SAN FRANCISCO, July 28, 2017 (GLOBE NEWSWIRE) -- The Global Depression Drug Market Report by Variant Market Research estimates that global market is projected to reach $18 Billion by 2024, from $15 billion in 2016; growing at a CAGR of 2.6% from 2016 to 2024. The report will include detailed analysis of the depression drug market with respect to major segments such as product, application and geography. Depression is a serious illness that can cause significant problems in thinking, mood, and behavior, at school, home, and with peers. The most common factors that cause depression are brain chemistry and stress. Antidepressants are central nervous system treatments used to treat diseases such as major depressive disorder (MDD), and seasonal affective disorder.
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Increasing prevalence of depression related disorders in young adults will drive the global depression drug market
The global Depression Drug market is driven by factors such as growing geriatric population, increasing knowledge regarding depression drug, rising efficiency and declining side effect of the drug. However, patent expiry of main antidepressants and the rising number of generic drugs may hamper the growth of the depression drug market. Additionally, initiative taken by government organizations, increasing financing in research and development and market expansion would provide new business opportunities in the coming years. Antidepressant reduces suicidal thinking and behavior and improves mood in some persons. The FDA has approved safety drug use in teenagers such as fluoxetine (Prozac) and escitalopram (Lexapro), which may also propel the growth of the market. Antidepressants decrease serotonin levels in the brain including psychological as well as biological factors caused by depression in teenagers.
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Market Segmentations
The depression drug market has been divided into product, application and geography. Product can be segmented into tetracyclic antidepressants (TeCAs), serotonin-norepinephrine reuptake inhibitors (SNRIs), Atypical Antipsychotics, selective serotonin reuptake inhibitors (SSRIs), Tetracyclic Antidepressant, benzodiazepines, monoamine oxidase inhibitors (MAOIs) and others. Application is further divided into clinics and hospitals and research centers. By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Serotonin-norepinephrine reuptake inhibitors (SNRIs) dominated type segment of the market
Antidepressant SNRIs help relieve depression symptoms, essentially sadness and irritability. These neurotransmitters are known to affect mood. Serotonin is also called a “feel-good” because it is accompanied by positive feelings of wellbeing. Norepinephrine is associated to alertness and energy. SNRIs help treat depression by maintaining the levels of these two neurotransmitters in brain. They do this by discontinuing norepinephrine and serotonin from going back into the cells that released them.
North America Region held the largest share of the market in the year of 2016
North America emerged as major regional market, driven by the presence of a large population base suffering from numerous kinds of depression and fretfulness disorders. Moreover, Asia-Pacific is expected to witness the fastest CAGR during the forecast period, 2016 - 2024, owing to the presence of emerging countries such as China, Japan, and Australia. Growing awareness among the population regarding benefits of depression drugs, novel medicines, and positive marketing approval is also expected to boost the growth of the depression drug market in the region.
Competitive Landscape
The major players of the market are following the new product launch strategy to sustain the competitive environment. For instance, in June 2017, Lupin Ltd, a pharmaceutical company has launched its anti-depressant bupropion hydrochloride as well as extended release tablets, essentially used for treatment of major depressive disorder in the US market. Moreover, the key players in the market include, Merck & Co., H. Lundbeck A/S, SK Biopharmaceuticals, Novartis, Forest Laboratories, AstraZeneca, Lupin Ltd, GlaxoSmithKline, Allergan, Plc, and Eli Lilly and Co, among others.
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Scope of Depression Drugs Market
Product Type Segments
- Tricyclice Antidepressants
- Serotonin-Norepinephrine Inhibitors
- Atypical Antipsychotics
- Selective Serotonin Reuptake Inhibitors
- Benzodiazepines, Tetracyclic Antidepressants
- Monoamine Oxidase Inhibitors
- Others
Application Segments
- Clinics and Hospitals
- Research centres
Geographical Segments
- North America
• US
• Canada
• Mexico - Europe
• Germany
• France
• United Kingdom
• Spain
• Others - Asia-Pacific
• China
• India
• Japan
• South Korea
• Others - RoW
• South America
• Middle East
• Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data packs proposing market sizing in an Excel/PDF/PowerPoint or Word format, as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial Services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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