Anti-depressant Drugs Market Estimated to Reach $15,983 million by 2023 - Alkermes, Allergan, Bristol Myers Squibb, Eli Lilly, GlaxoSmithKline

Depression includes a variety of mental health problems characterized by the absence of a positive emotion, low mood, and a range of associated cognitive, physical, emotional, and behavioral symptoms. It is a very common condition that affects 1 in every 5 Americans. There are many factors including genes, factors such as stress and brain chemistry that could lead to depression. According to WHO almost 350 million people worldwide were affected with depression in 2016. Antidepressants help maintain balance of various hormones and chemicals in the brain, which helps in the treatment of depression. The global anti-depressant drugs market was valued at $13,755 million in 2016, and is estimated to reach $15,983 million by 2023, registering a CAGR of 2.1% from 2017 to 2023.

Increase in prevalence of depression, rise in geriatric population, and emergence of novel techniques for the development of drugs with fewer side-effects drive the market. Moreover, increase in awareness regarding the disease state and required clinical needs, and rise in number of people suffering from stress can fuel the growth of the antidepressant drugs market. However, poor efficacy and safety profiles of the drug, preference for non-pharmacological therapies, and increase in number of patent expiration of antidepressants that lead to weak pipeline are expected to hamper the market growth.

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Based on product, it is segmented into tricyclic antidepressants, selective serotonin reuptake inhibitors, serotonin-norepinephrine reuptake inhibitors, monoamine oxidase inhibitors, serotonin antagonist and reuptake inhibitors, and others. Selective serotonin reuptake inhibitors is the dominant segment owing to the presence of large number of these drugs.

The Key players operating in the global antidepressant drugs market include Alkermes Plc, Allergan Plc, Bristol Myers Squibb Co., Eli Lilly and Co., GlaxoSmithKline Plc, H. Lundbeck, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Takeda Pharmaceutical Co. Ltd.

Other prominent players in the value chain include Opko Health, Intra-Cellular Therapies, Janssen Pharmaceuticals, Lupin, Abbott Laboratories, Novartis, Forest Laboratories, and AstraZeneca.

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