Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "Obsessive-Compulsive Disorder Drugs Market by Sub-Type, Drugs, Route of Administration, Population Type, End-user, and Region" report has been added to ResearchAndMarkets.com's offering.
The global obsessive-compulsive disorder drugs market accounted for USD 1.06 billion in 2023 and is expected to reach USD 3.09 billion by 2034 with a CAGR of 10.23% during the forecast period 2024-2034. The market is going to grow as a result of rising OCD prevalence, rising awareness and diagnosis rates, expanding treatment options, government support and initiatives, and personalized medicine techniques.
Treatment options for OCD patients have increased due to the emergence of novel medications and therapies, such as CBT, selective serotonin reuptake inhibitors (SSRIs), and serotonin-norepinephrine reuptake inhibitors (SNRIs). The creation of more precise and effective treatments is being fueled by ongoing research and innovation in the fields of neuroscience and pharmacology, which is propelling market expansion. For instance, Eli Lilly reported encouraging findings from a Phase 3 clinical trial assessing its experimental medication for the treatment of OCD in January 2023.
North America is anticipated to have the highest revenue share during the forecast period owing to the higher prevalence of OCD, well-established healthcare infrastructure, greater awareness about mental health disorders, and increased adoption of pharmacological interventions in the North American region. Additionally, Asia Pacific is predicted to grow at the fastest CAGR during the forecast period owing to the growing recognition of mental health issues, rising disposable income, increasing healthcare expenditure, and improving access to treatment in the Asia Pacific region. For instance, AbbVie declared that effective in November 2023, a Phase 3 program would assess a possible OCD treatment.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Sub-Type, Drugs, Route of Administration, Population Type, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- Eli Lilly and Company
- Pfizer Inc.
- Johnson & Johnson
- AbbVie Inc.
- GlaxoSmithKline plc
- Novartis AG
- Bristol Myers Squibb
- AstraZeneca PLC
- Lundbeck A/S
- Allergan plc
- Otsuka Pharmaceutical Co. Ltd.
- H. Lundbeck A/S
- Sumitomo Dainippon Pharma Co. Ltd.
- Boehringer Ingelheim International GmbH
- Mylan N.V.
Obsessive-Compulsive Disorder Drugs Market Analysis & Forecast, by:
Sub-Type 2023-2034 (Revenue USD Bn):
- Contamination Obsessions with Washing/Cleaning Compulsion
- Harm Obsessions with Checking Compulsions
- Obsessions Without Visible Compulsions
- Symmetry Obsessions With ordering
- Arranging and Counting Compulsions
- Hoarding
- Others
By sub-type, the contamination obsessions with washing/cleaning compulsions segment accounted for the highest revenue-grossing segment in the global obsessive-compulsive disorder drugs market in 2023 owing to the increased awareness of hygiene practices due to the COVID-19 pandemic, driving heightened demand for treatments targeting contamination-related OCD symptoms. For instance, in August 2023, Talkiatry and NOCD announced a strategic partnership aimed at improving accessibility and outcomes for OCD sufferers. Through this collaboration, they will be able to easily connect with psychiatrists and therapists who specialize in treating the condition. Additionally, the obsessions without visible compulsions segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing recognition of the complexity of OCD presentations, leading to improved diagnostic methods and targeted therapeutic approaches tailored to address underlying obsessions without visible compulsions.
Drugs 2023-2034 (Revenue USD Bn):
- Antidepressants
- Antipsychotics
- NMDA Blocker
- Others
By drugs, the antidepressants segment accounted for the highest revenue-grossing segment in the global obsessive-compulsive disorder drugs market in 2023 owing to the well-established efficacy of antidepressants, particularly selective serotonin reuptake inhibitors (SSRIs), as first-line pharmacological treatments for OCD, supported by extensive clinical evidence and guidelines recommending their use as a primary therapeutic option. For instance, in March 2023, Novartis stated that it will be working with a biotech business to create innovative treatments for mental illnesses, such as OCD. Additionally, the NMDA blockers segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing interest in novel treatment mechanisms targeting glutamatergic dysfunction, with NMDA blockers showing promise in addressing treatment-resistant OCD cases and providing new therapeutic options for patients.
Route of Administration 2023-2034 (Revenue USD Bn):
- Oral
- Parenteral
By route of administration, the oral segment accounted for the highest revenue-grossing segment in the global obsessive-compulsive disorder drugs market in 2023 owing to the convenience, ease of administration, and patient preference for oral formulations, driving widespread adoption and revenue generation in the OCD drug market. For instance, in October 2022, AstraZeneca released encouraging Phase 3 study data for a possible therapy for OCD. Additionally, the parenteral segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for rapid onset of action, improved bioavailability, and the development of innovative parenteral formulations catering to specific patient needs and preferences.
Population Type 2023-2034 (Revenue USD Bn):
- Pediatrics
- Adult
By population type, the adult segment accounted for the highest revenue-grossing segment in the global obsessive-compulsive disorder drugs market in 2023 owing to the higher prevalence of OCD among adults compared to other age groups, driving greater demand for pharmaceutical interventions tailored to meet the specific needs of adult patients. For instance, in February 2023, Lundbeck reported that a new OCD therapy application had been submitted to the FDA. Additionally, the pediatrics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of OCD in children and adolescents, coupled with efforts to improve early diagnosis and access to treatment, driving the demand for pediatric-specific OCD drugs and therapies.
End-User 2023-2034 (Revenue USD Bn):
- Hospitals
- Specialty Clinics
- Home Healthcare
- Others
By end-user, the hospitals and specialty clinics segment accounted for the highest revenue-grossing segment in the global obsessive-compulsive disorder drugs market in 2023 owing to the increased availability of specialized mental health services and facilities in hospitals and specialty clinics, facilitating diagnosis, treatment, and management of OCD, thus driving higher revenue in this segment. For instance, in October 2022, AstraZeneca released encouraging Phase 3 study data for a possible therapy for OCD. Additionally, the home healthcare segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising preference for home-based treatment options, advancements in telemedicine, and efforts to increase access to mental health services outside traditional healthcare settings, driving growth in the home healthcare segment for OCD drug delivery and management.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $1.06 Billion |
| Forecasted Market Value (USD) by 2034 | $3.09 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ws4jo6
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