Press release
Antidepressant Drugs Market: How Top Leading Companies Can Make This Smart Strategy Work
Antidepressant Drugs Market
According to the report by Allied Market Research, the global antidepressant drugs market is estimated to register a CAGR of 2.1% from 2017 to 2023. The research helps leading players and startups to devise new strategies based on current market trends and changing dynamics. Competitive landscape is mentioned in the report based on business segments, products portfolio, and strategic moves & developments of leading market players. Detailed segmentation assists in determining growing segments and determining further steps to capitalize on lucrative segments. Regional landscape is helpful in determining opportunities and driving factors of each region and taking further steps.
North America is the highest contributor in the antidepressant drugs market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
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Depression affects a person's thoughts, behavior, feelings and sense of well-being and is caused due to biological, genetics, environment, and psychological factors. The symptoms usually include low mood and aversion to physical activity. Depression is more common in women than men. Depression drugs works by fixing chemical imbalance such as lack of serotonin in the brain. Antidepressants helps in the treatment of depression by maintaining balance of various hormones and chemicals in the brain. Although effective treatments are available, many individuals with depression do not have access to treatment or do not take treatment, mainly due to lack of knowledge and social stigma.
The rise in geriatric population, increase in prevalence of depression, and emergence of novel techniques for the development of drugs with fewer side-effects majorly drive the market growth. Furthermore, increase in awareness regarding the disease state 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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Among the depressive disorder, major depressive disorder is the dominant segment as majority of the people are usually diagnosed with this disorder due to increase in stress levels. However, obsessive compulsive disorder is the fastest growing segment due to increase in the number of drugs for this disorder.
Among the product, selective serotonin reuptake inhibitors dominate the market owing to the large number of prescription of this drugs and large number of clinical trials for these drugs.
In 2016, North America was the dominant revenue contributor, owing to the high prevalence rate of depression, presence of high disposable income, and increase in number of prescriptions for antidepressants. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to presence of populace countries such as India and China leading to large number of people suffering from depression and rise in healthcare expenditure.
The Major Key Players Are:
• 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.
• Takeda Pharmaceutical Co. Ltd.
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Contact:
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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Executive Summary -:
A comprehensive research report that analyses the Antidepressant Drugs Market and the drugs market by Class - Tricyclic Antidepressants, Selective Serotonin Reuptake Inhibitors, Selective Norepinephrine Reuptake Inhibitors, Monoamine Oxidase Inhibitors, Benzodiazepines, Antipsychotics and Novel Agents, the report also assesses the sales of antidepressant drugs by sales channels - Hospital & Clinics, Retail Pharmacies, Others.
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