COVID-19 Impact on Anxiety Disorder Treatment in Healthcare Industry

Posted by swarajya on April 28th, 2021

COVID-19 Impact on Anxiety Disorder Treatment in Healthcare Industry

OVERVIEW

COVID-19, a disease caused by the novel COVID-19, later renamed named SARS-CoV-2, was first reported by officials in Wuhan City, China, in December 2019. A previous investigation by Chinese authorities identified the onset of human cases with symptoms in December 2019. Coronavirus (COVID-19) is an infectious disease caused by the newly discovered Coronavirus. The United States is the most affected country. The disease caused by SARS-CoV-2 infection is called COVID-19 which stands for Coronavirus Disease 2019. The final treatment for COVID-19 has not yet been identified, but there is considerable interest in replicating existing generic drugs for use in COVID-19.

WHO survey has found that in 93% of the world's countries, the COVID-19 epidemic has disrupted or stopped critical mental health services, and the demand for mental health is on the rise, according to a new WHO study. A survey of 130 countries provides the first global data showing the devastating effects of COVID-19 on access to mental health services and points to the urgent need to increase funding.

IMPACT ON PRICE 

A large number of challenges are being faced by various market players due to the coming of the novel Coronavirus, one such issue is the uncertainty surrounding the impact of COVID-19 on anxiety drug demands. Due to the increased demand of anxiety drug for Coronavirus treatment and increased travel and transportation costs the price of anxiety drug has increased.

Due to patients' reliance on certain drugs, the pharmaceutical industry has increased the price of these drugs by more than 40 percent, according to researchers at Patients for Affordable Drugs stated. Mental health is also at risk during an epidemic. About 40 percent of Americans reported that COVID-19 had a negative effect on their mental health and by mid-April, demand for antidepressants, anti-obesity drugs and anti-insomnia drugs increased by 21 percent, the researchers said. Anxiety and depression medications such as Ativan, Lithobid, Paxil and Spravato increased by USD 415.69, USD 110.57, USD 18.77, and USD 28.92, respectively.

With the increasing demand and transportation costs of anxiety drug, leads to the increase of anxiety drug price.

IMPACT ON DEMAND

The Coronavirus zone is the result of various markets around the world. This is the cause of the widespread closures and isolation that are affecting world economic activity.

A survey by the American Psychological Association, conducted between August 28 and October 5, also found that nearly three out of 10 psychologists (29%) said they had seen more patients in total since the onset of the pandemic. Of the psychologists who treat anxiety disorders, almost three quarters (74%) reported an increase in demand for such treatment and 60% of those who provided treatment for depressive disorders saw an increase. Other treatment areas with significantly increased demand were trauma and stress-related disorders (48%) and sleep disorders (51%).

Coronavirus isolation and anxiety have increased the demand for mental health services. Zoloft's prescriptions rose 12% year-on-year to USD 4.9 million in March, the highest in the United States, according to data compiled by Bloomberg Intelligence. Prescriptions fell to 4.5 million in April. Pfizer Inc. said some versions of the Zoloft brand, such as 100 milligram tablets in 100 count milligram tablets in 100 number bottles, were in short supply due to increased demand, according to the FDA’s drug-shortage database.

The impact of COVID-19 has created an opportunity for the number of patients as there is high chance of adverse health effects of COVID-19 on the people.

IMPACT ON SUPPLY

As the epidemic intensifies, supply chains may be at significant risk due to overcrowded and potentially disrupted spaces. The drug supply chain has been disrupted. The proliferation of COVID-19 makes it difficult for governments to use these drugs; The availability of these systems faces constant challenges due to their use as well as limited initial requirements.

The majority of APIs worldwide are sourced from India, which also provides approximately 30 percent of the general APIs used in the United States. However, Indian manufacturers rely heavily on China's API to manufacture their drugs and receive about 70 percent from China, the largest manufacturer and exporter of APIs by volume. India provides millions of people worldwide with cost-effective and inexpensive generic drugs, and operates more than 250 FDA and medical and healthcare institutions (MHRA) in the UK.

On COVID-19, Chinese API output not only affects the local market, it can disrupt supply chains around the world. According to various sources, more than 60% of the pharmaceutical manufacturers' applications in India depend on imports from China. As some API manufacturers in China were unable to return to work due to COVID-19, some Indian generic pharmaceutical companies were at risk of a production disruption, which in turn had an additional impact on their exports to Europe and America.

One of the drugs recently added to the list of deficiencies was one of the most widely used drugs in the United States, sertraline, an antidepressant marketed by Pfizer under the Zoloft brand. Pfizer has indicated that it could have filled existing, ongoing prescriptions, according to NBC News, but could not meet the growing demand for new prescriptions.

Other companies producing sertraline as a generic drug have also reported deficiencies. Accord Healthcare stated that it could not acquire the active substance or drug "due to the effects of COVID-19. Read more…