The global depression drugs market is expected to grow at a CAGR of 2.5% during 2019-2024. Depression drugs, or antidepressants, are a range of medications that are consumed for the treatment of mental disorders such as social anxiety and depression. They are intended to balance the functioning of neurotransmitters such as serotonin in the brain, thus controlling the mood and emotions of the patient. Depression and related mental disorders are characterized by the absence of positive emotions, constant low mood and numerous cognitive, physical, behavioral and emotional symptoms. These drugs can assist in relieving the symptoms of anxiety, seasonal affective disorder and dysthymia. Antidepressant medications include the use of Selective Serotonin Reuptake Inhibitors (SSRIs), atypical antidepressants and Monoamine Oxidase Inhibitors (MAOIs) that are most effective when consumed along with regular therapeutic sessions.
The growing prevalence of major depressive disorders across the globe is the key factor driving the growth of the market. Depression in adolescents and adults is increasing due to several factors including social isolation, improper dietary habits and work-life imbalance. Furthermore, the increasing geriatric population across the globe that suffers from isolation from family and friends, along with other health-related issues, are also augmenting the growth of the market. However, there is rising awareness about depression as a psychological issue and methodologies to cure it, which has enhanced the adoption of these drugs among patients of all age groups. Additionally, the emergence of novel techniques for the development of antidepressants with minimal side-effects and prolonged results, along with the acceptance of new medications, is also favoring the market growth. For instance, psychedelics such as ketamine are widely considered to ease the symptoms of depression and provide relief.
IMARC Group’s latest report provides a deep insight into the global depression drugs market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the depression drugs market in any manner.
The report has also analyzed the competitive landscape of the market with some of the key players being Otsuka Pharmaceutical, Pfizer, Eli Lilly and Company, AstraZeneca, Novartis, Bristol-Myers Squibb, GlaxoSmithKline, Takeda Pharmaceutical Company, Forest Laboratories, Allergan, Johnson & Johnson, NHU Group, Sebela Pharmaceuticals, etc.
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