Noradrenergic Drug Market - Regional Analysis
APAC Market Insights
The Asia Pacific industry is estimated to account for largest revenue share of 37% by 2035. The growth of the market can be attributed majorly to the increasing popularity of antidepressants among the adult population in the region. For instance, an increasing number of adults across Asia are affected with diagnosable mental illnesses, owing to stressful life events, such as money issues, the death of a loved one, or a divorce. These days, antidepressants are one of the drugs that are most frequently prescribed, especially to elderly people. Noradrenergic drugs are used largely as antidepressants. They are utilized as a treatment for several ailments, such as ADHD, depression, and low blood pressure. Further, among people with major depressive illness, antidepressants are more effective. In addition, rising depressive disorders in the region, are also anticipated to boost the market growth during the forecast period. Over 2% of the adult population in Singapore, and more than 10% in Vietnam & Thailand suffer from a diagnosable mental disorder at any given time.
North American MMarket Insights
The North American noradrenergic drug market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the rising numbers of people with autism spectrum disorders (ASD). For instance, an increase in ASD cases, particularly in the population of children, and the introduction and quick acceptance of several ASD medications in the region, are also anticipated to contribute to the market growth in the region. Moreover, given that noradrenergic drugs are used to treat autism, the demand for them in the region is anticipated to rise. In 2018, more than 2% of American children, were diagnosed with an autism spectrum disorder.
Europe Market Insights
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the growing awareness of mental disorders. For instance, anxiety disorder is the most prevalent mental illness among EU nations. The social and financial repercussions of mental health issues are becoming more widely recognized in the region. Further, the European Mental Health Action Plan puts a strong emphasis on seven interconnected goals and suggests practical solutions to improve mental health and well-being. In addition, the region's expanding healthcare industry is also anticipated to boost market growth during the forecast period.
