Depression Therapeutics Market to Surpass US$ 14,183.2 Million Threshold by 2025

The Global Depression Therapeutics Market, by Drug Type (Selective Serotonin Reuptake Inhibitors (SSRIs), Selective Norepinephrine Reuptake Inhibitors (SNRIs), and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 12,406.8 million in 2016 and is projected to exhibit a CAGR of 2.1% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Generic manufacturers are expected to experience continuous demand for antidepressant medications, owing to rising prevalence of mental disorders such as depression, anxiety, and bipolar disorders. Whereas, branded manufacturers are focused on gaining profits on patented products such as Viibryd manufactured by Forest Laboratories. Major manufacturers are focused on developing innovative generic counterparts of branded products over the past few years.

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Several potential blockbuster drugs are expected to lose patent protection during the forecast period. For instance, Fetzima, manufactured by Allergan Plc, is protected by three patents that are expected to expire in 2031, 2032, and 2023, each. Patent for Viibryd, manufactured by Allergan Plc is expected to expire in 2019. Major manufacturers receive approval of the U.S. Food & Drug Administration for commercialization of several antidepressant drugs. For instance, Levomilnacipran received the U.S. FDA approval in 2013, under brand name Fetzima by Forest Laboratories, Inc. Allergan Plc. and its partner Gedeon Richter Plc. received FDA approval for Vraylar (cariprazine) for treatment of manic or mixed episodes of bipolar I disorder and schizophrenia among adults. In 2017, Intellipharmaceutics International Inc. received approval from the U.S. Food and Drug Administration for quetiapine fumarate extended-release tablets in the 50, 150, 200, 300, and 400 mg strengths. The approved product is a generic equivalent of the branded product, Seroquel XR. Takeda Pharmaceutical Company Ltd. renamed its drug Brintellix (vortioxetine) to Trintellix (vortioxetine), in order to avoid misunderstanding and confusion between Brintellix and the anti-blood clotting therapy Brilinta (ticagrelor), in 2016.

Browse 34 Market Data Tables and 73 Figures spread through 171 Pages and in-depth TOC on Global Depression Therapeutics Market, by Drug Type (Selective Serotonin Reuptake Inhibitors (SSRIs), Selective Norepinephrine Reuptake Inhibitors (SNRIs), and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and by region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025

Research and development by leading players is expected to boost growth of the global depression therapeutics market. GlaxoSmithKline plc collaborated with University of Cambridge and Janssen Pharmaceuticals to form a MRC Immunopsychiatry Consortium in 2017, to investigate the links between depression and inflammation. The trial studied whether or not an anti-inflammatory drug (an anti-IL6 antibody) could be used to treat depression. Allergan Plc's Vraylar (cariprazine) cleared phase III trial, while Rapastine is under phase II trial and is expected to receive approval by 2022. Allergan Plc. and its partner Gedeon Richter Plc. succeeded in phase 3 study of cariprazine for the treatment of major depressive episodes among adults, in 2017. Alkermes, Inc.’s ALKS 5461 is in Phase III clinical trials for treatment of major depressive disorder. Furthermore, Otsuka Pharmaceutical Co. Ltd. has ASC-01 in Phase III clinical trials, and Axsome Therapeutics has AXS-05 in Phase III clinical trials for major depressive disorder, each.

Key Takeaways of the Global Depression Therapeutics Market:

The global depression therapeutics market is expected to exhibit a CAGR of 1% over the forecast period. This is attributed to high presence of several generic manufacturers, who offer innovative generic products at competitive prices.

Asia Pacific has high presence of innovative manufacturers such as Otsuka Holdings and Takeda Pharmaceutical Company Limited, who capitalize on generic products sale in this region and also focus on collaborations for higher profits.

The market is expected to witness positive changes over the forecast period, owing to multiple patent losses of potential blockbuster drugs and introduction of new drugs that are currently in later stages of clinical trials

Major players operating in the global depression therapeutics market include Pfizer, Inc., Eli, Lilly and Company, AstraZeneca, Plc, Allergan Plc, GlaxoSmithKline Plc, Intellipharmaceutics International, Inc., Takeda Pharmaceutical Company Limited, H.Lundbeck A/S, Otsuka Holdings Co.,Ltd., Apotex, Inc., Shionogi & Co. Ltd., Zhejiang Hua Hai Pharmaceutical Co., Ltd, and Chengdu Kanghong Pharmaceutical Group Co.,Ltd.

To know the latest trends and insights prevalent in the global depression therapeutics market, click the link below: https://www.coherentmarketinsights.com/market-insight/depression-therapeutics-market-1307

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This release was published on openPR.