Global Sertraline HCl Market, by Type (25 mg, 50 mg, 100 mg and Others), by Application (Obsessive-Compulsive Disorder, Depression, Panic Disorder, Premenstrual Dysphoric Disorder, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa) is estimated to be valued at US$ 1,385.9 Mn in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key trends in the market include increasing import export of sertraline Hcl which is expected to drive the growth over the forecast period. For instance, according to data published in Voleba provides a export import data service to help companies involved in import-export business, stated that in July-September 2018, the total value of exports of sertaline Hcl from India to foreign countries was US$ 196.1 million and increase of 491.277% from July September 2017 with export quantity of 5,499 units.
Global Sertraline HCl Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced upheaval, driven by staff furloughs, social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic. An April 2020 study for The Impact of COVID-19 on Clinical Trial Sites conducted by Medidata is a life sciences software provider that supports clinical trials with a primary focus on evidence generation, suggests that investigative sites demonstrated flexibility and ingenuity in adopting new approaches in order to cope with challenges presented by the pandemic, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020 have identified persistent impact of COVID-19 pandemic, with over 60% reporting an average or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment. Recently, the U.S. FDA guidance (March 2020 and updated July 2020) acknowledged that the impact of COVID-19 may require companies conducting clinical trials to consider virtual patient visits or put new processes in place of current protocols. Therefore, there are now more opportunities for using remote healthcare including conducting virtual or decentralized trials, site-less clinical trials, and use of other non-traditional approaches that do not involve in-person visits.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Sertraline HCl Market”- Forecast to 2030, by Type (25 mg, 50 mg, 100 mg, and Others), by Application (Obsessive-Compulsive Disorder, Depression, Panic Disorder, Premenstrual Dysphoric Disorder, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/sertraline-hcl-market-5355
Moreover, increasing government initiatives to strengthen mental health support is also expected to aid in the growth of the global sertraline HCl market over the forecast period. For instance, in March 2022, the Department of Health and Human Services (HHS) through the Substance Abuse and Mental Health Services Administration (SAMHSA), and the Office of Minority Health (OMH) announced nearly US$ 35 million in funding opportunities to strengthen and expand community mental health services and suicide prevention programs for America’s children and young adults.
Key Takeaways of the Global Global Sertraline HCl Market:
- The global sertraline HCl market is expected to exhibit a CAGR of 7.1% during the forecast period due to increasing prevalence of mental disorder which is expected to boost the growth of the market. For instance, according to data published in Elsevier Inc. in November 2021, it is estimated that the global prevalence of major depressive disorder in 2020 was 2470·5 cases (95% UI 2143·5–2870·7) per 100,000 population equivalent to 193 million (167–224) people globally.
- In terms of distribution channel, hospital pharmacy segment is estimated to hold a dominant position in global sertraline HCl market over the forecast period owing to increasing number of patients taking treatment for mental illness. For instance, according to the data published in the National Alliance on Mental Illness, a U.S. based nonprofit organization stated that 46.2% of the U.S. adults with mental illness received treatment in 2020.
- Among regions, Asia Pacific estimated to exhibit largest CAGR in the global sertraline HCl market over the forecast period owing increasing antidepressant expenditure. For instance, according to data published by Frontiers Media S.A. in July 2020, stated that the antidepressant expenditure increasing from 48.0 million Chinese yuan (US$ 7.3 million) in 2013 to 64.8 million Chinese yuan (US$ 6.9 million) in 2018.
- Major players operating in the global sertraline HCl market are Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, Accord Biopharma, Apotex Inc., Aurobindo Pharma USA, InvaGen, Lupin, Camber Pharmaceuticals, Mylan N.V. (a part of Viatris Inc.), Sun Pharmaceutical, Wockhardt, Alpic Biotech
