Depression Drugs Market: Research and Development Activities to Remain Key for Market Growth

In 2021, the market for Depression Drugs reached a value of US$17.2 billion. Looking ahead, the market is expected to reach US$ 21.4 billion by 2027, growing at a CAGR of 3.62% from 2023 to 2032. We are regularly tracking and assessing the direct as well as the indirect impact of the pandemic while keeping in mind the COVID-19 uncertainties. These observations are cited in the study as a significant market contributor.

Positive emotions are absent, there is a persistent low mood, and there are many cognitive, somatic, behavioural, and emotional symptoms of depression. It is diagnosed by examining the patient's medical history and recognising the symptoms. Depression medications are then used to treat it, balancing the brain's neurotransmitter function and regulating the patient's mood and emotions. These medications can help to reduce the symptoms of anxiety, SAD, and dysthymia.

The global Depression Drugs Market has been segmented according to the disease types they treat, including Major Depressive Disorder (MDD), schizophrenia, bipolar I disorder, obsessive-compulsive disorders (OCD), anxiety disorders, and others. During the projected period, the category for schizophrenia and bipolar I disorder is anticipated to grow at the greatest CAGR. The segment is being driven by a growth in research into the treatment of this disorder as well as an increase in incidence of schizophrenia and bipolar I disorder. Bipolar disorder is ranked as the sixth-leading global cause of disability by the World Health Organization. 20 million people worldwide suffer from schizophrenia, according to WHO data released in October 2019.

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Market Segmentations:
Global Depression Drugs Market: Major Players
Beijing Wansheng
Pfizer
APOTEX
PRINSTON INC
Cadista
JUBILANT GENERICS
Carbosynth Limited
TEVA
ZYDUS PHARMS
GlaxoSmithKline
Huahai
Mylan
SUN PHARM
Intellipharmaceutics
LGM Pharma
Jianfeng
ROXANE

Global Depression Drugs Market: Types
SSRIs
SNRIs
TCAs
Others

Global Depression Drugs Market: Applications
Clinic
Hospital

Global Depression Drugs Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Depression Drugs market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Takeaways:
1. The global depression drugs market stood at US$ 13 Billion in 2020 and held about 50% share of the psychotropic drugs industry.
2. The North America depression drugs market is likely to grow 1.3x by 2031.
3. The U.S. depression drugs market is anticipated to surge 1.5x by the end of 2031 with rising geriatric population.
4. By drug class, the serotonin-norepinephrine reuptake inhibitors (SNRIs) category is likely to increase 2x over the evaluation period.
5. Top 5 companies operating in the global depression drugs market are estimated to hold about 40% of share through 2021 and beyond.

Global Depression Drugs Market - Impact of Coronavirus (Covid-19) Pandemic
Pharmaceutical companies, manufacturers of clinical tools, and biotechnology companies are having trouble during the Covid-19 outbreak as a result of supply chain disruptions and the need to change service procedures. Clinical trials are significantly impacted by COVID-19. The effects include social estrangement, difficulty recruiting participants for clinical studies not including COVID-19, participants' reluctance to visit clinical locations due to concerns about COVID-19 infections, and trial staff's decision to work remotely. New rules were released by the U.S. FDA to be followed while the pandemic is still going on. Clinical trial protocol changes, support for logistics and supply chain management, adoption of remote data review, clinical site monitoring, and provision of additional site support services are examples of mitigation techniques to guarantee the continuity of clinical trials.

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Key Questions Answered in This Report
1. What is the size of the global depression drugs market?
2. What has been the impact of COVID-19 on the global depression drugs market?
3. What is the expected growth rate of the global depression drugs market?
4. What are the key factors driving the global depression drugs market?
5. What is the breakup of the global depression drugs market based on the disorder type?
6. What is the breakup of the global depression drugs market based on the distribution channel?
7. What are the key regions in the global depression drugs market?
8. Who are the key companies/players in the global depression drugs market?

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