Antidepressant Market Analysis, Size, Growth, Trends, Demand and Forecast Reportjohndsouzaind | October 10, 2019 | 0 | Pharmaceutical and Healthcare
Anti Depressant Market Overview:
The major factors for the growth of the global antidepressant market include rising cases of depression, increasing awareness of depression, and the emergence of new biologics. Overall, depression affects more than 300 million people across all age groups, and this amount is growing at a rapid rate. The increase in the number of young adults affected by some form of depression is as high as 8%. Depression due to factors such as social isolation and stressful job environment has contributed the most to increasing the number of people suffering from depression. It is expected that the number of people falling prey to depression and associated disorders will continue to increase as a result of improper eating habits, stressful job schedule, growing isolation from family and loved ones due to technology, and the failure to adapt to the fast speed at which the world is moving forward. In countries such as the United Kingdom and the United States, which are characterized by their fast-paced economies, the proportion of the affected population in each age group is quite large. In addition, increasing aged population globally enhances the potential of the market studied over the forecast period. According to WHO estimates, 322 million individuals suffered from depression in 2015, globally, and nearly half of these people belong to the Southeast Asian region and the Western Pacific region. Thus, increasing cases of depression globally are anticipated to drive the general market growth studied over the forecast period.
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Scope of the Report:
According to the scope of the report, antidepressant drugs are used to treat major depressive disorders and other diseases, including dysthymia, anxiety disorders, obsessive-compulsive disorder OCD, eating disorders, chronic pain, neuropathic pain, etc. The market is segmented by product type, depressive disorder, and geography.
Key Market Trends:
Major Depressive Disorder Segment is Expected to Drive the Market Growth
The major possible causes of depressive disorder are a combination of biological, psychological, and social sources of distress. The main risk factors include family history, important changes in life, certain medicines, chronic health issues, and substance abuse. According to information released by the National Institute of Mental Health, approximately 16.2 million adults in the United States had at least one major depressive episode. This number represented 6.7% of all adolescents in the U.S. and is predominantly common in females compared to males. Most commonly, selective serotonin reuptake inhibitors SSRI are used in the therapy of major depression, while some therapies are accessible to normalize brain changes connected with depression. Thus, the market is anticipated to experience high growth over the forecast period due to the increasing amount of the patient pool.
North America is dominating the market growth
The growing cases of depression are one of the main factors anticipated to drive the overall growth of the US antidepressant market over the forecast period. In addition, there is an increase in the geriatric population in the United States, which is anticipated to generate more possibilities for market players in the region. Women are twice as likely to be affected by widespread anxiety disorder GAD compared to men. Six million people, or 2.7% of the U.S. population, suffer from panic disorders, and about 2.2 million or 1.0% of the U.S. population suffer from obsessive-compulsive disorder OCD, which is discovered to be equally prevalent among men and women. The two main factors leading to an increase in antidepressant consumption are the course of therapy that lasts longer than it used to be, and the antidepressants presently being prescribed are not only for severe depression, but also for mild depression, anxiety, social phobia, and more. The growing prevalence of disorders and the increasing rate of antidepressant consumption are anticipated to drive the market studied during the forecast period.
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The market studied comprises of a combination of multinational and national players. The entry barriers are relatively smaller, and most drugs are accessible over the counter. The businesses are attempting to expand their geographical presence through partnerships or acquisitions. Some of the market’s main players are Allergan PLC, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline PLC, H. Lundbeck AS, Johnson & Johnson, and Pfizer Inc.
Name: Jennifer Daniel
Organization: Planet Market Reports