Pune, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Antidepressants Market Size & Growth Analysis:
"According to SNS Insider, The Antidepressants Market Size was valued at USD 19.92 Billion in 2023 and is projected to reach USD 37.44 Billion by 2032 and grow at a CAGR of 7.66% over the forecast period 2024-2032."
The high prevalence of mental disorders is driving demand for antidepressants. Anxiety disorders, with 40 million new cases annually, are the most common mental illness in the United States, affecting about 18.1 percent of the population. According to the World Health Organization, approximately 7.5 percent of people in India experience a mental disorder each year, with depression impacting an estimated 56 million individuals annually. This growing number of mental health conditions, particularly depression, and the focus on early diagnosis are increasing demand, presenting a profitable opportunity for the development of new and advanced drugs in the market. Market players are prioritizing research and development (R&D) efforts to create novel treatment options for nervous system-related mental disorders. Additionally, exploring new therapeutic molecules or combining existing therapies shows promising potential for lucrative opportunities. The international and government-funded healthcare sectors are supporting the development and production of mental health products. Market competitors are collaborating with foreign and state-owned research institutions to foster innovation and create new products.
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Key Antidepressants Companies:
- GlaxoSmithKline PLC
- AbbiVe Inc.
- Sun Pharmaceuticals Pvt. Ltd
- Eli Lilly and Company
- Johnson & Johnson
- Pfizer Inc.
- Merck & Co. Inc.
- Sanofi
- AstraZeneca
- Dr. Reddy's Laboratories
- H. Lundbeck AS
- Other players
Antidepressants Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 19.92Billion |
| Market Size by 2032 | US$ 37.44 Billion |
| CAGR | CAGR of 7.66% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmental Insights
The demand for antidepressants is increasing due to the rising prevalence of Major Depressive Disorder (MDD) among people, which holds 35% in 2023. Adolescents aged 12 to 17 years old have the highest rates of MDD, followed by adults aged 18 to 25 years, according to The Substance Abuse and Mental Health Services Association. This increasing demand for depression treatment among younger demographics is a major factor contributing to market demand for antidepressants worldwide. Additionally, conditions like obsessive-compulsive disorder (OCD) are expected to have little market share by comparison. It is estimated that about 2.2 million Americans, which is approximately 1.0% of adults in the United States, suffer from OCD, according to the Anxiety and Depression Association of America (ADAA). However, due to less awareness and familiarity with the condition and its treatment, patients with OCD are responsible for the lowest share of the global market segment.
Antidepressants Market Key Segmentation:
By Drug Class
- Selective Serotonin Reuptake Inhibitors
- Serotonin & Norepinephrine Reuptake Inhibitors
- Atypical Antidepressants
- Tricyclic Antidepressants
- Monoamine Oxidase Inhibitors (MAOIs)
- Others
By Disorder
- Major Depressive Disorder
- Obsessive-Compulsive Disorder
- Generalized Anxiety Disorder
- Panic Disorder
- Other
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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Regional Insights
In 2023, North America held a significant 32% share of the global antidepressants market. This dominance is largely driven by the rising levels of depression and other mental health disorders in the region. In the United States, Major Depressive Disorder (MDD) affects about 6.7% of adults annually, while Post-Traumatic Stress Disorder (PTSD) impacts approximately 75,000 to 76,000 individuals each year. The increasing prevalence of these conditions, along with bipolar disorder, obsessive-compulsive disorder (OCD), and eating disorders, fuels the demand for innovative antidepressant medications. High diagnosis rates and treatment requirements further amplify the need for new and effective drug formulations. Additionally, various reimbursement policies in the U.S. support the growth of the market by encouraging pharmaceutical companies to develop and launch more advanced drugs, improving treatment options for patients, and enhancing overall well-being.
Recent Developments
- The U.S. FDA approved dextromethorphan-bupropion (Auvelity, Axsome Therapeutics) in August 2022 for the acute treatment of major depressive disorder in adults.
- The antidepressant vortioxetine, sold under brand names Trintellix and Brintellix from Lundbeck demonstrated a lead in an April 2022 peer-to-peer study against Pfizer's s-market weapon Pristiq (desvenlafaxine).
Key takeaways:
- Major Depressive Disorder continues to be the largest market segment as it is highly prevalent and chronic.
- In the present scenario, North America dominated the antidepressant market due to the high prevalence of diseases coupled with developed healthcare infrastructure and huge investments in research activities.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Prescription Trends, (2023), by Region
- Drugs Volume: Drug Class and usage volumes of pharmaceuticals.
- Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients
6. Competitive Landscape
7. Antidepressants Market Segmentation, by Drug Class
8. Antidepressants Market Segmentation, by Disorder
9. Antidepressants Market Segmentation, by Distribution Channel
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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