Antidepressant Drugs Market

Antidepressant Drugs Market Insights 2030:

The global antidepressant drugs market size was valued at $15,651.0 million in 2020, and is projected to reach $21,004.8 million by 2030, registering a CAGR of 3.0% from 2021 to 2030. Antidepressants drugs are a class of drugs that helps to relieve depression symptoms. Major depressive disorder is a global health crisis and has become the leading cause of disability, affecting over 300 million people worldwide.

The COVID-19 outbreak is anticipated to have a positive impact on growth of the global antidepressant drugs market. The COVID-19 pandemic has stressed healthcare systems in the world and increased the need for advanced hospitals. Implementation of the spread of COVID-19 infection increased the fear of social isolation, and loneliness, which is the main reason for major depressive disorders.

Antidepressant drugs act by increasing levels of excitatory neurotransmitters or nerve cell chemicals that act as messengers in nervous system. These drugs are also use to treat a wide range of conditions, such as generalized anxiety disorder, obsessive-compulsive disorder (OCD), and post-traumatic stress disorder (PTSD). It is also used for treatment of people with chronic pains. Antidepressant drugs may be prescribed as a first-line treatment for depression or in conjunction with other methods of controlling depression, such as behavioral therapy and exercise. 

The global market for the antidepressant drugs is primarily driven by increase in prevalence of depression, rise in awareness regarding depression, and advancements in R&D activities in the healthcare sector drive the market. According to the World Health Organization (WHO), in 2021, it was reported that around 5% of adult are diagnose with depression. Antidepressant drugs act by maintaining the balance of various hormones and chemicals in the brain.

Major factors that contribute toward growth of the antidepressant drugs market is increase in prevalence of life-threatening diseases such as major depressive disorder, obsessive-compulsive disorder, generalized anxiety disorder, and panic disorder. Moreover, rise in geriatric population and higher adoption of antidepressant drugs drive growth of the market. Furthermore, increase in number of approvals for antidepressant drugs drive growth of the market. For instance, in May 2020, Food and Drug Administration (FDA) announced the approval of Tauvid, which is an antidepressant drug used for treatment of patients with Alzheimer disease.

Impact Of Covid-19 On Antidepressant Drugs Market (Pre And Post Analysis)

In addition, increase in number of clinical studies for evaluating safety and efficiency of a wide range of therapeutic drugs is anticipated to contribute toward growth of the market.  For instance, in January 2022, Pacific Neuroscience Institute (PNI), announced the launch of psilocybin clinical trial for depression. This study aims to analyze safety and efficacy of psilocybin for treatment of major depressive disorders.

Moreover, according to the U.S. National Library of Medicine (NIH), it was reported that randomized placebo controlled clinical trial are conducted on fluvoxamine, which is an antidepressant drugs to analyze the effect on COVID-19 infection. It was analyzed that fluvoxamine is beneficial to reduce the risk of hospitalization & death rate by COVID-19 patients.

Furthermore, technological development in the pharmaceutical industry to manufacture advanced antidepressant drugs is expected to provide remunerative opportunities for expansion of the global antidepressant drugs market during the forecast period. Moreover, presence of key manufacturing companies to manufacture antidepressant drugs propel growth of the market.

In addition, initiatives taken by governments and private organizations to develop the pharmaceutical industry propel growth of the market. However, the side effect of antidepressant drugs such as feeling agitated, anxious, constipation, dizziness, and headache is expected to restrict the antidepressant drugs market growth during the forecast period.

Global Antidepressant Drugs Market Segmentation

The global antidepressant drugs market is segmented on the basis of product, depressive disorder, and region. By product, the market is categorized into tricyclic antidepressants, selective serotonin reuptake inhibitors, serotonin norepinephrine reuptake inhibitors, monoamine oxidase inhibitors, serotonin antagonist & reuptake inhibitors, and others. 

On the basis of depressive disorder, it is divided into major depressive disorder, obsessive-compulsive disorder, generalized anxiety disorder, panic disorder, and others.

Region wise, the antidepressant drugs market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment Review

Depending on product, the selective serotonin reuptake inhibitors segment dominated the antidepressant drugs market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in R&D activities in the healthcare sector and increase in prevalence of major depressive disorder and anxiety disorders. However, the serotonin norepinephrine reuptake inhibitors segment is expected to witness considerable growth during the forecast period, owing to increase in prevalence of chronic neuropathic pain, and obsessive–compulsive disorder (OCD).

By depressive disorder, the major depressive disorder segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in prevalence of major depressive disorder and initiatives taken by governments and private organizations about development of drugs. However, the obsessive-compulsive disorder segment is expected to witness considerable growth during the forecast period, owing to increase in prevalence of mental disorder and increase in number of approval for anxiety drugs.

North America garnered a major share in the antidepressant drugs market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of depression disorder, increase in number of approval for antidepressant drugs, presence of key players, and development in R&D activities in the healthcare sector in the region. However, Asia-Pacific is expected to register highest CAGR of 4.9% from 2021 to 2030, owing to increase in prevalence of mental disorder, rise in awareness regarding depression, growth in health care expenditures, and increase in number of clinical trials. 

The key players operating in the global antidepressant drugs market include Alkermes Plc, AbbVie Inc., Eli Lilly And Company, GlaxoSmithKline, Inc., H. Lundbeck A/S, Merck KGAA, Pfizer Inc., Teva Pharmaceutical Industries Ltd. (Actavis Generics), and Takeda Pharmaceutical Limited Company.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the antidepressant drugs market, and the current trends & future estimations to elucidate imminent investment pockets.
• It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing antidepressant drugs market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the antidepressant drugs market.

 Antidepressant Drugs Market Report Highlights