According to the latest report by IMARC Group, titled “Depression Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global depression drugs market size is expanding at a steady rate. Depression is a serious mental health disorder that negatively affects the way one feels, thinks and acts. It is characterized by persistent feelings of sadness and/or loss of interest. It is a severe illness that can lead to a variety of emotional and physical problems while decreasing the patient’s ability to function at work and home. After identifying specific symptoms and medical history, depression drugs are usually prescribed to the patients to help modify their brain chemistry. The purpose of these medicines is to balance the neurotransmitters in the brain, which affect mood and emotions. Apart from being used to treat depression, these drugs are also widely used to treat other mental health conditions, including anxiety disorders, attention deficit hyperactivity disorder (ADHD) and obsessive-compulsive disorder (OCD).
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Global Depression Drugs Market Trends:
The increasing awareness regarding the prevalence of depression and other mental illnesses has led a majority of the population to seek professional help, which is primarily driving the market. Hectic lifestyles, improper dietary habits and long working hours, along with social isolation and stressful work environment, have resulted in the development of stress disorders among the working population, which is another major factor boosting the sales of depression drugs. Moreover, the increasing geriatric population is another major growth-inducing factor. The elderly population is more prone to health disorders, which may be followed by mental illnesses. Also, elderlies are more likely to endure the sense of social isolation, especially from the immediate family members and friends, which consequently leads to depression. Furthermore, manufacturers are continually engaging in research and development (R&D) activities to introduce effective variants with minimal side-effects and prolonged results. On account of the aforementioned factors, the market is anticipated to reach to grow at a CAGR of 2.3% during 2020-2025.
Market Breakup by Drug Class:
- Atypical Antipsychotics
- Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Central Nervous System (CNS) Stimulants
- Tricyclic Antidepressants
- Monoamine Oxidase Inhibitors
- Others
Market Breakup by Disorder Type:
- Major Depressive Disorder
- Obsessive-Compulsive Disorder
- Generalized Anxiety Disorder
- Panic Disorder
- Others
Market Breakup by Drug Type:
- Generic Drugs
- Branded Drugs
Market Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Market Summary:
On the geographical front, North America holds the leading position in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America. The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market. Some of these include:
- Otsuka Pharmaceutical Co. Ltd.
- Pfizer Inc.
- Eli Lilly and Company
- AstraZeneca plc
- Novartis International AG
- Bristol-Myers Squibb Company
- GlaxoSmithKline plc
- Takeda Pharmaceutical Company Ltd.
- Allergan plc
- Johnson & Johnson
- Zhejiang NHU Co. Ltd.
- Sebela Pharmaceuticals Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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