Demand for Depression Drugs Market To be Fuelled by Rapid Shift in Consumer Perception and Increasing Awareness : Fact.MR

According to a report recently released by Fact.MR, a supplier of market research and competitive intelligence, the global market for antidepressants is expected to reach US$ 20 billion by 2031, growing at a consistent CAGR of 4% over that time (2021-2031).

Multiple mental health issues known as depression are defined by a lack of optimism, which causes negative emotions including sorrow, sadness, and worry. When someone experiences feelings of being lost, angry, disappointed, and depressed on a regular basis, it signals a serious problem. Such sentiments are only natural when they last for a brief length of time.

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Depression among adults and teenagers is increasing for a number of reasons, including poor eating habits, social isolation, and an unbalanced work-life schedule. Patients from all demographic categories are now using these drugs at higher rates due to growing understanding of depression as a psychiatric condition and the approaches and techniques utilised to treat it.

Over the next 10 years, it is anticipated that the market for depression medications would expand due to the growing senior population’s social isolation from friends and family as well as other health-related challenges.

Popularity of Tech-based Mental Health Apps also Contributing to Low Sales

According to the study, as end-users have access to additional coping mechanisms, there is a decreasing trend in the need for depression medications. Patients now have greater control over how they manage their depression because to the enormous popularity of mental health applications like Headspace, Calm, Moodnotes, Pacifica, and SuperBetter. A rise in the number of tech applications has been observed in recent years, which may be attributed to the expanding body of research that supports the effectiveness of meditation and cognitive behaviour therapy. According to the report, these changes will continue to have an impact on the market for depression medications.

Key Segments in Depression Drugs Industry Research

  • Drug Type

    • Generic Depression Drugs
    • Branded Depression Drugs
  • Drug Class

    • Serotonin-norepinephrine Reuptake Inhibitors (SNRIs)
    • Selective Serotonin Reuptake Inhibitors (SSRIs)
    • Atypical Antipsychotics
    • Central Nervous System (CNS) Stimulants
    • Tricyclic Antidepressants
    • Monoamine Oxidase Inhibitors
  • Disease Type

    • Depression Drugs for Major Depressive Disorder
    • Depression Drugs for Obsessive-Compulsive Disorder
    • Depression Drugs for Generalized Anxiety Disorder
    • Depression Drugs for Panic Disorder
    • Depression Drugs for Schizophrenia
    • Depression Drugs for Bipolar 1 Disorder
  • Distribution Channel

    • Sales of Depression Drugs via Hospital Pharmacies
    • Sales of Depression Drugs via Retail Pharmacies
    • Sales of Depression Drugs via Online Pharmacies

Key Takeaways from Market Study

  • The market for antidepressants will reach $20 billion by 2031.
  • Over the next ten years, SNRIs (serotonin-norepinephrine reuptake inhibitors) are anticipated to grow at a rate more than 2% CAGR.
  • Over the projection period of 2021–2031, the major depressive disorder sector is expected to have a CAGR of around 1%.
  • More than 40% of the market is in North America.

Depression Drugs Market: Segment-wise Insights

  • The global market for depression medications has been divided into categories based on pharmacological class, including SSRIs, atypical antipsychotics, SNRIs, CNS stimulants, and others. Atypical antipsychotics are predicted to account for the biggest market share of all of these.
  • According to illness category, major depressive disorder is expected to have the largest market share for depression medications. Other sub-segments include schizophrenia, bipolar I disorder, and SSRI-induced.
  • Despite the fact that depression medications are offered in hospitals, retail, and online pharmacies, the retail sector had the biggest share in 2017, and the trend is anticipated to continue from 2018 through 2026.

Global Depression Drugs Market: Competitive Landscape

Some key players operating in the manufacturing of depression drugs are

  • Otsuka Pharmaceutical Co., Ltd.
  • Johnson & Johnson
  • Sebela Pharmaceutical Inc.
  • GlaxoSmithKline plc
  • AstraZeneca plc
  • Eli Lilly and Company
  • Allergan USA Inc.
  • Takeda Pharmaceutical Company Ltd
  • Novartis AG
  • Pfizer, Inc.
  • Alkermes Plc
  • H. Lundbeck
  • Bristol Myers Squibb Co.

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