The global depression drugs market reached a value of US$ 12.41 Billion in 2019. Depression is a mental disorder characterized by the absence of positive emotions, constant low mood and numerous cognitive, physical, behavioral and emotional symptoms. It is diagnosed by identifying the symptoms and checking the medical history of the patient. It is then treated using depression drugs, which balance the functioning of neurotransmitters, such as serotonin, in the brain and controlling the mood and emotions of the patient. These drugs can assist in relieving the signs of anxiety, seasonal affective disorder and dysthymia.
According to the World Health Organization (WHO), depression is one of the leading causes of disability and has impacted more than 264 million people across the globe. The increasing prevalence of mental disorders, such as social anxiety and depression, represents one of the key factors propelling the depression drugs market growth. Apart from this, with the surge in the cases of the coronavirus disease (COVID-19), there is a considerable degree of fear, worry and concern in the population. Moreover, as governments of various countries have imposed complete lockdown and are promoting the adoption of social distancing measures, the everyday routine of a significant portion of the population has been altered, which, in turn, has negatively impacted the mental health of individuals. This trend has emerged as another major growth-inducing factor boosting the sales of depression drugs. Furthermore, the emergence of novel techniques for the development of antidepressants with minimal side-effects and long-term results, in confluence with the increasing acceptance of new medications, is anticipated to impel the market growth in the upcoming years. On account of these factors, IMARC Group expects the market to grow at a CAGR of 2.3% during 2020-2025.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global depression drugs market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, type, service, organization size, and verticle.
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, Allergan, Johnson & Johnson, Zhejiang NHU Company Ltd, Sebela Pharmaceuticals, etc.
Key Questions Answered in This Report
The global depression drugs market was worth US$ 12.41 Billion in 2019.
At present, the market is witnessing growth on account of the increasing prevalence of mental disorders, such as social anxiety and depression, and the emergence of novel techniques for the development of antidepressants with minimal side-effects.
With a significant rise in the cases of the coronavirus disease (COVID-19), governments of various countries have imposed complete lockdowns and are promoting the adoption of social distancing measures. On account of this, there has been an increase in the number of individuals seeking aid for their mental health.
The market has been segmented on the basis of the drug class into Atypical Antipsychotics, Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs), Selective Serotonin Reuptake Inhibitors (SSRIs), Central Nervous System (CNS) Stimulants, Tricyclic Antidepressants, Monoamine Oxidase Inhibitors and others.
On the basis of the drug type, the market has been bifurcated into generic and branded drugs.
Based on the distribution channel, the market has been segregated into hospitals, retail, online and other pharmacies.
The market has been analyzed on the basis of the disorder type into major depressive, obsessive-compulsive, generalized anxiety, panic and other disorders.
On the geographical front, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Leading industry players are Otsuka Pharmaceutical Co., Ltd., Pfizer Inc., Eli Lilly and Company, AstraZeneca Plc, Novartis International AG, Bristol Myers Squibb Company, GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Allergan Plc, Johnson & Johnson, Incorporated, Zhejiang NHU Co. Ltd. and Sebela Pharmaceuticals Inc.
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