Antidepressant market size expected to reach record revenue of $ 15.98 billion by 2023

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Antidepressant drug industry

The increase in the prevalence of depression, the geriatric population, the emergence of new techniques for the development of drugs with less side effects are stimulating the market.

PORTLAND, OR, USA, November 26, 2021 /EINPresswire.com/ – Depression affects a person’s thoughts, behavior, feelings and sense of well-being and is caused by biological, genetic, environmental and psychological. Symptoms usually include a bad mood and an aversion to physical activity. Depression is more common in women than in men. Medicines for depression work by correcting chemical imbalances such as a lack of serotonin in the brain. Antidepressants help in the treatment of depression by maintaining the balance of various hormones and chemicals in the brain. Although effective treatments are available, many people with depression do not access or follow treatment, mainly due to lack of knowledge and social stigma.

The antidepressant market was worth $ 13,755 million in 2016, and is expected to reach $ 15,983 million by 2023, registering a CAGR of 2.1% from 2017 to 2023. North America is the largest contributor to the economy. the antidepressant market in 2016; however, Asia-Pacific is expected to experience the highest growth rate during the forecast period. The report offers detailed analysis of key segments, major pockets of investment, changing dynamics, market size and estimates, and competitive scenario.

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The increase in the geriatric population, the increase in the prevalence of depression, and the emergence of new techniques for the development of drugs with less side effects are the main drivers for the growth of the market. Moreover, increased awareness of the condition of the disease and the increase in the number of people suffering from stress may fuel the growth of the antidepressant drugs market. However, the low efficacy and safety profiles of the drug, the preference for non-pharmacological therapies, and the increasing number of antidepressant patent expires that lead to a weak pipeline are expected to hamper the growth of the market.

Among depressive disorders, major depressive disorder is the dominant segment, as the majority of people are usually diagnosed with this disorder due to increased stress levels. However, obsessive-compulsive disorder is the fastest growing segment due to the increase in the number of drugs for this disorder.
Among the product, selective serotonin reuptake inhibitors dominate the market due to the large number of prescriptions of these drugs and the large number of clinical trials for these drugs.

In 2016, North America was the main contributor to income, due to the high prevalence rate of depression, the presence of high disposable income and the increase in the number of prescriptions for antidepressants. However, Asia-Pacific is expected to experience the highest CAGR during the analysis period, due to the presence of populated countries such as India and China leading to a large number of people suffering from depression and an increase in the number of people suffering from depression. health care costs.

The main key players are:

• Alkermes Plc
• Allergan Plc
• Bristol Myers Squibb Co.
• Eli Lilly et Cie.
• GlaxoSmithKline Plc
• H. Lundbeck
• Merck & Co., Inc.
• Pfizer Inc.
• Teva Pharmaceutical Industries Ltd.
• Takeda Pharmaceutical Co. Ltd.

The other important players are:

• Health Opko
• Intracellular therapies
• Janssen Pharmaceuticals
• Lupine
• Abbott Laboratories
• Novartis
• Forestry laboratories
• AstraZeneca

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Key Findings of the Antidepressant Drugs Market:

• Obsessive-compulsive disorder is expected to grow at the highest rate during the analysis period.
• North America dominated the global antidepressant market in 2016 and is expected to continue to dominate in the future.
• China is expected to experience the highest growth in Asia-Pacific during the forecast period.
• Major depressive disorder was the largest contributor among depressive disorder segments in 2016.
• The segment of selective serotonin reuptake inhibitors generated the highest sales and is expected to continue to dominate in the future.

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