Antidepressants Market Outlook 2031:
The global antidepressants market size was valued at USD 12.72 Billion in 2022 and is projected to reach USD 16.45 Billion by 2031, expanding at a CAGR of 2.9% during the forecast period 2023 - 2031. The growth of the market is attributed to the rising mental problems among the general public.
Depression refers to a group of mental health issues marked by a lack of positive feeling, a depressed mood, and a variety of cognitive, physical, emotional, and behavioral symptoms. It's a highly prevalent ailment that affects one out of every five Americans. Depression can be caused by a variety of causes, including genetics, stress, and brain chemistry.
Depression is caused mostly by variables such as social isolation and a stressful work environment, which have contributed significantly to the rise in the number of persons suffering from depression. According to the World Health Organization, depression afflicted almost 350 million people globally in 2016. Antidepressants aid in the treatment of depression by maintaining the balance of different hormones and chemicals in the brain.
Given the challenges experienced during the crisis, such as social isolation due to lockdown, employment uncertainty, and fear of getting infected by coronavirus, the pandemic is expected to have a long- and short-term influence on the individual's mental disorder. According to a survey conducted by the Kaiser Family Foundation in August 2020, 64 per cent of households with a healthcare worker reported having experienced at least one negative effect on their mental health and wellbeing during the COVID-19 pandemic, such as difficulty sleeping or eating, increased alcohol consumption or substance use, and worsening chronic conditions.
Antidepressants Market Trends, Drivers, Restraints, and Opportunities
- Growing awareness of depression among people is expected to drive the antidepressants market growth during the forecast period.
- Introduction of new biologics is anticipated to fuel the antidepressants market expansion in the coming years.
- Rising geriatric population and mental health associated risks are estimated to spur market growth in the coming years.
- Availability of non-drug therapies and anti-depressant side effects are expected to limit the antidepressants market growth throughout the projection period.
- Increase in the number of antidepressant patent expirations is projected to impede market expansion.
Scope of Antidepressants Market Report
The report on the global antidepressants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Antidepressants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023 – 2031
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Segmentation
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Products (Selective Serotonin Reuptake Inhibitor [SSRI], Serotonin-norepinephrine Reuptake Inhibitor [SNRI], Tricyclic Antidepressant [TCA], Monoamine Oxidase Inhibitor [MAOI], and Other Products) and Depressive Disorders (Major Depressive Disorder, Obsessive-compulsive Disorder [OCD], Generalized Anxiety Disorder [GAD], Panic Disorder [PD], and Other Depressive Disorders)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Allergan PLC, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline PLC, H. Lundbeck AS, Johnson & Johnson, and Pfizer Inc.
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Antidepressants Market Segment Insights
Selective serotonin reuptake inhibitor [SSRI] segment is projected to account for a large market share
Based on products, the antidepressants market share is bifurcated into selective serotonin reuptake inhibitor [SSRI], serotonin-norepinephrine reuptake inhibitor [SNRI], tricyclic antidepressant [TCA], monoamine oxidase inhibitor [MAOI], and other products.
The selective serotonin reuptake inhibitor [SSRI] segment is expected to account for a key share of the market during the forecast period owing to the availability of these medications in huge amounts.
Major depressive disorder segment is expected to grow at a rapid pace
In terms of depressive disorders, the antidepressants market is divided into major depressive disorder, obsessive-compulsive disorder [OCD], generalized anxiety disorder [GAD], panic disorder [PD], and other depressive disorders.
The major depressive disorder segment is expected to account for a key share of the market in the coming years due to the growing patient pool and new product releases.
North America is anticipated to dominate the market
On the basis of regions, the antidepressants market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to dominate the market CAGR during the forecast period. The regional market growth can be attributed to the rising prevalence of depression.
Furthermore, the geriatric population in the United States is growing, which would provide additional possibilities for market participants in the area. Furthermore, the studied market is driven by an increase in FDA approvals and pipeline goods by significant companies located in the area. For example, the US FDA authorized Spravato (esketamine) nasal spray in March 2019 for the treatment of resistant depression in adults when used in combination with an oral antidepressant.
Segments
The global antidepressants market has been segmented on the basis of
Products
- Selective Serotonin Reuptake Inhibitor [SSRI]
- Serotonin-norepinephrine Reuptake Inhibitor [SNRI]
- Tricyclic Antidepressant [TCA]
- Monoamine Oxidase Inhibitor [MAOI]
- Other Products
Depressive Disorders
- Major Depressive Disorder
- Obsessive-compulsive Disorder [OCD]
- Generalized Anxiety Disorder [GAD]
- Panic Disorder [PD]
- Other Depressive Disorders
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global antidepressants market include Allergan PLC, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline PLC, H. Lundbeck AS, Johnson & Johnson, and Pfizer Inc.
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