Introduction to Antidepressant Drugs
Depression is one of the most commonly occurring mental health conditions among people, especially in the current times. The disorder results in a change in mood as well as the behavior of the person, causing them to feel low and unhappy. Depressive disorders can be of various types – anxiety disorder, panic disorder, obsessive compulsive disorder and major depressive disorder. These negatively impact the mental health and decrease the productivity of the person.
Depressive disorders can be treated with the help of medications known as antidepressants. These are drugs which relieve the symptoms of depression and other related disorders, and lead to an improved mental health. Antidepressant drugs rectify the chemical imbalance of neurotransmitters in the brain and aid in reducing these symptoms.
Market Size and Forecast
The antidepressant drugs market is anticipated to record a CAGR of around 2.5% over the forecast period, i.e., 2020-2028. The market is segmented by drug class, by depressive disorder and by region, out of which, the drug class segment is further segmented into serotonin and noradrenaline reuptake inhibitors [SNRIs], selective serotonin reuptake inhibitors [SSRIs], tricyclic antidepressants [TCAs], monoamine oxidase inhibitors [MAOIs], noradrenaline and specific serotoninergic antidepressants [NASSAs] and others. The segment for selective serotonin reuptake inhibitors [SSRIs] is anticipated to hold the leading share in the antidepressant drugs market on account of large number of drugs belonging to this drug class available globally. On the basis of depressive disorder segment, the market is segmented into major depressive disorder, generalized anxiety disorder, obsessive compulsive disorder, panic disorder and others, out of which, the major depressive disorder segment is predicted to hold the largest share in the market. This can be attributed to the growing stressful lifestyles of people all around the world which results in a higher demand for antidepressants for the treatment of major depressive disorder. The National Institute of Mental Health estimated that about 17.3 million adults, or 7.1% of all adults in the United States had experienced at least one major depressive episode in 2017.
Rising Mental Health Disorders to Drive the Market Growth
According to the World Health Organization, depression is a common disorder across the globe which affects about 264 million people globally. Depression can lead to suicide as well. Every year, around 800,000 people die due to suicide. Moreover, 76% to 85% of people living in the low and middle income countries do not receive any treatment for their mental health disorders. The growing cases of depressive disorders among people globally are predicted to increase the market growth in the coming years. In addition to this, the lack of facilities and services available in the low and middle income countries is anticipated to provide lucrative business opportunities for antidepressant drugs market during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
Unhealthy Lifestyles and Rising Stress Levels to Increase the Use of Antidepressants
As a result of changing lifestyles, people from all over the world experience stress and pressure. This impacts their mental health and might result in development of a depressive disorder. As per the 2018 statistics by Mental Health Foundation, 74% of people in the UK have felt so stressed that they felt overwhelmed or unable to cope. This is predicted to raise the demand for antidepressants as well.
Side Effects of Antidepressant Drugs to Hamper the Market Growth
There are some major side effects associated with the antidepressant drugs present in the market. These might consist of weight gain, nausea, dizziness, dry mouth, headaches and others. Moreover, stopping the antidepressants dose might lead to recurrence of depression. On account of these, the market for antidepressant drugs is estimated to observe limited growth in future.
Our in-depth analysis of the antidepressant drugs market includes the following segments:
By Drug Class
By Depressive Disorder
On the basis of regional analysis, the antidepressant drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest share on account of high demand for antidepressant drugs by the people in the region and growing cases of depressive disorders and other mental health disorders in the region. Antidepressant drugs market in Europe is estimated to follow the lead with second largest share as a result of high prescription rate of antidepressants in the region. However, the market in Asia Pacific is anticipated to witness the highest rate growth over the forecast period. This can be attributed to the large population in the region which raises the demand of antidepressant drugs with rising awareness among people about mental health and related disorders.
The antidepressant drugs market is further classified on the basis of region as follows:
Top Featured Companies Dominating the Market
Growing mental health disorders such as major depressive disorder, unhealthy lifestyles and high stress levels are driving the market growth.
The market is anticipated to attain a CAGR of 2.5% over the forecast period, i.e. 2020-2028.
North America is anticipated to hold the dominating share in the market.
Asia Pacific will provide more business opportunities for market growth on account of large population and rising awareness among people about mental health disorders.
The major players in the market are Allergan, Bristol-Myers Squibb Company, Eli Lilly and Company, Pfizer Inc., Johnson & Johnson Services, Inc., AstraZeneca, GlaxoSmithKline plc. and others.
Company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
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