According to the latest report published by Variant Market Research, the global depression drugs market is estimated to reach $18 billion by 2024, from $15 billion in 2016; at a CAGR of 2.6% from 2016 to 2024.
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Rising efficacy and declining side effects of drugsto drive the global depression drugs market
The global depression drugs market is driven by factors such as growth in geriatric population, rising efficacy and declining side effects of drugs, and support from government organizations. Lack of awareness among individuals regarding depression may hamper the market growth. Furthermore, augmenting prevalence of fretfulness & many other depression disorders would provide an opportunity for market players of depression drugs market.
The global depression drugs market is classified into product type, application, and geography. Product type segment includes tricyclice antidepressants, serotonin-norepinephrine reuptake inhibitors (SNRIs), atypical antipsychotics, selective serotonin reuptake inhibitors, benzodiazepines, tetracyclic antidepressants, monoamine oxidase inhibitors and other product types. Clinics and hospitals and research centers are covered under the application sub segment. North America (U.S., Mexico, and Canada), Europe (France, Germany, UK, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global depression drugs market.
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Serotonin-norepinephrine reuptake inhibitors (SNRIs), by product type, is estimated to dominated the global market in 2016
Serotonin-norepinephrine reuptake inhibitors (SNRIs)held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to
Asia-Pacific is estimated to witness fastest CAGR from 2016 to 2024
Asia-Pacific is predicted to grow at a fastest CAGR over the forecast period 2016 to 2024. The growth is attributed to increased demand from emerging countries such as China, Japan, and Australia. Rising awareness among consumers regarding benefits of depression drug is also expected to propel the growth of depression drugs market in the region.
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The key market players of the market are H. Lundbeck, Merck & Co., SK Biopharmaceuticals, Novartis, AstraZeneca, Forest Laboratories, Naurex, GlaxoSmithKline, Eli Lilly and Co., Naurex, and others.
Scope of Depression Drugs Market
Product Type Segments
- Tricyclice Antidepressants
- Serotonin-Norepinephrine Inhibitors
- Atypical Antipsychotics
- Selective Serotonin Reuptake Inhibitors
- Benzodiazepines, Tetracyclic Antidepressants
- Monoamine Oxidase Inhibitors
- Clinics and Hospitals
- Research centres
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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