According to estimates, the global depression drugs market is projected to be worth US$ 11,939.2 million in 2021 and is predicted to demonstrate a CAGR of 3.7% from 2021 to 2028.
Depression is a collection of various mental health difficulties marked by a lack of positivity, resulting in emotions like anxiety, misery, and sadness. These emotions are typical for a brief duration, but they become a severe concern when an individual experiences frequent feelings of being lost, frustrated, gloomy, and angry. A variety of mental health conditions, such as anxiety, depression, and major depressive disorder, can be treated with antidepressants. These medications work by regulating the levels of certain chemical neurotransmitters in the brain, like serotonin and dopamine, which play a critical role in managing emotions, moods, and behavior. Antidepressants are a diverse group of drugs that include serotonin and norepinephrine reuptake inhibitors (SNRIs), tricyclic antidepressants (TCAs), selective serotonin reuptake inhibitors (SSRIs), serotonin receptor modulators (SRMs), and monoamine oxidase inhibitors (MAOIs). They have distinct pharmacological mechanisms in the brain that aim to restore the chemical balance associated with mood disorders like depression.
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🠺 Table of Contents (Scope covered as a part of the study)
🠺 Top players in the market
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The market growth is anticipated to be propelled during the forecast period by the rising incidence of depression disorders.
In October 2019, the World Health Organization released data indicating that around 20 million individuals worldwide were impacted by schizophrenia during that year.
As per the data released by the World Health Organization, approximately 300 million individuals of all age groups experienced depression in 2018 across the globe.
Additionally, as per the figures released by the National Institute of Mental Health (NIMH), it was approximated that approximately 17.3 million adults in the United States underwent at least one significant depressive episode in 2017, which accounted for 7.1% of all grownups in the nation.
The market growth is anticipated to be propelled during the forecast period due to the increasing acceptance of new drugs for the treatment of depression.
The major market players are focused on obtaining approval and introducing their innovative depression medications to the market. This approval and launch of new drugs designed to treat different forms of depression are projected to fuel market expansion during the forecasted period.
In March 2019, the US Food and Drug Administration (FDA) granted approval to Johnson & Johnson’s Janssen Pharmaceutical Companies for the use of SPRAVATO (esketamine) CIII nasal spray alongside an oral antidepressant to treat treatment-resistant depression (TRD) in adults.
Sage Therapeutics, Inc., a pharmaceutical company, obtained approval from the US FDA in March 2019 for their product ZULRESSOTM (brexanolone) injection to treat postpartum depression (PPD), which is the most prevalent behavioral complication following childbirth. ZULRESSO is solely authorized for the treatment of PPD.
Competitive landscape
Leading companies including Johnson & Johnson, Pfizer, Inc., Merck & Co., Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited, GlaxoSmithKline plc, Alkermes, Allergan plc, AstraZeneca plc, Eli Lilly and Company, and H. Lundbeck A/S are operating in the global depression drugs market.
Impact of the Coronavirus (Covid-19) Pandemic
Pharmaceutical companies, biotechnology firms, and clinical tool manufacturers are encountering obstacles amid the COVID-19 pandemic, primarily caused by disruptions in supply chains and the need to revamp their service processes. Clinical trials have been significantly impacted by the pandemic, affecting sponsors’ financial capacity to support clinical trials; social distancing measures hindering participant recruitment for non-COVID-19 trials; reluctance of participants to visit clinical sites due to the risk of COVID-19 infections; and compelling trial staff to choose remote working options. New guidelines have been issued by the US FDA for the ongoing pandemic, which include strategies to mitigate the impact on clinical trials. These measures involve enabling participants, providing logistical and supply chain management support, modifying clinical trial protocols, utilizing remote data review, monitoring clinical sites, and offering additional support services to sites. The aim is to ensure the continuity of clinical trials.
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Market Restraints:
The availability of alternative treatment options for different types of depression is likely to impede market growth during the projected timeframe. An example of this is the approval of innovative Neurological Devices LLC’s Cervella Cranial Electrotherapy Stimulator by the US FDA in May 2019. The Cervella medical device was cleared by the FDA for treating insomnia, anxiety, and depression.
Additionally, the growth of the depression drugs market is likely to be negatively impacted to some degree by the side effects that are often associated with these medications. Patients may be reluctant to undergo medication therapy due to concerns and insufficient knowledge about the potential adverse effects. In 2004, the US FDA requested that the manufacturers of Prozac and all antidepressants include a black box warning on their products highlighting the potential risk of suicidal behavior in children and teenagers, resulting in a decrease in prescription rates. Moreover, the medication’s adoption is limited due to side effects like anxiety, nausea, insomnia, and sexual dysfunction, which are also hindering the market’s growth.
𝐓𝐡𝐞𝐬𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐈𝐧𝐯𝐞𝐬𝐭 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭
✅Depression Therapeutics Market provides an analysis of the changing competitive environment
✅Analytical data and strategic planning methods are involved to help businesses make informed decisions.
✅Few year assessment for Depression Therapeutics Market.
✅It allows you to understand the key product segments.
✅Our team shed light on market dynamics such as drivers and restraints, trends and opportunities.
✅It provides a regional analysis of the Depression Therapeutics Market as well as business profiles for several stakeholders.
✅It provides massive data on trending factors that can influence the development of the Depression Therapeutics Market.
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Depression Therapeutics Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Depression Therapeutics Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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