The Global Antidepressant Drugs Market is Expected to Witness a CAGR of 2.2% to Reach Revenue of $14,887.3 Million by 2024
Bangalore, India, September 28, 2018: With its recently published study “Antidepressant Drugs Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024”, Infoholic Research forecasts that the global market for antidepressant drugs will grow, owing to the growing aging population and increasing prevalence of depression. Supportive initiatives from the government & other organizations and increasing clinical trials are providing an opportunity for the growth of the antidepressant drugs market.
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At the global level, over 300 million people are estimated to suffer from depression, which is equivalent to 4.4% of the world’s total population. The diagnosis of depression is possible only when the signs exist for a minimum of two weeks. Even though there are branded, effective treatments available for depression, just less than 10% of the affected people are treated. The challenges for effective care include lack of capitals, unavailability of qualified health-care providers, and public stigma associated with mental disorders. Along with these, imprecise assessment of the condition is also a challenge faced globally.
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounts for the largest share of the antidepressant drugs market, followed by Europe, Asia Pacific, and Rest of the World. More than 30% of the market is occupied by North America, with the US being the major contributor to the market growth.
“Government initiatives have been greatly changing the market scenario. Many initiatives are taken to increase the awareness and reduce the suicidal rate globally. Depression is confined by the mental health Gap Action Programme (mhGAP) of the World Health Organization (WHO). This program assists countries to expand their services and facilities for individuals suffering from mental and neurological disorders, through special aid by health workers and not the specialists in mental health. WHO has also established transitory “psychological intervention manuals” for the treatment of depression. The companies are striving to develop innovative drugs to address the unmet needs in the market. For instance, in May 2018, Esketamine Nasal Spray of the Janssen Pharmaceutical Companies of Johnson & Johnson demonstrated rapid enhancements in depressive symptoms in patients with treatment-resistant depression in Phase III trials. Thus, this drug is expected to be one of the bestsellers in the market.” – Rikitha K Murthy, Research Analyst, Infoholic Research
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Key insights of the report include:
- Major Drug Class:
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Norepinephrine–Dopamine Reuptake Inhibitors (NDRI)
- Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs)
- Monoamine Oxidase Inhibitors (MAOIs)
- Tricyclic Antidepressants (TCAs)
- Regional Analysis:
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities