DUBLIN–(BUSINESS WIRE)–The “Antidepressants Global Market Report 2021: COVID-19 Implications And Growth To 2030” report has been added to ResearchAndMarkets.com’s offering.
The global antidepressants market is expected to decline from $26.25 billion in 2020 to $15.87 billion in 2021 at a compound annual growth rate (CAGR) of -39.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $21.28 billion in 2025 at a CAGR of 7.6%.
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 is expected to drive the growth of the antidepressant market.
The side-effects of antidepressant drugs is 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 is expected to limit the growth of the antidepressant market.
In May 2018, Allergan, an Ireland based company, focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world acquired Aptinyx for an unclosed amount. Through this acquisition Allergan gained important insights into NMDA receptor modulation as a potential therapeutic approach for depression. Aptinyx, a clinical-stage biopharmaceutical company focused on the discovery and development of transformative therapies for challenging neurologic disorders.
The antidepressants market has also surged during the COVID-19 outbreak. The increasing number of cases and fatalities is affecting the 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.
The treatment for 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. In 2019, 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.
Report scope:
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The antidepressants market section compares the antidepressants market with other segments of the antidepressants market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, antidepressants indicators comparison.
Companies mentioned:
- 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.
- Takeda Pharmaceutical Co. Ltd
- Forest laboratories
- Akeda Pharmaceutical
For more information about this report visit https://www.researchandmarkets.com/r/xlxe5b
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