PORTLAND, Ore., March 8, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Antidepressant Drugs Market by Product (Tricyclic Antidepressants, Selective Serotonin Reuptake Inhibitors, Serotonin-Norepinephrine Reuptake Inhibitors, Monoamine Oxidase Inhibitors, Serotonin Antagonist & Reuptake Inhibitors, and Others), Depressive Disorder (Major Depressive Disorder, Obsessive-Compulsive Disorder, Generalized Anxiety Disorder, Panic Disorder, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global antidepressant drugs industry was estimated at $15.65 billion in 2020, and is anticipated to hit $21.00 billion by 2030, registering a CAGR of 3.0% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Rise in prevalence of depression, increase in awareness regarding depression, and advancements in R&D activities in the healthcare sector fuel the growth of the global antidepressant drugs market. On the other hand, certain side-effects associated with the same restrain the growth to some extent. However, surge in awareness regarding depression, and advancements in R&D activities in the healthcare sector are expected to create lucrative opportunities in the industry.
- The spread of COVID-19 infection increased the fear of social isolation and gave way to loneliness, thereby leading to major depressive disorders, especially during the initial period. This, in turn, impacted the antidepressant drugs market positively.
- This trend is quite likely to continue till the pandemic is completely over.
The selective serotonin reuptake inhibitors segment to dominate by 2030-
Based on product, the selective serotonin reuptake inhibitors segment held the major share in 2020, accounting for nearly one-third of the global antidepressant drugs market. The same segment would also register the fastest CAGR of 3.8% from 2021 to 2030. This is attributed to huge advancements in R&D activities in the healthcare sector.
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The major depressive disorder segment to maintain the dominant share-
Based on depressive disorder, the major depressive disorder segment contributed to nearly two-fifths of the global antidepressant drugs market revenue in 2020, and is projected to lead the trail throughout the forecast period. Rise in prevalence of major depressive disorder and initiatives taken by governments and private organizations about development of drugs propel the growth of the segment. However, the obsessive-compulsive disorder segment, however, is projected to grow at the fastest CAGR of 4.2% from 2021 to 2030. Increase in prevalence of mental disorder and rise in the number of approvals for anxiety drugs drive the segment growth.
North America, garnered the highest share in 2020-
Based on region, the market across North America, contributed to the highest share in 2020, accounting for more than half of the global antidepressant drugs market, due to rise in prevalence of depression disorders, increase in number of approval for antidepressant drugs, presence of key players, and development in R&D activities in the healthcare sector in North America. The Asia-Pacific region, on the other hand, is also expected to showcase the fastest CAGR of 4.9% during the forecast period, owing to increase in prevalence of mental disorder, rise in awareness regarding depression, growth in health care expenditures, and surge in the number of clinical trials across the province.
Key players in the industry-
- Eli Lilly And Company
- GlaxoSmithKline, Inc.
- H. Lundbeck A/S
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd. (Actavis Generics)
- Alkermes Plc
- Takeda Pharmaceutical Limited Company
- Merck KGAA
- AbbVie Inc.
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SOURCE Allied Market Research