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antidepressant drugs market Boosting the Growth Worldwide: Market Dynamics and Trends, Efficiencies Forecast 2024

Summary

his market research report identifies Novartis AG, Allergan Inc., Elli Lilly and Company, AstraZeneca Plc, GSK, Otsuka Holdings Co., Ltd., and Johnson & Johnson as the major vendors operating in the global antidepressant drugs market. This report also provides a detailed […]

his market research report identifies Novartis AG, Allergan Inc., Elli Lilly and Company, AstraZeneca Plc, GSK, Otsuka Holdings Co., Ltd., and Johnson & Johnson as the major vendors operating in the global antidepressant drugs market. This report also provides a detailed analysis of the market by drug class (SSRI, NDRI, SNRI, MAOI, TCA and Others) and region (North America, Europe, Asia Pacific, and Rest of the World).

Overview of the Antidepressant Drugs market

Infoholic’s market research report predicts that the global antidepressant drugs market will grow at a CAGR of 2.2% during the forecast period 2018–2024.  The major drivers of the market are the growing aging population and increasing prevalence of depression which are driving the global antidepressant drugs market growth. Supportive initiatives from the government and other organizations and increasing clinical trials will provide an opportunity for the market growth of the antidepressant drugs market in the future.

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According to the antidepressant drugs market analysis, North America accounts for the largest share of the antidepressant drugs market, followed by Europe, Asia Pacific, and Rest of the World. North America alone occupies more than 30% of the market, with a significant contribution from the US to the market growth.

Competitive Analysis and Key Vendors

At the global level, over 300 million people are estimated to suffer from depression, which is equivalent to 4.4% of the world’s total population. Only less than 10% of the affected people are treated although there is the availability of branded and effective treatments for depression. The challenges for effective care include lack of capitals, unavailability of qualified healthcare providers, and public stigma associated with mental disorders. Along with these, imprecise assessment of the condition is also a challenge which is faced globally.

Government initiatives have been greatly changing the antidepressant drugs market scenario. Many initiatives are taken to increase the awareness and reduce the suicidal rate globally. Depression is confined by the mental health Gap Action Programme (mhGAP) of the World Health Organization (WHO) to assists countries to increase their facilities for those suffering from mental disorders, through special aid by healthcare workers. A special transitory was established by WHO for the treatment of depression. The companies are striving to develop innovative drugs to address the unmet needs in the market. For instance, in May 2018, Esketamine Nasal Spray of Janssen Pharmaceutical Companies of Johnson & Johnson demonstrated rapid enhancements in depressive symptoms in patients with treatment-resistant depression in phase III trials. Thus, this drug is expected to be one of the bestsellers in the market.

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Some of the Antidepressant Drugs Market key vendors:

  • Novartis AG
  • Allergan Inc
  • Elli Lilly and Company
  • AstraZeneca Plc
  • GSK
  • Otsuka Holdings Co., Ltd
  • Johnson and Johnson

The other prominent players include Pfizer, Shionogi & Co. Ltd., Abbott Laboratories, Takeda Pharmaceutical Co., Ltd., and H. Lundbeck A/S.

Antidepressant Drugs Market by Drug Class

  • Selective serotonin reuptake inhibitors (SSRIs)
  • Norepinephrine-dopamine reuptake inhibitor (NDRI)
  • Serotonin and norepinephrine reuptake inhibitors (SNRIs)
  • Monoamine oxidase inhibitors (MAOIs)
  • Tricyclic antidepressants (TCAs)
  • Others

During the forecast period, SSRIs are the most attractive drug in the market, owing to the highly effective treatment of depression and anxiety.

Benefits

The report provides detailed information about the usage and adoption of antidepressant drugs in various regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the product adoption during the forecast period in the market. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the antidepressant drugs market.

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