Antidepressant Drugs Market

SKU: DM1787 | Last Updated On: Sep 09 2022 | Available Formats

> Antidepressant Drugs Market Expected to reach a high CAGR of 5.4% By 2029: DataM Intelligence

Antidepressant Drugs Market is segmented By Drug Class (Monoamine oxidase inhibitors, Norepinephrine-Dopamine Reuptake Inhibitor, Serotonin-norepinephrine reuptake inhibitors, Selective serotonin reuptake inhibitors, Tricyclic antidepressants and others), By Depression Disorder (Major depressive disorder, Obsessive-compulsive disorder, Generalized anxiety disorder, Panic disorder and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Antidepressant Drugs Market is expected to reach a high CAGR of 5.4 during the forecasting period (2022-2029).

Antidepressant Drugs Market Scope

Metrics

Details

Market CAGR

5.4%

Segments Covered

By Drug Class, By Depression Disorder, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Antidepressants are medications that can help relieve depression symptoms. The objective is to correct the chemical imbalances of neurotransmitters in the brain that are believed to be responsible for changes in behavior and mood. They can also treat several other conditions, including generalized anxiety disorder, obsessive-compulsive disorder (OCD), and post-traumatic stress disorder (PTSD), and are sometimes used when treating people with chronic pains. Although antidepressants can treat the symptoms of depression, they don't address the causes, hence are typically used in combination with other therapies.

Market Dynamics

The global market for antidepressant drugs is primarily driven by the increase in the prevalence of depression, raising awareness regarding depression, and required clinical needs.

The increasing prevalence of depression worldwide is expected to drive market growth.

According to the World Health Organization, depression is a prevalent disorder affecting an estimated 3.8% of the global population, including 5.0% of adults and 5.7% of persons over 60. Depression affects around 280 million people worldwide. It can cause severe pain and impair work, school, and family performance. Depression, at its worst, can lead to suicide. Every year, around 700,000 people commit suicide. Suicide will be the fourth greatest cause of mortality among 15-29-year-olds in 2021.

Furthermore, the growing number of people suffering from stress, the advent of novel medications with fewer adverse effects, and the growing older population susceptible to subsyndromal depression are likely to boost the market even further. Therefore, it has increased the demand for antidepressant drugs. Thus, from the above statements, the market is expected to drive in the forecast period.

Restraint:

However, the preference for non-pharmacological therapies over pharmacological therapies, its reduced efficacy, and patent expiry of antidepressants leading to a weak pipeline may hinder market progress.

Industry Analysis

The antidepressant drugs market provides in-depth analysis of the market based on various industry factors such as unmet needs, pricing analysis, supply chain analysis, regulatory analysis, epidemiology etc.

COVID-19 Impact Analysis

During the COVID-19 pandemic, the globe faced tremendous changes in how it learns, works, and lives, with a huge influence on mental health. In most countries, anxiety and depression levels were greater in March and April 2020 than in previous years. For instance,  a study was conducted in Germany early in the pandemic, with more than 50% of participants experiencing psychological distress and anxiety. Unemployed people and those experiencing economic difficulties have higher rates of anxiety and depression than the general population. Moreover, young people's mental health deteriorated dramatically, with a sharp spike in symptoms of worry and sadness in late 2020 and early 2021. So that several studies confirm that the COVID-19 pandemic, in addition to increasing viral infection mortality, triggered a sharp increase in mental health problems, an increase in antidepressant consumption is expected in the coming years, supported by this being used as first-line therapy for these disorders.

Additionally, an English investigation discovered that antidepressant drug distribution peaked by March 2020, coinciding with the World Health Organization's official COVID-19 pandemic announcement. There was an increase in antidepressant dispensing, with an additional 92 million units dispensed from January 2020 to August 2020; however, there was a statistical increase of 5.78% in antidepressants prescribed and dispensed in the same quarter of the year compared to the same quarter of the year 2019. Therefore, during the COVID-19 pandemic, the consumption of SSRIs increased worldwide. In contrast, the COVID-19 pandemic has put the pharmaceutical industry's supply chain to the test, resulting in several medicine shortages. The antidepressant Zoloft and its generics are in low supply for people with mental illness. According to the FDA, many drugmakers are having difficulty keeping up with increased demand, while others cannot get active pharmaceutical ingredients (APIs) to manufacture the medicine. Thus, the market got affected moderately. However, the situation is expected to improve gradually in the forecast period.

Segment Analysis

Selective serotonin reuptake inhibitors (SSRIs) segment is expected to hold the largest market share in the antidepressant drugs market.

The selective serotonin reuptake inhibitors (SSRIs) segment accounted for the largest market share in 2021. The most widely used antidepressants are selective serotonin reuptake inhibitors (SSRIs). They can alleviate symptoms of moderate to severe depression, are relatively safe, and have fewer adverse effects than other forms of antidepressants. Selective serotonin reuptake inhibitors (SSRIs) function by inhibiting serotonin reuptake specifically. In addition, SSRIs are sometimes used to treat obsessive-compulsive disorder (OCD), generalized anxiety disorder (GAD), eating disorders, premature ejaculations, and depression. They've also helped people recover from strokes. For instance, Prozac (fluoxetine) is still among the most popular SSRIs in the United States. It's one of the only FDA-approved for children and teenagers. Therefore, there is an increase in demand for SSRIs drugs. ​

Geographical Analysis

North American region is expected to hold the largest market share in the global antidepressant drugs market.

The increasing prevalence of depressive disorder, raising awareness about therapies for mental disorders, increasing approvals for antidepressant drugs and the presence of key players are the factors to drive the market in the forecast period. For instance, On August 22, 2022, Axsome Therapeutics Inc received FDA approval for its depression medicine, providing more than 20 million Americans with the illness with a new option in a market congested with older drugs. Auvelity is a new kind of medicine that lowers depression symptoms in as little as one week, providing it a potential advantage over traditional antidepressants, which can take up to six weeks to show effect. Moreover, Pharmascience Canada, a part of Pharmascience Inc., launched its new generic medication pms-LURASIDONE on the Canadian market in May 2022. Pms-LURASIDONE is approved as monotherapy for treating schizophrenia symptoms in adults and adolescents (15-17 years of age). It is also approved for acutely treating depressive episodes associated with bipolar disorder in adults and adolescents (13-17 years of age). Thus, from the above statements, the North American region accounted for the largest market share in the forecast period.

Competitive Landscape

Major key players in the antidepressant drugs market are Allergan plc., AstraZeneca PLC, GlaxoSmithKline plc, Pfizer Inc., Eli Lilly & Company Ltd., Johnson & Johnson, Takeda Pharmaceutical Co. Ltd., H. Lundbeck AS, Otsuka Holdings Co., Ltd., Novartis AG.

Pfizer Inc.:

Overview:

Pfizer Inc. is an American multinational pharmaceutical company that offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. It has a portfolio of over 150 products across 15 therapeutic areas. The company develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology.

­Product Portfolio:

PRISTIQ: PRISTIQ is a prescription medicine used to treat adults with a certain type of depression called major depressive disorder (MDD). PRISTIQ belongs to a class of medicines known as serotonin and norepinephrine reuptake inhibitors (SNRIs).

The global antidepressant drugs market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.

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