Fact.MR – A Market Research and Competitive Intelligence Provider: The global depression drugs market size is expected to reach US$ 20 Bn, expanding at 4% CAGR between 2021-2031.
Demand for Serotonin-norepinephrine Reuptake Inhibitors (SNRIs) in Depression Drugs Market to Grow by 2x through 2031
Fact.MR’s recent market analysis on the depression drugs market offers a comprehensive outlook of trends, opportunities, drivers, and restraints prevailing in the market. The study divulges compelling insights into segments of the market in terms of drug type, drug class, disease type, and distribution channel across seven regions.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global depression drugs market size is expected to reach US$ 20 Bn, expanding at 4% CAGR between 2021-2031. Rising awareness regarding mental health, along with government-led investments in the development of psychotropic drugs will continue augmenting the growth of the market.
As per the statistics availed by the National Institute of Mental Health Disorders, approximately 26% of American adults suffer from a diagnosable mental disorder every year. Most people suffer from more than one mental disorder at a given time, which tends to co-occur with substance abuse and anxiety disorders.
Rising incidence of social anxiety and depression disorders is spurring demand for serotonin-norepinephrine reuptake inhibitors (SNRIs). Further, introduction of innovative approaches to develop antidepressants with minimum side effects is expected to facilitate market expansion in the forthcoming years.
Further, ongoing research and development in the neuroscience sector for depression drugs have introduced new anxiety and depression treatment options. Players are aiming to capitalize on these developments by launching novel non-pharmacologic and pharmacologic therapies in the market.
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As per Fact.MR, the U.S. will remain a dominant pocket in the North America market over the assessment period. Presence of leading market players along with widespread awareness regarding mental health disorders will continue shaping the demand outlook positively.
“Rising demand for tricyclic antidepressants is expected to provide impetus to sales in the market. In addition to this, increasing sales of branded anti-depressants through online channels will continue augmenting the growth of the market through 2031,” says a Fact.MR analyst.
Key Takeaways:
- Sales of serotonin-norepinephrine reuptake inhibitors (SNRIs) are slated to grow 2x over the forecast period.
- Applications in the major depressive disorder segment are expected to gain momentum in the forthcoming years.
- Demand for antidepressants in the U.S. is poised to grow 1.5x by 2031.
- The U.K. is anticipated to emerge as an attractive market owing to growing awareness regarding mental health disorders.
- Increasing demand for atypical antipsychotics in China will place the country as a lucrative pocket in East Asia.
Growth Drivers:
- Rising availability of online counselling services for the diagnosis of anxiety and depression disorders will boost the sales.
- Growing awareness regarding mental health issues among young adults is anticipated to spur the demand for depression drugs.
Restraints:
- Side-effects caused by depression drug consumption such as nausea, vomiting, dizziness, and loss of sleep might limit sales.
- Social stigma around mental health disorders in emerging economies might hamper the growth in the market.
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Competitive Landscape
Leading players operating in the global depression drugs market are focusing on research and development to develop new formulations and drugs, catering to a growing consumer pool. In addition to this, players are investing in mergers, acquisitions, collaborations, and partnerships to gain a competitive edge in the market.
For instance, in June 2021, Sumitomo Dainippon Pharma Co., Ltd. and Nippon Chemiphar Co. Ltd. announced a joint R&D and clinical study agreement for the novel antidepressant drug candidate NC-2800.
Key Players in the Depression Drugs Market Include:
- Johnson and Johnson
- Sebela Pharmaceutical Inc.
- Takeda Pharmaceutical Company Ltd.
- GlaxoSmithKline
- Novartis AG
- Allergan USA Inc.
- AstraZeneca
- Pfizer Inc.
- Eli Lilly and Company
- Otsuka Pharmaceutical Co. Ltd.
- Alkermes Plc
- Bristol Myers Squibb Co.
- H. Lundbeck
- Teva Pharmaceutical Industries Ltd.
More Valuable Insights on Depression Drugs Market
Fact.MR provides an unbiased analysis of the antidepressant drugs market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global depression drugs market with a detailed segmentation on the basis of:
Drug Type:
- Generic Depression Drugs
- Branded Depression Drugs
Drug Class:
- Serotonin-norepinephrine Reuptake Inhibitors (SNRIs)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Atypical Antipsychotics
- Central Nervous System (CNS) Stimulants
- Tricyclic Antidepressants
- Monoamine Oxidase Inhibitors
Disease Type:
- Major Depressive Disorder
- Obsessive-Compulsive Disorder
- Generalized Anxiety Disorder
- Panic Disorder
- Schizophrenia
- Bipolar 1 Disorder
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regions:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions Covered in Depression Drugs Market Report
- The report offers insight into the depression drugs market demand outlook for 2021-2031.
- The market study also highlights projected sales growth for depression drugs market between 2021 and 2031.
- Depression drugs market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Depression drugs market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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