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Antidepressants Global Market Report 2023
Major players in the antidepressants market are Allergan PLC, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline PLC, H. Lundbeck AS, Johnson & Johnson, Pfizer Inc., Merck & Co. Inc., Sanofi, Sun Pharmaceuticals Pvt Ltd, Alkermes, Bristol Myers Squibb Company, Teva Pharmaceutical Industries, Eli Lilly and Co.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antidepressants Global Market Report 2023" - https://www.reportlinker.com/p06241825/?utm_source=GNW
, Takeda Pharmaceutical Co. Ltd, Forest laboratories and Akeda Pharmaceutical.
The global antidepressants market is expected to grow from $15.61 billion in 2021 to $16.44 billion in 2022 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The antidepressants market is expected to reach $22.57 billion in 2026 at a CAGR of 8.2%.
The antidepressants market consists of sales of duloxetine, desvenlafaxine, vilazodone, citalopram, and sertraline.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Antidepressants refer to a medication that aids in the treatment of depressive symptoms.Additionally, they can aid in the treatment of SAD, other anxiety disorders, and social anxiety disorder.
Unpleasant side effects are possible with antidepressants. Initially, signs and symptoms including nausea, weight gain, or sleep issues can be prevalent.
North America was the largest region in the antidepressants market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the antidepressants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of antidepressants are selective serotonin reuptake inhibitor (SSRI), serotonin-norepinephrine reuptake inhibitor (SNRI), tricyclic antidepressant (TCA), and monoamine oxidase inhibitor (MAOI).SSRIs (selective serotonin reuptake inhibitors) are a type of medication that is commonly used to treat depression and a few other mental illnesses.
The various drug class includes monoamine oxidase inhibitors, serotonin antagonist and reuptake inhibitors, serotonin-norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors, and tricyclic antidepressants that are used for the treatment of the major depressive disorder, obsessive-compulsive disorder, generalized anxiety disorder, and panic disorder.
The antidepressants market has also surged during the COVID-19 outbreak.The increasing number of cases and fatalities is affecting mental health by elevating anxiety worldwide.
People who are already living with mental health problems are experiencing increased stress levels over the COVID-19 outbreak. This has triggered the demand for antidepressant drugs.
Globally, rising cases of mental health disorders are the key factor in the growth of the antidepressant drug industry, as many customers rely on these medications to counter depression, anxiety disorder, and other mental diseases.Antidepressant medications are used in conditions such as depression, OCD, childhood enuresis, major depressive disorder, severe anxiety disorder, bipolar disorder, post-traumatic stress disorder (PTSD), and social anxiety disorder.
Globally, the percentage of people with depression varies from 2% to 6%, and the elderly are at greater risk of depression compared to other age groups.According to WHO, in 2020, about 264 million people of all ages worldwide suffered from depression.
Therefore, rising cases of mental health disorders are expected to drive the growth of the antidepressant market.
The side effects of antidepressant drugs are a key factor hampering the growth of the antidepressant market.For instance, the antidepressants Lexapro (escitalopram) and Celexa (citalopram), both are used to treat depression and Lexapro also helps for treating anxiety.
Lexapro and Celexa can cause side effects common to others which include nausea, sleeplessness, sweating, dry mouth, and drowsiness.Celexa and Lexapro are both at risk for even more serious side effects including excessive bleeding, seizures, and vision issues.
Therefore, the side effects of antidepressant drugs are expected to limit the growth of the antidepressant market.
The treatment of resistant depression is a key trend in the antidepressant market.Ketamine is the new treatment that is used for anesthesia during surgery, stimulates the development of glutamate, and prompts the brain to form new neural connections.
It makes the brain more adaptable and capable of developing new pathways and helps people to create more optimistic thoughts and behaviors.For instance, Food and Drug Administration (FDA) approved a new ketamine depression drug esketamine which is one-half of the ketamine compound.
The drug must be administered as a nasal spray and patients must be taking another antidepressant at the same time. Also, the drugs can be prescribed to only those patients who have (unsuccessfully) tried two antidepressants before.
In October 2021, Shineco, Inc., a producer and distributor of Chinese herbal medicines, organic agricultural and hemp products, and other biotech products, announced that it has entered into a framework agreement to acquire a majority stake in Beijing Wonner Biotech Co., Ltd., for a deal amount of $30 million. Through this acquisition, Shineco aims to jointly develop SNG, a rapid-acting antidepressant natural innovative medicine. Beijing Winner is a biotechnology company based in China that specializes in the research and development of natural medicines and related products.
The countries covered in the antidepressants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The antidepressants market research report is one of a series of new reports that provides antidepressants market statistics, including antidepressants industry global market size, regional shares, competitors with an antidepressants market share, detailed antidepressants market segments, market trends, and opportunities, and any further data you may need to thrive in the antidepressants industry. This antidepressants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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