and tumor patients that increases the incidence of depression among cancer patients will potentially grow antidepressants market.
Growing geriatric population drives anti-depressants market. Elderly population is prone to suffer from subsyndromal depression. Financial hardships after retirement, chronic medical conditions, deaths of closed ones, limited mobility and isolation are some of the factors that further triggers depression drug market. Depression in older demographics is most common mental health issue.
An upsurge in the percentage of crimes such as sexual abuse, femicide and violence further drives the market growth. Drug innovation leading to decrease in the side effects from antidepressants drugs and new potential discoveries, will be an opportunity for anti-depressant drugs market.
Warning by the U.S. Food and Drug Administration, to assess the use of antidepressant drugs in children and adolescents in various countries can be a major restraint for the rise of anti-depressant drugs market. Besides this, increasing suicides, severity and side-effects and patent expiry of antidepressant drugs can hamper the growth.
Selective serotonin reuptake inhibitors (SSRI) of drug class segment is the leading segment due to its efficacy and safety. The ability of SSRI to reduce the side-effects is a contributing factor of increasing demand for SSRI segment of antidepressant drugs. SSRI demand increased amongst the younger population due to its mood revival effect and better academic performance.
Major depressive disorder is the greatest contributor towards the market growth as maximum people are commonly diagnosed with this disorder because of increased stress. Also, obsessive-compulsive disorder (OCD) is rapidly-growing segment due to changing lifestyle and quality of life.
An increase in prescription of antidepressants numbers to the patients can be attributed to patients suffering different depression disorders and long-term prescriptions by doctors. Hence the sale of depression drugs is expanding rapidly in pharmacies and retails due to online pharmacies and easy availability of antidepressant drugs in retail pharmacy channel.
U.S. drives the depression drugs market due to high presence of stress and depression factors. The count of children and adolescents prescribed to anti-depression drugs is on the peak in U.S. The number of people suffering from distress before and after the pregnancies in females is rising in U.S. However, this distress can be found in males as well. An elevated level of the disorders in adults suffering from stress, suicidal feelings, serious psychological disorders and anxiety has a huge potential to surge antidepressant drugs market in the U.S.
Asia Pacific, mainly led by China, Australia and Japan are predicted to depict a moderate growth on an account of various factors such as marketing approval for new medicines that can positively impact the depressant drugs market. Japan has the largest growing antidepressant drug market in Asia Pacific as a result of a large aging population in this region.
Some of the major industry players include Allergan, Alkermes, AstraZeneca, Bristol Myers Squibb Company, Eli Lilly And Company, Forest laboratories, GlaxoSmithKline, H. Lundbeck, Merck, Pfizer, Teva Pharmaceutical Industries and Takeda Pharmaceutical. The companies are adopting collaborative strategies to get an edge for manufacturing anti-depressants. For instance, Janssen Pharmaceuticals, has formed a research, license agreement and option with Amorsa Therapeutics for using its ketamine analog technology. By this collaboration, the companies are planning to develop new anti-depressants with rapid action for patients resistant to treatment for depression.
Antidepressant Drugs 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
Antidepressant Drugs Market by Disorders, 2013-2024 (USD Million)
- Major depressive disorder
- Obsessive-compulsive disorder
- Generalized anxiety disorder
- Panic disorder
Antidepressant Drugs 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
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