Trends in the Depression Drugs Market 2017-2027
Depression drugs market comprises of the drugs which cures signs and symptoms caused by the depression, these drugs are known as anti-depressants. Anti-depressants includes tricyclic antidepressants, selective serotonin reuptake inhibitors, atypical antidepressants, and monoamine oxidase inhibitors. These drugs are also utilized in the treatment of a number of other mood disorders such as anxiety disorders, eating disorders, and obsessive compulsive disorder.
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Depression Drugs Market: Drivers and Restraints
Depression drugs market is growing, this is attributed to increasing prevalence of depression and other mood disorders with increasing availability of various anti-depressants in the market. Factors such as increasing reliance on medications for controlling the symptoms of depression is expected to contribute significantly to the depression drugs market revenue in the near future. In addition to this, growing healthcare expenditure, and rising insurance coverage also aids the growth of depression drugs market as increasing number of relatives of depressive cases are adopting early measures to halt the deterioration process. Also, availability of newer anti-depressants drives the depression drugs market, giving enormous opportunities to the companies within this market. However side effects associated with these drugs along with availability of other treatment methods such as psychotherapy is anticipated to hamper the revenue growth of depression drugs market over the forecast period.
Depression DrugsMarket: Overview
Depression drugs market is expected to grow at a significant rate, over the forecast period. The market is anticipated to perform well over the forecast period attributed to increasing number of patients suffering from mild to moderate depression along with the availability of more drugs in the market. Also the depression drugs market is expanding globally due to increasing distribution partnerships among depression drug manufactures. The Depression Drugs market is expected to grow with a fastest CAGR over the forecast period due to increasing number of pipeline antidepressants. Increasing competition among major companies in the market to develop new formulation drugs which cures more than one symptoms also drives the depression drugs market towards the growth curve.
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Depression Drugs Market: Region-wise Outlook
Depending on geographic region, the depression drugs market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
North America is the largest regional market owing to high patient awareness levels regarding availability of various drugs for depression, rising healthcare expenditure and relatively larger number of R&D exercises pertaining to drug manufacturing and marketing etc. these factors contribute for significant revenue generation from the region.
Asia Pacific excluding Japan is expected to grow at the fastest CAGR because of increasing prevalence of depression and mood disorders in the region along with more focus of the companies to target the markets such as India and China leads to increase in the revenue growth of depression drugs market throughout the forecast period.
Depression Drugs Market: Key Players
Some of the players in depression drugs marketinclude AstraZeneca, GlaxoSmithKline, Merck & Co., SK Biopharmaceuticals, Novartis, Forest Laboratories, Naurex etc. whereas some and regionalplayers also have a significant presence in depression drugs market.
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