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The global depression drugs market was valued at US$ 12.7 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic has negatively impacted the mental health of individuals due to the imposition of lockdown regulations, loss of employments, increased health risks, etc., which are augmenting the demand for depression drugs.
We expect the global depression drugs market to exhibit a CAGR of around 3% during 2021-2026.
The increasing prevalence of social anxiety and depression due to rising work pressure and busy schedules, represents one of the key factors driving the global depression drugs market.
Based on the disorder type, the global depression drugs market has been bifurcated into major depressive disorder, obsessive-compulsive disorder, generalized anxiety disorder, panic disorder, and others. Among these, major depressive disorder holds the majority of the total market share.
Based on the distribution channel, the global depression drugs market can be segmented into retail pharmacies, hospital pharmacies, online pharmacies, and other pharmacies. Currently, retail pharmacies exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global depression drugs market include 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.
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