ANTIDEPRESSANT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Antidepressants are medications prescribed to treat major depressive disorders. They are used to alter brain chemistry in order to relieve symptoms such as sadness, loss of interest, feelings of guilt or low self-worth, disturbed sleep or appetite, fatigue, and poor concentration. The increasing prevalence of depression and other mental health disorders along with growing awareness is fueling the demand for antidepressants globally. Moreover, development of new and advanced treatment options by major pharmaceutical companies is also boosting market growth. However, availability of alternative treatment methods and side-effects associated with antidepressant drugs restrict the market expansion to some extent.
Market Dynamics:
The drivers influencing growth of global antidepressant market include rising incidence of depression and other mental health conditions, growing awareness about depression diagnosis and management, new product launches, and increasing expenditure on healthcare. According to WHO, over 264 million people are estimated to suffer from depression worldwide. Depression is also the leading cause of disability as measured by Years Lived with Disability (YLDs). Furthermore, growing acceptance of antidepressants for conditions other than depression such as anxiety disorders, post-traumatic stress disorder (PTSD), premenstrual dysphoric disorder (PMDD), and chronic pain is driving their market growth. However, availability of alternative treatment methods such as psychotherapy, electroconvulsive therapy, and social support is restricting complete reliance on antidepressants globally. Also, many individuals experience mild to serious side-effects such as insomnia, sexual dysfunction, weight changes, gastrointestinal issues, and headaches with antidepressant use, which limits their compliance and overall market revenue. High costs of new antidepressants also hinder the market growth, especially in price-sensitive developing nations. Development of generics offers opportunities to address the unmet needs of consumers with budget constraints.
Key features of the study:
- This report provides in-depth analysis of the global antidepressant market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 s the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global antidepressant market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Pfizer, Eli Lilly, AstraZeneca, GlaxoSmithKline, and Novartis
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global antidepressant market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global antidepressant market
Detailed Segmentation-
Detailed Segmentation-
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