Depression Drugs Market Demand Analysis Report and Forecast to 2024

Posted by ratna on April 1st, 2019

Depression Drugs Market to prosper with the increasing consumer awareness:

The global depression drugs market was estimated at US$ 40000 Mn in 2018 and is expected to decline at a CAGR of 2.0% from 2018 to 2024.

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Depression Drugs Market Overview:

Depression drugs business is rising, this is connected to the increasing pervasiveness of depression and different mood changes with the increasing availability of various anti-depressants in the market. Circumstances such as growing reliance on medications for managing the signs of depression is expected to add significantly to the depression drugs market return in the near future. In appreciation to this, increasing healthcare investment, and increasing insurance coverage also aids the growth of depression drugs. Also, the availability of newer anti-depressant is giving enormous possibilities to the companies within this market. However, side effects compared with these drugs along with the availability of other treatment approaches such as psychotherapy is expected to hamper the growth of market over the budget period.

Depression Drugs Market Key Dynamics:

A rise in the prevalence of major depressive disorders is projected to drive the market throughout the forecast period. According to the National Institute of Mental Health, the U.S. adult group of approximately 10.3 million had at least one significant depressive disorder episode with large impairment. Higher prevalence was seen among female adults at 8.50% as compared to 4.80% among male adults. The highest prevalence of major depressive disorder episode was seen among people aged 18 to 25 at 10.90%.

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Depression Drugs Market Geographical Insights:

North America is the biggest regional market, owing to high patient awareness levels regarding the availability of various drugs for depression, increasing healthcare expenditure and a relatively larger number of R&D practices pertaining to drug manufacturing and marketing etc.

The Asia Pacific excluding Japan is anticipated to grow at the fastest CAGR because of the increasing prevalence of depression and mood disturbances in the region along with more focus of the groups to target the markets such as India and China, which leads to the rise in the revenue growth of depression drugs market throughout the projection period.

Keyplayers of the Depression Drugs Market:

Key members operating in the global depression drugs market are Eli Lilly and Company, Otsuka Pharmaceutical Co., Ltd., Pfizer, Inc., Takeda Pharmaceutical Company Ltd, AstraZeneca, Allergan USA, Inc., Sebela Pharmaceutical, Inc., Novartis AG, GlaxoSmithKline, and Johnson & Johnson. These players implement inorganic and organic growth strategies to improve drug offerings, strengthen reach over the world, garner market share, and build a strong customer base.

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