Depression comprises multiple mental health challenges characterized by the absence of positivity, which leads to feelings such as misery, sadness, and anxiety. Such feelings are normal only if they exist for a short period of time and it becomes a serious condition when the individual feels lost, angry, frustrated, and gloomy very frequently. Although prevalence of depression has gone up in the last decade, demand for depression drugs has witnessed a decline, as other forms of therapies, notably cognitive behavior therapy (CBT) has gained popularity.
Increasing Inclination Towards Non-pharmacological Therapies to Beset Growth of the Global Depression Drugs Market
According to a study by the National Institute of Mental Health, over 10 Mn adults in the U.S. suffered from at least one depressive episode with severe results in 2016. The same study captured that the prevalence of depression is higher among female adults with 8.5% of cases as compared to 4.8% male adults.
Increase in the geriatric population and chronic diseases have been the crucial drivers for the growth of depression drugs market. With the rise in the health consciousness among the consumers, side-effects of the depression drugs are recognized and advanced technologies for the development of drugs with lesser side-effects are being used. However, the inclination of the consumers towards non-pharmacological therapies like CBT and meditation is likely to beset the growth of the global depression drugs market.
US Continues to Push Demand for Depression Drugs
North America constitutes the largest share of the global depression drugs market, given the high concentration of established market players, which are focusing on enhancing the efficiency of these drugs. In addition, a rise in the awareness pertaining to the depression disorders created by mental healthcare organizations is expected to drive the growth of the market in this region. However, with increasing awareness pertaining to the health threats posed by the side-effects of the depression drugs, the consumers are gradually favoring non-clinical treatments over these drugs, which is anticipated to challenge the growth of the global market.
Following the trends of North America, Europe accounts for the second largest share of the depression drugs market, which can be attributed to the proliferated research and development activities to rethink the efficiency of depression drugs in this region.
Side Effects and Vulnerability to Addiction Create Reluctance among Patients
According to the study, depression drugs lose their efficacy after a few months or years since the brain becomes less responsive to such drugs. As a result, the normal brain functions begin to hamper. Symptoms such as blurred vision, vivid dreams, insomnia, fatigue, dizziness, and loss of coordination are observed by the patients who discontinue the intake of the drugs. These after-effects caused by these drugs are anticipated to limit the growth of the global depression drugs market.
Global Depression Drugs Market – Competitive Matrix
According to the report, the significant players operating in the depression drugs market comprise of Johnson and Johnson, Sebela Pharmaceutical Inc., Takeda Pharmaceutical Company Ltd., GlaxoSmithKline, Novartis AG, Allergan USA Inc., AstraZeneca, Pfizer Inc., Eli Lilly and Company, Otsuka Pharmaceutical Co., Ltd., Alkermes Plc, Bristol Myers Squibb Co., H. Lundbeck, and Teva Pharmaceutical Industries Ltd., among others.
These leading players of the depression drugs market are adopting sustainable growth strategies to diversify their product portfolio, sustain their position in the global market, intensify their customer base, and garner share in the global depression drugs market.
Fact.MR analysis the global depression drugs market for the forecast period 2018 – 2026. The exhaustive study is aimed at recognizing lucrative opportunities available in the global depression drugs market. The study offers updates and insights into various categories of the depression drugs market. The comprehensive study begins with a detailed overview of the depression drugs market, which assesses the market performance in terms of revenue, key trends, restraints, and drivers prevailing in the global depression drugs market.
Depression Drugs Market - Overview
Fact.MR offers accurate data depending on supply side, demand side, and dynamics of the global depression drugs market. This comprehensive study encompasses market forecast in terms of revenue (US$ Mn). This in-depth study also offers stats on Year-on-Year (Y-o-Y) growth of the depression drugs market.
Key information about the depression drugs market share is drawn through regional pricing trends. Market size and forecast for each section have been incorporated in terms of the global and regional depression drugs markets. The market has been weighed based on the robust demand determinants. The values used for calculating the market size are obtained through primary researches carried out by setting up interviews with a number of manufacturers, distributors, and suppliers of the depression drugs market.
Depression Drugs Market - Segmentation
With a view to understanding and evaluating the growth prospects of the global depression drugs market, this incisive report is segmented into four key sections based on the distribution channel, disease type, region, and drug class. Based on the distribution channel, the depression drugs market is classified into Hospital pharmacies, Retail Pharmacies, and Online Pharmacies.
Depending on the disease type, the depression drugs market is categorized into major depression disorders, Schizophrenia and bipolar I, SSRI induced, and others. Based on the drug class, the depression drugs market is fragmented into Selective serotonin reuptake inhibitors, atypical antipsychotics, Serotonin-norepinephrine reuptake inhibitors, CNS stimulants, and others.
Depending on the regions, the depression drugs market is bifurcated into North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific.
Depression Drugs Market - Research Methodology
In order to assess the overall size of the depression drugs market, primary and secondary research has been carried out. This exclusive study includes prediction of the global market value generated by the sales of depression drugs in the retail pharmacies. Facts and figures of the market have been estimated based on the secondary and primary research of the global depression drugs market.
This exhaustive report has been compiled by keeping the crucial end users and their potential applications in mind, the data for which is obtained from the secondary sources and feedback derived from the primary respondents.
Bottom-up approach has been employed to assess the global depression drugs market depending on the regional segmentation. The market numbers for the segmentations are culled by the bottom-up approach and the same has been included in this research report. The depression drugs market is evaluated in terms of current currency rates. The prediction of the depression drugs market has been done in terms of the absolute dollar opportunity, which is used to measure the level of opportunities present in the global depression drugs market.
Depression Drugs Market – Competitive Matrix
According to the report published by Fact.MR, the global depression drugs market comprise of Johnson and Johnson, Sebela Pharmaceutical Inc., Takeda Pharmaceutical Company Ltd., GlaxoSmithKline, Novartis AG, Allergan USA Inc., AstraZeneca, Pfizer Inc., Eli Lilly and Company, Otsuka Pharmaceutical Co., Ltd., Alkermes Plc, Bristol Myers Squibb Co., H. Lundbeck, and Teva Pharmaceutical Industries Ltd., among others. These significant players have been employing sustainable growth tactics to diversify the product portfolio, maximize their geographical outreach, increase their customer base, and secure higher share in the global depression drugs market.
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