Global Depression Drug Market: Overview
In the recent times, depression has surfaced as one of the most common mental disorders among people all across the world. Depression drugs, commonly known as antidepressants, are primarily utilized for the treatment of this condition. With the substantial increase in the patient pool suffering from this condition, the market for depression drugs is gaining tremendous rise, globally.
Depression patients regularly experience a feeling of sadness and continue to lose interest in their day-to-day work, as it severely affects the way a person feels, thinks, and behaves, causing a number of physical and emotional issues. Of the world’s population, youth (below 20 years of age) and women are most severely affected by depression. Several governments across the world have initiated various programs to increase awareness among consumers pertaining to depression and mental health, which consequently, is resulting in an upswing in the demand for antidepressants, worldwide.
Primarily, tricyclic antidepressants, selective serotonin reuptake inhibitors, serotonin norepinephrine reuptake inhibitors, atypical antidepressants, and monoamine oxidase inhibitors are used for the treatment of depression. These drugs are also utilized in the treatment of a number of other medical conditions, such as chronic pain, neuropathic pain, anxiety disorders, eating disorders, and obsessive compulsive disorder.
This research study on the global market for depression drugs offers an in-depth and unbiased market assessment, taking its historical and existing performance into consideration. Researchers have also examined the prominent trends and the growth prospects of this market in a bid to predict its future status in this research report.
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Global Depression Drug Market: Trends and Opportunities
The augmenting prevalence of anxiety and various other depression disorders has the most prominent influence on the demand for depression drugs across the world. The enhanced efficiency of these drugs is also adding substantially to their demand. In addition to this, the rise in the global geriatric population and the declining number of cases of side-effects caused by these drugs is likely to fuel their sales in the coming years. However, the dearth of awareness among people regarding depression and the growing incidence of drug resistant-mental disorders may limit the uptake of depression drugs to some extent in the near future.
Clinical depressive disorder, psychotic depression, dysthymic disorder, postpartum depression, and seasonal affective disorder have surfaced as the key types of depression, for the treatment of which, depression drugs are considered highly efficient. These drugs have mainly been classified as anticonvulsants, selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors, beta-blockers, tetracyclic antidepressants (TeCAs), benzodiazepines, and monoamine oxidase inhibitors (MAOIs). Among these, the demand for SNRIs has been higher; however, the segment is expected to experience a declining sales over the next few years.
Global Depression Drug Market: Geographical Analysis
North America, Asia Pacific, Europe, and the Rest of the World have been recognized as the prime geographical segments of the global market for depression drugs. As a large base of the population suffers from various types of anxiety and depression disorders in North America, it has emerged as the leading contributor to the worldwide market. With nearly 9% of the overall population slipped in depression, the demand for depression drugs from the U.S. has been exceptionally strong. Researchers expect this trend to remain so over the next few years.
Europe is also witnessing a significant rise in the demand for depression drugs on account of the growing pool of anxiety patients. The increasing incidence of postpartum depression in women is also expected to boost the demand for depression drugs in this region in the years to come. Asia pacific, on the other hand, is likely to gain from the increasing awareness regarding depression and the benefits of depression drugs among consumers.
Companies mentioned in this report
The global market for depression drugs demonstrates a highly competitive and fragmented structure, owing to the large pool of players operating in it. Eli Lilly and Co., AstraZeneca, Forest Laboratories, Naurex, GlaxoSmithKline, H. Lundbeck, Merck & Co., SK Biopharmaceuticals, and Novartis are the leading participants in this market. These companies are focusing aggressively on developing herbal remedies and improving distribution networks in emerging economies.
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