Antidepressants are the class of drugs that reduce the symptoms of depressive disorders by modifying chemical imbalances of neurotransmitters in the brain. However, chemical imbalances may be responsible for changes in mood and behavior. Antidepressants are used to treat different conditions such as generalized anxiety disorder, depression, agitation, obsessive compulsive disorders (OCD), manic-depressive disorders, childhood enuresis (bedwetting), major depressive disorder, diabetic peripheral neuropathic pain, social anxiety disorder, neuropathic pain, posttraumatic stress disorder (PTSD) etc. For instance, according to the World Health Organization (WHO), in 2018, it was estimated that more than 300 million people suffered from depression and 260 million suffer from anxiety disorders and many of the people live with both the conditions. Depressive Disorder Is Expected To Drive the Market Serotonin and noradrenaline reuptake inhibitors (SNRIs) are used to treat major depression, mood disorders, and possibly but less commonly attention deficit hyperactivity disorder (ADHD), obsessive-compulsive disorder (OCD), anxiety disorders, menopausal symptoms, fibromyalgia, and chronic neuropathic pain. The increasing number of suicide and anxiety, stress, dementia, schizophrenia are increasing demand for antidepressants in the coming years. For instance, according to WHO, in 2018, 25% of the population suffer from depression or anxiety in U.K. Increasing Prevalence of Mental Disorders The increasing prevalence of mental disorders such as anxiety, depression, stress, dementia, schizophrenia, post-traumatic, stress disorder is driving the growth of the antidepressant market. For instance, according to the Centers for Disease Control and Prevention (CDC), it was estimated that suicide cases are on the rise in the U.S especially with females with age group of 10-14 and 45-64. It is also predicted that more than 19.4% Americans (1 in 8) took at least one antidepressant in 2017. Furthermore, the increasing number of suicides owing to the rising prevalence of depression is supporting the growth of the market. Increase in Awareness about Depression Furthermore, growing awareness related to the disease state and required clinical needs, and an increasing number of people suffering from stress can boost market growth. A growing percentage of crimes such as sexual abuse, femicide and violence are increasing the incidences of depression. Similarly, tremendous diagnosis of cancer and tumor patients that rises the incidence of depression among cancer, therefore, people are more conscious about mental health. North America Is Expected To Hold the Major Market Share North America is expected to dominate the global antidepressant drugs market during the forecast period. This is attributed to increasing level of the disorders in adults suffering from stress, suicidal feelings, serious psychological disorders, and anxiety drives the market in this region. According to the Anxiety and Depression Association of America, it estimated that anxiety disorders are the most common mental illness in the U.S, affecting 40 million adults in the U.S more than 18 and older. Apart from this, there are some factors responsible to drive the market such as growing healthcare expenditure, the addition of new drugs, increasing disposable incomes, and the growing number of hospitals & clinics. Furthermore, increasing number of central nervous system disease incidences is propelling the growth of the market. For instance, in March 2016, Pfizer Inc. has launched a new antidepressant Effexor. Effexor is mainly designed for consumption even before symptoms emerge. It is aimed that individuals who are deemed “high risk” for acute depression due to family history, an acute trauma, or a variety of other factors. Additionally, for instance, in June 2017, Drug firm Lupin launched its antidepressant Bupropion Hydrochloride extended release tablets used for the treatment of major depressive illness in the US market.
Market Research Vision is a leading market research and market intelligence organization, specializing in research, analytics, and advisory services along with providing business insights & market research reports. Serving as a market research firm, we help our clients in finding: what’s next? We believe in finding creative and innovative solutions through customized and syndicated research reports.