Antidepressants Market Size & Share, by Drug Class (Serotonin-Norepinephrine Reuptake Inhibitors, Selective Serotonin Reuptake Inhibitors, Tricyclic, Monoamine Oxidase Inhibitors, Serotonin Antagonist & Reuptake Inhibitors); Indication (Major Depressive Disorder, Anxiety Disorder, Panic Disorder) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

 Global Antidepressants Market Definition

The term "antidepressants" refers to a class of medications used to treat severe depression. In addition to treating social anxiety disorder and chronic pain conditions, they are also beneficial for managing addictions. Their function is to restore neurotransmitter balance in the brain, which influences mood and behavior. There are several types of antidepressants that are prescribed by doctors. A few of these are selective serotonin reuptake inhibitors (SSRIs), monoamine oxidase inhibitors (MAOIs), serotonin and norepinephrine reuptake inhibitors (SNRIs), and tricyclic antidepressants (TCAs). SSRIs are antidepressants that affect brain serotonin levels by inhibiting the release of specific neurotransmitters in the brain. Furthermore, antidepressants have numerous unlisted uses, such as fibromyalgia, chronic urticaria, hyperhidrosis, hot flashes, premenstrual symptoms, binge eating disorder, and so on.

Global Antidepressants Market: Key Insights

Global Antidepressants Market Size, Forecast, and Trend Highlights Over 2023 – 2033

The global antidepressants market is estimated to garner a revenue of ~USD 23,000 Million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated revenue of ~USD 16,000 Million in the year 2022. The growth of the market is primarily attributed to the worldwide increasing prevalence of depression coupled with growing public awareness concerning depression. According to the World Health Organization (WHO), an estimated 5% of adults worldwide suffer from depression. An individual's depression may be caused by a combination of emotional, behavioral, and genetic factors. Depression may be triggered by life events such as trauma, separation, or unemployed status. Depression can be treated effectively with antidepressants. Additionally, they prevent depression from returning and are effective in treating moderate, severe, and chronic depression.

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Antidepressants are primarily intended to treat the symptoms of severe depression, such as feeling tired and down, as well as prevent them from recurring. Medications such as imipramine inhibit the process by which serotonin and norepinephrine are absorbed. Moreover, it inhibits the contraction of the detrusor and increases the resistance of the outlet through the contraction of the urethral sphincter. Additionally, the rising adoption of these drugs for the treatment of chronic pain coupled with rising instances of pain in chronic conditions are projected to drive market growth in coming years. For instance, worldwide nearly 772 million people are affected by chronic pain.

Global Antidepressants Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Prevalence Of Mental Disorders Around The World - Mental disorders are aspects that affect a person's thinking, feelings, mood, and behavior. They are sometimes short-term or long-term (chronic). Such condition affects the ability of relating with other people and conditions on each day basis. Therefore, thorough and effective treatments are needed to combat these disorders. Therefore, the growing number of people suffering from mental illnesses and disorders is expected to drive the demand for antidepressants that are effective at treating such disorders. As per the World Health Organization statistics, 970 million individuals worldwide, or 1 in every 8 individuals, had a mental disorder in 2019.

• Significant Rise in Stress Level – It has been observed that approximately 90% of Australians are stressed about one or more important aspects of their lives. An individual may suffer from depression if they are subjected to chronic, or long-term, stress. As a result, people are looking for safer and quicker medications to alleviate their stress level and treat depression.

• Increasing Approval for Novel Antidepressants – For instance, in mid-2022, Axsome Therapeutics, Inc.’s Auvelity (dextromethorphan and bupropion) tablet received the approval from FDA to treat the major depressive disorder in adults.

• Worldwide Increase in Geriatric Population - According to the World Health Organization data, the world's population of people aged 60 and up is expected to go up from 1 billion in 2020 to 1.4 billion by 2030. The global population of people aged 60 and up is expected to double to 2.1 billion by 2050. A significant burden of illness is associated with depression among the elderly. A number of antidepressants, such as SSRIs, have been shown to be effective in elderly patients suffering from major depression without psychosis.

• Worldwide Rise in R&D Investment - The class of antidepressants has been tested in over a thousand randomized trials and research studies. Few drugs have achieved such success as antidepressants. The Unesco Institute for Statistics reports that, with an average annual growth rate of 4.7% over the past ten years, global R&D expenditure has expanded dramatically. (2010-2020). Globally, from 1.61% in 2010 to 1.93% in 2020, the percentage of global GDP invested on research and development has climbed significantly.

Challenges

• Side Effects Associated with Antidepressants- There are many side effects associated with antidepressants, including drowsiness, blurred vision, headaches, sexual dysfunction, and a loss of emotional stability. Furthermore, SSRIs and SNRIs can cause nausea, anxiety, indigestion, as well as a rise in blood pressure. SNRI venlafaxine is not suitable for people who have serious heart conditions.
• High Expenditure for Developing Antidepressants
• Stringent Government Regulations On Drug Approval

The global antidepressants market is segmented and analyzed for demand and supply by drug class into serotonin-norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors, tricyclic antidepressants, monoamine oxidase inhibitors, serotonin antagonist & reuptake inhibitors, and others. Out of these, the selective serotonin reuptake inhibitors segment is projected to significantly grow over the forecast period on the back of growing occurrence of major depressive and anxiety disorders. For instance, anxiety disorders affected 301 million people in 2019, including 58 million children and adolescents. The most commonly prescribed antidepressants are selective serotonin reuptake inhibitors (SSRIs). It is most widely prescribed to treat depression, especially persistent or severe cases, in conjunction with talk therapy such as cognitive behavioral therapy (CBT). Additionally, these drugs have been demonstrated to treat other psychological conditions, which are expected to propel this segment's growth over the forecast period.

Global Antidepressants Market Regional Synopsis

Regionally, the global antidepressants market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the major depressive disorder among adults, an increasing frequency of mental disorder diagnoses and treatments, a growing depression rate among geriatric populations in the United States, and rising healthcare expenditures. For instance, in the United States, an estimated 20 million adults experienced at least one major depressive episode till 2020. This figure represented 8.6% of all adults in the region. As a result, such a burden of the disease will require the introduction of effective medications and antidepressant therapies. Moreover, increased awareness of treatment for resistant depression, fast approval of antidepressants in the region, and research and development initiatives are expected to drive the regional market growth over the forecast period.

Market Segmentation

Our in-depth analysis of the global antidepressants market includes the following segments:

Top Featured Companies Dominating the Global Antidepressants Market

• AbbVie Inc.

  • Company Overview
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  • Financial Performance
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  • Risk Analysis
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  • Regional Presence
  • SWOT Analysis
• Alkermes
• Sun Pharmaceutical Industries Ltd.
• Eli Lilly and Company
• Pfizer Inc.
• Teva Pharmaceuticals Industries Ltd.
• F. Hoffmann-La Roche Ltd.
• AstraZeneca PLC
• GlaxoSmithKline plc
• Bristol-Myers Squibb Company