DUBLIN--(BUSINESS WIRE)--The "Antidepressant Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global antidepressant market is expected to register a CAGR of nearly 2.1% during the forecast period, 2019-2024.
The major factors for the growth of the global antidepressant market include the rising cases of depression, increasing awareness about depression, and the emergence of novel biologics.
Globally, more than 300 million people across all age groups suffer from depression, and this number is rising at a fast pace. The increase in the number of young adults affected by some form of depression is as high as 8%. Depression due to factors, such as social isolation and stressful work environment has contributed the most toward increasing the number of people suffering from depression.
The number of people falling prey to depression and related disorders is expected to continue to increase, as a result of improper eating habits, stressful work schedule, increasing isolation from family and loved ones due to technology, and the inability to adapt to the rapid pace, at which, the world is moving forward.
In countries, such as the United Kingdom and the United States, which are characterized by their fast-paced economies, the percentage of 'affected population' in every age group is quite high. In addition, increasing aged population across the world enhances the potential of the market studied over the forecast period.
According to the estimates of WHO, in 2015, 322 million people were suffering from depression, globally, and nearly half the number of these people belong to the Southeast Asian region and the Western Pacific region. Thus, the rising cases of depression across the world are expected to drive the overall growth of the market studied over the forecast period.
Key Market Trends
Major Depressive Disorder Segment by Depressive Disorder is Expected to Account for the Largest Market Share During the Forecast Period
The major depressive disorder possible causes comprise of the combination of biological, psychological, and social sources of distress. The major risk factors include family history, significant life changes, certain medications, chronic health problems, and substance abuse.
As per the data published by the National Institute of Mental Health, an estimated 16.2 million adults in the United States had at least one major depressive episode. This number represented 6.7% of all US adults and is majorly prevalent in women as compared to men. Most commonly, selective serotonin reuptake inhibitors (SSRI) are used in the treatment of major depression, while there are some therapies available to normalize brain changes associated with depression. Thus, owing to the rising number of the patient pool, the market is expected to witness high growth over the forecast period.
North America accounted for the Largest Share in the Global Market
The increasing cases of depression is one of the major factors that is expected to drive the overall growth of the US antidepressant market over the forecast period. Moreover, there is a rise in the geriatric population in the United States, which is expected to create more opportunities for market players in the region. Women are twice as likely to be affected by generalized anxiety disorder (GAD) when compared to men.
Six million adults, or 2.7% of the US population suffer from panic disorders, and around 2.2 million or 1% of the US population suffer from obsessive-compulsive disorder (OCD), which is found to be equally common among men and women. The two major factors leading to the rise in the consumption of antidepressants are the course of the treatment lasting longer than it used to be, and the antidepressants that are currently being prescribed are not only for severe depression, but also for mild depression, anxiety, social phobia, and more. The increasing prevalence of disorders and increasing rate of consumption of antidepressants are expected to drive the market studied during the forecast period.
The market studied comprises of a combination of multinational and domestic players. The entry barriers are comparatively less, and most of the drugs are available over the counter. The companies are trying to expand their geographical presence by partnerships or acquisitions. Some of the key players in the market are Allergan PLC, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline PLC, H. Lundbeck AS, Johnson & Johnson, and Pfizer Inc.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Cases of Depression
4.2.2 Increasing Awareness about Depression
4.2.3 Emergence of Novel Biologics
4.3 Market Restraints
4.3.1 Preference of Non-pharmacological Therapies over Pharmacological Therapies
4.3.2 Side-effects and Patent Expiry of Antidepressant Drugs
4.4 Porter's Five Forces Analysis
5 Market Segmentation
5.1 By Product
5.1.1 Selective Serotonin Reuptake Inhibitor (SSRI)
5.1.2 Serotonin-norepinephrine Reuptake Inhibitor (SNRI)
5.1.3 Tricyclic Antidepressant (TCA)
5.1.4 Monoamine Oxidase Inhibitor (MAOI)
5.1.5 Other Products
5.2 By Depressive Disorder
5.2.1 Major Depressive Disorder
5.2.2 Obsessive-compulsive Disorder (OCD)
5.2.3 Generalized Anxiety Disorder (GAD)
5.2.4 Panic Disorder (PD)
5.2.5 Other Depressive Disorders
5.3.1 North America
5.3.4 Middle East & Africa
5.3.5 South America
6 Competitive Landscape
6.1 Company Profiles
6.1.1 Allergan PLC
6.1.3 Eli Lilly and Company
6.1.4 GlaxoSmithKline PLC
6.1.5 H. Lundbeck AS
6.1.6 Johnson & Johnson
6.1.7 Merck & Co. Inc.
6.1.8 Pfizer Inc.
6.1.10 Sun Pharmaceuticals Pvt. Ltd.
7 Market Opportunities and Future Trends
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