The antidepressant market includes drugs that are used to treat major depressive disorders. Selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), atypical antidepressants, and tricyclic antidepressants are some of the major drug types available in the antidepressant market. SSRIs such as fluoxetine, escitalopram, sertraline are most prescribed antidepressants owing to their lower side effects and improved safety profile compared to older tricyclic antidepressants. Antidepressants help alleviate symptoms of depression by increasing levels of serotonin and norepinephrine in the brain. The need for treatment of depression has been rising significantly over the years owing to factors such as increasing stressful lifestyle, substance abuse, and prevalence of mental health issues.
The Global Antidepressant Market is estimated to be valued at US$ 18.72 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Antidepressant market are Eli Lilly and Company, Pfizer Inc., GlaxoSmithKline PLC, AstraZeneca, AbbVie Inc., Johnson & Johnson, H. Lundbeck AS, Sanofi, Bristol-Myers Squibb, Alkermes Plc, F. Hoffmann-La Roche Ltd, Amgen Inc., Teva Pharmaceutical Industries Ltd., Neurocrine Biosciences, Inc., Otsuka Pharmaceutical Co., Ltd., Takeda Pharmaceutical Company Limited, Indivior PLC, and Aurobindo Pharma. Eli Lilly and Company holds the leading market share owing to its diverse product portfolio of antidepressants like Prozac and Cymbalta.
The growing global prevalence of depression disorders is driving the Antidepressant Market Size. According to WHO, over 264 million people suffer from depression globally. Increasing diagnosis and awareness about depression coupled with availability of novel drug formulations with improved safety is anticipated to boost the antidepressant uptake in the coming years.
Geographical expansion into developing markets of Asia Pacific and Latin America through partnerships, licensing and acquisition deals will allow major pharmaceutical players to leverage market access and strengthen their product reach. Emerging economies are expected to account for a significant share of the global antidepressant market revenues owing to rising disposable incomes, growing burden of mental health issues in these regions.
Market drivers
Increasing research activities for development of novel drug formulations such as long-acting injectables, drugs targeting specific neurotransmitters with improved efficacy and lesser side effects are expected to drive the antidepressant market growth during the forecast period. Growing acceptance and awareness about different types of depression like postpartum depression and seasonal affective disorder among people is anticipated to augment the demand for antidepressants worldwide.
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