Global Antidepressant Drugs Market Size, Growth, Share 2021 Global, Trends, Global Industry Key Players, Regional Forecast To 2030

In a recent published report, Kenneth Research has updated the market report for Global Antidepressant Drugs Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Antidepressant Drugs Market products.

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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Global Antidepressant Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecast: 2018–2024

Overview: Depression is a serious mental illness affecting more than 350 million people globally. This is also known as “major depression disorder” or “unipolar depression”. According to a report by the Psychiatric Association, nearly 14.8 million adults in the US are suffering from depression. Growing aging population and increasing prevalence of depression are the primary factors driving the global antidepressant drugs market growth. Supportive initiatives from the government & other organizations and increasing clinical trials will provide an opportunity for the market growth in the future.

At the global level, over 300 million people are estimated to suffer from depression, which is equivalent to 4.4% of the world’s total population. Only less than 10% of the affected people are treated although there is the availability of branded and effective treatments for depression. The challenges for effective care include lack of capitals, unavailability of qualified health-care providers, and public stigma associated with mental disorders. Along with these, imprecise assessment of the condition is also a challenge faced globally.

Market Analysis: The “global antidepressant drugs market” is estimated to witness a CAGR of 2.2% during the forecast period 2018–2024. The global antidepressant drugs market is analyzed based on drug class and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the antidepressant drugs market, followed by Europe, Asia Pacific, and Rest of the World. North America alone occupies more than 30% of the market, with a significant contribution from the US to the market growth.

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Drug Class Analysis: Based on the drug class, the market is segmented into selective serotonin reuptake inhibitors (SSRIs), norepinephrine–dopamine reuptake inhibitors (NDRI), serotonin and norepinephrine reuptake inhibitors (SNRIs), monoamine oxidase inhibitors (MAOIs), tricyclic antidepressants (TCAs), and others. SSRIs are the most attractive drug in the market, owing to the highly effective treatment of depression and anxiety.

Key Players: Novartis AG, Allergan Inc., Elli Lilly and Company, AstraZeneca plc, GSK, Otsuka Holdings Co., Ltd., and Johnson & Johnson are the key players in the market. The other prominent players include Pfizer, Shionogi & Co. Ltd., Abbott Laboratories, Takeda Pharmaceutical Co., Ltd., and H. Lundbeck A/S.

Competitive Analysis: Government initiatives have been greatly changing the market scenario. Many initiatives are taken to increase the awareness and reduce the suicidal rate globally. Depression is confined by the mental health Gap Action Programme (mhGAP) of the World Health Organization (WHO) to assists countries to increase their facilities for those suffering from mental disorders, through special aid by healthcare workers. A special transitory is established by WHO for the treatment of depression. The companies are striving to develop innovative drugs to address the unmet needs in the market. For instance, in May 2018, Esketamine Nasal Spray of the Janssen Pharmaceutical Companies of Johnson & Johnson demonstrated rapid enhancements in depressive symptoms in patients with treatment-resistant depression in Phase III trials. Thus, this drug is expected to be one of the bestsellers in the market.

Benefits: The report provides complete details about the usage and adoption rate of antidepressant drugs in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

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Christophe Rude
Christophe Rude
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