Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global depression therapeutics market, by drug type (Antidepressants (Selective Serotonin Reuptake Inhibitors (SSRIs), Selective Norepinephrine Reuptake Inhibitors (SNRIs), Serotonin Modulators, Tricyclic & Tetracyclic Antidepressants and Atypical Antidepressants), Antipsychotics and Others), by indication (Major Depressive Disorder (MDD), Bipolar Disorder, Dysthymic Disorder, Postpartum Depression, Seasonal Affective Disorder (SAD), Premenstrual Dysphoric Disorder (PMDD), and Others), by distribution channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), was pegged at US$ 11,130.7 million in 2017 and is forecast to exhibit a CAGR of 3.7% over the forecast period (2018-2026).
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Generic drug manufacturers have witnessed a major upsurge in demand for antidepressant medications over the recent past, owing to the growing prevalence of mental disorders, such as depression, anxiety, and bipolar disorders, across the globe. However, branded drug manufacturers are focused on gaining profits on patented products, such as Viibryd, manufactured by Forest Laboratories. The global healthcare space has witnessed the advent of innovative generic counterparts of branded products in past few years. Thus, several potential blockbuster drugs are expected to lose patent protection over the forecast period.
Allergan Plc’s Fetzima is protected by three patents that are expected to expire in 2031, 2032, and 2023, each. Multiple major drug manufacturers have received the U.S. Food & Drug Administration (FDA) approval for the commercialization of several antidepressant drugs. For instance, Levomilnacipran received the U.S. FDA approval in 2013, under brand name Fetzima by Forest Laboratories, Inc. Allergan Plc. and its partner Gedeon Richter Plc. receive FDA approval for Vraylar (cariprazine) for the treatment of manic or mixed episodes of bipolar I disorder and schizophrenia among adults. In 2017, Intellipharmaceutics International Inc. received approval from the U.S. Food and Drug Administration for quetiapine fumarate extended-release tablets in the 50, 150, 200, 300, and 400 mg strengths.
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The leading market contenders are majorly involved in various R&D activities, which is a developmental aspect for the growth of the global depression therapeutics market. For instance, GlaxoSmithKline Plc, together with University of Cambridge and Janssen Pharmaceuticals formed an MRC Immunopsychiatry Consortium in 2017, in order to investigate the links between depression and inflammation. Allergan Plc’s Vraylar (cariprazine) cleared the phase III trial, while Rapastine is still undergoing the phase II trial and is likely to receive approval by 2022.
In 2017, Allergan Plc., along with its partner Gedeon Richter Plc, succeeded in the phase 3 study of cariprazine for the treatment of major depressive episodes among adults. Furthermore, Alkermes, Inc.’s ALKS 5461 is in Phase III clinical trials for treatment of major depressive disorder. Otsuka Pharmaceutical Co. Ltd. currently has its ASC-01 in the Phase III clinical trials, and Axsome Therapeutics has its AXS-05 going through the Phase III clinical trials for major depressive disorder.
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Key Takeaways of the Global Depression Therapeutics Market:
- There is a high presence of major manufacturers, such as Otsuka Holdings and Takeda Pharmaceutical Company Limited, which are known to capitalize on generic products sale in this region and focus on collaborations for higher profits. This is a pivotal factor fostering the Asia Pacific depression therapeutics market expansion.
- The market is expected to witness positive changes over the forecast period, owing to multiple patent losses of potential blockbuster drugs and introduction of new drugs that are currently in later stages of clinical trials.
- The renowned players operating in the global depression therapeutics market include Pfizer, Inc., Eli, Lilly and Company, AstraZeneca, Plc, Allergan Plc, GlaxoSmithKline Plc, Intellipharmaceutics International, Inc., Takeda Pharmaceutical Company Limited, H.Lundbeck A/S, Otsuka Holdings Co., Ltd., Apotex, Inc., Shionogi & Co. Ltd., Zhejiang Hua Hai Pharmaceuticals Co., Ltd., and Chengdu Kanghong Pharmaceutical Group Co., Ltd.
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