According to the latest report published by Allied Market Research, “Antidepressant Drugs Market by Product (Tricyclic Antidepressants, Selective Serotonin Reuptake Inhibitors, Serotonin-Norepinephrine Reuptake Inhibitors, Monoamine Oxidase Inhibitors, Serotonin Antagonist & Reuptake Inhibitors, and Others), Depressive Disorder (Major Depressive Disorder, Obsessive-Compulsive Disorder, Generalized Anxiety Disorder, Panic Disorder, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.” According to Analyst, the global Antidepressant Drugs Market accounted for $15.65 billion in 2020, and is estimated to reach $21.0 billion by 2030, registering a CAGR of 3% from 2021 to 2030.
Depression affects a person’s thoughts, behavior, feelings and sense of well-being and is caused due to biological, genetics, environment, and psychological factors. The symptoms usually include low mood and aversion to physical activity. Depression is more common in women than men. Depression drugs works by fixing chemical imbalance such as lack of serotonin in the brain. Antidepressants helps in the treatment of depression by maintaining balance of various hormones and chemicals in the brain. Although effective treatments are available, many individuals with depression do not have access to treatment or do not take treatment, mainly due to lack of knowledge and social stigma.
North America is the highest contributor in the antidepressant drugs market in 2020; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
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- Research and development activities have been conducted across the world in various universities and institutes. Researchers have suggested that anti-depressant drugs have an ability to lower down replication of viruses in Covid-19 infected patients.
- Due to disrupted supply chain and interruption in productions, the antidepressant drug manufacturers have been unable to meet the demand during the first few months of pandemic.
The rise in geriatric population, increase in prevalence of depression, and emergence of novel techniques for the development of drugs with fewer side-effects majorly drive the market growth. Furthermore, increase in awareness regarding the disease state and rise in number of people suffering from stress can fuel the growth of the antidepressant drugs market. However, poor efficacy and safety profiles of the drug, preference for non-pharmacological therapies, and increase in number of patent expiration of antidepressants that lead to weak pipeline are expected to hamper the market growth.
The global antidepressant drugs market is segmented on the basis of depressive disorder, product, and region.
Based on product, it is segmented into tricyclic antidepressants, selective serotonin reuptake inhibitors, serotonin-norepinephrine reuptake inhibitors, monoamine oxidase inhibitors, serotonin antagonist and reuptake inhibitors, and others. Selective serotonin reuptake inhibitors is the dominant segment owing to the presence of large number of these drugs.
Based on region, the antidepressant drugs market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in the antidepressant drugs market in 2020, and is expected to retain its dominance throughout the forecast period.
Based on depressive disorder, major depressive disorder is the dominant segment as majority of the people are usually diagnosed with this disorder due to increase in stress levels. However, obsessive compulsive disorder is the fastest growing segment due to increase in the number of drugs for this disorder.
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Antidepressant Drugs Market: By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Antidepressant Drugs Market Report:
- What is the Antidepressant Drugs market size and growth?
- What are the prominent and latest trends impacting the market?
- Which regions will observe growth on new occasions?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
Leading market players analyzed in the research Alkermes Plc, Allergan Plc, Bristol Myers Squibb Co., Eli Lilly and Co., GlaxoSmithKline Plc, H. Lundbeck, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Takeda Pharmaceutical Co. Ltd.
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