Global Depression Medicine Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global depression medicine market is anticipated to grow at a significant CAGR of 2.5% during the forecast period (2022-2028). Depression is a mental disorder marked by a lack of positive emotions, a persistently low mood, including several cognitive, physical, behavioral, and emotional signs and symptoms. Antidepressants work by boosting the amounts of excitatory neurotransmitters, which are molecules produced by nerve cells that act as messengers in the nervous system. The global market for depression medicine is primarily driven by an increase in the prevalence of depression due to unhealthy and hectic lifestyle. According to World Health Organization, in 2021, depression is a common disorder that affects 3.8% of the global population (280 million), with 5.0% of adults and 5.7% of persons over the age of 60 years are suffering from depression.

Increased prevalence of life-threatening disorders such as major depressive disorder, obsessive-compulsive disorder, generalized anxiety disorder, and panic disorder are important reasons driving the antidepressant medications industry. The COVID-19 pandemic caused a rise in depression and anxiety disorders. In addition, the epidemic is driving up demand for mental health care. Bereavement, isolation, loss of income, and fear can all trigger or exacerbate mental health problems. Many people are also suffering from insomnia, psychosis, agitation, and stroke after the pandemic. Prevalence of such disorders generate growth opportunities for the depression medicine market.
Furthermore, the market is expected to develop as the number of antidepressant drug approvals rises. For instance, in March 2019, Janssen Pharmaceutical, Inc. got approval for Spravato (esketamine) nasal spray in combination with an oral antidepressant for the treatment of depression in individuals who have tried but failed to benefit from other antidepressant medications.

On the basis of drug type, the antidepressant segment holds the largest share in the depression medicine market. Antidepressants can help with social anxiety disorder, depression, seasonal affective disorder, moderate chronic depression, and dysthymia, among others. Antidepressants are prescribed by a number of doctors to their patients who are suffering from depression. According to NHS Business Services Authority statistics, more than 20 million antidepressants were prescribed between October and December 2020, which is a 6% rise over the same three months in 2019.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Drug Type
o By Application
o By Distribution Channel

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape-Eli Lilly and Co., Johnson & Johnson, Pfizer, Merck & Co. Inc., and F. Hoffmann-La Roche Ltd, among others.

Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

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Global Depression Medicine Market Report by Segment

By Drug Type
• Antidepressants
• Antipsychotics

By Application
• Major Depressive Disorder
• Bipolar Disorder
• Postpartum Depression,
• Premenstrual Dysphoric Disorder
• Dysthymic Disorder,

By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Global Depression Medicine Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa

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Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.