Anti-Suicide Drugs Market Advanced Business Strategies with Top Players Pfizer, AstraZeneca, Eli Lilly and Company, Allergan, GlaxoSmithKline, Merck, H. Lundbeck

Depression is one of the major healthcare burdens worldwide leading to lower productivity and in severe cases leading to suicidal tendencies. Anti-depressant and anti-psychotic drugs are especially high in demand during economic crisis and social negligence. These drugs also serve as a therapy for preventing suicidal thoughts and attempts. However, overdose of these drugs can be fatal and therefore, needs to be administered under the direction of a physician. Extensive research related to suicide treatment is expected to provide a better solution to the global population during the latter half of the forecast period (2016-2024). This would improve the outlook of global anti-suicide drugs market and would help in reducing deaths due to suicide.

The Global Anti-suicide Drugs Market was valued at US$ 3,318.3 million in 2015 and is projected to expand at a CAGR of 4.2% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Introduction of novel approved drugs, expected to be commercialized post-2020, intended for treatment of suicidal ideation would be a major breakthrough for the global anti-suicide drugs market.

NeuroRx Pharma has developed a novel anti-suicidal product Cyclurad (D-cycloserine and Lurasidone) which is indicated for Acute Suicidal Ideation/Behavior (ASIB) in Bipolar Depression. The estimated commercialization of the drug post-2020 is expected to be a major breakthrough innovation for the anti-suicide drugs market. Moreover, introduction of other such novel drugs for suicide would augment the anti-suicide market growth. People with major depressive disorder and risk for suicide would greatly benefit from such novel drug therapies.

Some of the potential drug candidates used for treatment of suicidal ideation include N-Methyl-D-aspartate receptor (NMDAR) agonists and antagonist. Key players in the market are focused on developing anti-depressants and anti-psychotic drugs for treatment of patients at high risk of suicide. The global anti-suicide drugs market is majorly driven by off-label recommendations and prescriptions of anti-depressants, anti-anxiety, and anti-psychotic drugs.

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Suicide is one of the major economic burdens for various countries. According to the World Health Organization (WHO), over 800,000 people commit suicide annually. Most of the suicidal deaths occur in Asia, Africa, and Eastern Europe. Some of the organizations such as Stop Suicide, Yellow Ribbon Suicide Prevention Program, and American Foundation for Suicide Prevention are some of the leading organizations working for preventing suicides. Furthermore, high prevalence of suicidal attempts and death is propelling demand for development of novel drugs for growth of the anti-suicide drugs market.

However, inadequate healthcare infrastructure and high cost of medications and treatment is hindering growth of the market in emerging economies such as India, China, Brazil, and Indonesia. Therefore, key players are introducing novel anti-suicidal drugs to overcome challenges in market, which in turn is projected to fuel growth of the market. Furthermore, high suicidal rates and accessibility to better medical therapies are driving growth of the anti-suicide drugs market in these region.

Anti-Suicide Drugs Market to Gain Initial Traction in Developed Economies

Major players operating in the global anti-suicide drugs market include Pfizer, Inc., AstraZeneca plc, Eli Lilly and Company, Allergan plc, GlaxoSmithKline plc, Merck & Co., Inc., H. Lundbeck A/S, NeuroRx, Inc., and Johnson & Johnson. High healthcare expenditure in developed economies of North America and Europe is responsible for a higher market size of anti-suicidal drugs in these regions. Moreover, developed regions offer better healthcare infrastructure and are usually early adopters of new therapies. The anti-suicide drugs market in North America and Europe is expected to gain significant traction during the latter half of the forecast period, with the launch of anti-suicidal drug. Increasing healthcare expenditure in emerging economies and high prevalence of suicides in these regions is expected to bring about a paradigm shift in the market. Companies are expected to focus on capitalizing on lucrative opportunities in these regions at the turn of the following decade. This would ensure sustained growth for the market in the foreseeable future.

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This release was published on openPR.