Global Depression Drugs Market is estimated to value over USD 14 billion by 2026 end and register a CAGR of over 1.8% during the forecast period 2019 to 2026.
Depression is known as a mood disorder which often culminates in feelings of sadness. Many factors can trigger depression that includes chemistry & biology, life events such as failed relationships, childhood trauma etc. Signs and symptoms of depression can often be treated with the help of various medications, also known as antidepressants. Among the most common antidepressant drugs used to treat depression are Zoloft, Paxil, Pristiq, Celexa, Prozac, Cymbalta and Lexapro
The global depression drugs market share is expected to rise owing to the different dimensions of depression and their treatment. To add to this, the surge in the geriatric population, an exponential rise in depression afflicted patients in developed nations such as the United States have also been predicted to generate numerous growth prospects for the market in the forthcoming years. However, strict regulatory sanctions and the approval of antidepressants, the patent expiry issue for blockbuster antidepressant drugs, and the stringent guidelines regarding the consumption of antidepressants without a prescription are some of the features which are likely to dampen the depression drugs market growth.
In addition, the epidemics of drug abuse along with the negative side effects of consumption of depression drugs for an extended period of time further threaten the depression drugs market potential. Moreover, a number of medical practitioners are of the view that drugs are only a short term solution and does not provide the much needed psychological aid that patients with clinical diagnosed depression require. Another factor to take into account is that many patients who consume depression drugs and eventually become so dependent on them, that once they quit, they are likely to experience severe withdrawal symptoms which further worsens their mental state.
The efforts undertaken by medical health experts to highlight the surge in the number of mental health issues has helped the market growth. Having said that, their initiatives have also put forth various methods of treatments that does not entail the usage of drugs. Mental health professionals have also emphasized the importance of a well- balanced diet, regular psychological counselling and consistent exercise regimes as aspects which are essential for people who are suffering from mental health issues. By practicing such therapies, the excessive consumption of antidepressants has reduced dramatically.
The region of North America is the largest regional market due to heightened awareness with respect to availability of antidepressants, an augmentation in healthcare expenditure and an increased volume of research and development exercises related to drug marketing and manufacturing are some of the attributes that has facilitated the high growth of the global market for depression drugs.
Prominent players in the Depression Drugs Market includes Allergan, Plc, Novartis International AG, Allergan, Plc, Lupin Pharmaceuticals, Inc., Abbott Laboratories and Janssen Pharmaceuticals, Inc.
Global Depression Drugs Market Segmentation:
By Depressive Disorder
- Major Depressive Disorder
- Obsessive-Compulsive Disorder
- Generalized Anxiety Disorder
- Panic Disorder
- Others
By Product
- Tricyclic Antidepressants
- Selective Serotonin Reuptake Inhibitors
- Serotonin- Norepinephrine Reuptake Inhibitors
- Monoamine Oxidase Inhibitors
- Serotonin Antagonist & Reuptake Inhibitors
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
FutureWise Key Takeaways:
- Growth prospects
- SWOT analysis
- Key trends
- Key data-points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on the global depression drugs market by depressive disorder, by product, and by region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
- To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
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