Antidepressants Market Pegged for Robust Expansion by 2024

Antidepressants are drugs used for the treatment of depressive disorders including dysthymia, obsessive compulsive disorder, anxiety, chronic pain, eating disorders, and neuropathic pain. Depression is a medical disorder which is related to the brain. Symptoms of depression include feeling sad and tired, lacking energy, and having difficulty enjoying routine daily activities. According to CDC, depression affects about 1 in every 5 individuals in the U.S. According to WHO (World Health Organization), at present an estimated 350 million people worldwide are affected by depression. Depression affects 10% to 15% men and about 10% to 25% of women.

The antidepressants market has been segmented based on the drug classes commonly used for the treatment of various types of depressive disorders. There are different types of antidepressant drugs available in the market such as selective serotonin reuptake inhibitors (SSRI), serotonin and noradrenaline reuptake inhibitors (SNRI), noradrenaline reuptake inhibitors, tricyclic antidepressants (TCA), reversible inhibitors of monoamine oxidase A (RIMA), tetracyclic antidepressants, etc. The different types of antidepressants are used in the treatment of depressive disorders. The different classes of antidepressants are as effective as each other, but some patients respond better to one antidepressant compared to another antidepressant. Side effects can also be different between these groups of antidepressants. Different types of depression disorders include dysthymic disorder, postpartum depression, psychotic depression, major or clinical depressive disorder, and seasonal affective disorder.

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Factors driving the antidepressants market are declining side effects and rising efficacy of drugs in various classes as well as growing geriatric population where rate of mental illness is higher. However, the overall antidepressants market growth would decrease due to patent expiry of key antidepressants, fragile pipeline of new drugs, increasing number of generic drug alternatives, and growing prevalence of treatment-resistant psychiatric disorders.

Region wise, the global fermented ingredients market is segmented into five regions; North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the most dominant market for antidepressants due to the presence of a large patient population suffering from various types of anxiety disorders and depression. However, the antidepressants market in the U.S. is currently saturated, as several antidepressant drugs are available on prescription for the same indication. Hence, the future growth of the market would depend on introduction of efficacious drugs for new indications. Moreover, loss of patent exclusivity, market maturity, generic infiltration, and shortened drug lifecycles are the additional factors that contribute to the decline in market growth in the region. Asia Pacific is expected to witness appreciable growth due to multiple factors such as high prevalence of psychiatric disorders and rapid economic growth in countries such as China, Japan, and Australia. Additionally, positive marketing approval for innovative medicines is likely to drive the market in the near future.

Currently, the market is highly fragmented and competitive in nature due to the involvement of both large and small pharmaceutical companies. AstraZeneca plc, Eli Lilly and Company, Forest Laboratories, GlaxoSmithKline plc, H. Lundbeck A/S, Johnson & Johnson, Merck & Co., Inc., Pfizer, Inc. and Sanofi S.A. are major companies operating in the antidepressants market. Majority of the market players are focusing on expanding distribution network as well as expanding geographical presence, as Asia Pacific, the Middle East& Africa, and Latin America are developing regions with an increasing prevalence of various types of depressive disorders and improving economic conditions. Differences in clinical efficacy between drugs are generally small because most modern antidepressants work through a common biological mechanism. As a result, drug makers use direct-to-consumer advertising and tweak side effect profiles in order to differentiate their products.

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