There are various medications for the treatment of depression, which include selective serotonin reuptake inhibitors (SSRIs), serotonin and norepinephrine reuptake inhibitors (SNRI), dopamine reuptake blocker, tetracyclic antidepressant, tricyclic antidepressants, and others. These drugs are used to treat various conditions such as major depressive disorder, schizophrenia and bipolar disorder, obsessive-compulsive disorders, anxiety disorder, among other disorders. According to WHO, depression is one of the most common mental disorders. Globally, more than 264 million people of all ages suffer from depression. It also leads to suicidal thoughts and it is estimated that approximately 800,000 people die due to suicide every year. This is one of the major factors responsible for the growth of antidepressants drugs market. Factors such as increasing stress level, consumption of alcohol and tobacco, changing lifestyle, work life imbalance, and social alienation causes mild to severe depression. Thus, all these factors boost antidepressant drugs market growth across the globe. Furthermore, surging geriatric population on a global scale especially in developed countries enhances use of antidepressants drugs. In addition, research and development activities for the advancement in neurobiology of depression over the past few years will create lucrative opportunities in following years. In addition, the out-burst of the COVID-19 pandemic has resulted in growing concerns as large number of people across the globe are suffering from mental health conditions. Thereby, there has been a rise in the prescription of antidepressant drugs since 2020.
Key players involved in antidepressant drugs market are adopting expansion strategies through new product development, mergers, and acquisitions. Major players involved in depression drugs market are Allergan, Plc, Novartis International AG, Lupin Pharmaceuticals, Inc., Abbott Laboratories, Johnson & Johnson Services, Inc., Otsuka Pharmaceutical Co., Ltd., Eli Lilly and Company, Takeda Pharmaceutical Company Limited, GlaxoSmithKline Plc, and Pfizer, Inc.
Global Depression Drugs Market, By Type
Based on type, the depression drugs market is segmented into the following:
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Serotonin and Norepinephrine Reuptake Inhibitors (SNRI)
- Dopamine Reuptake Blocker
- Tetracyclic Antidepressant
- Tricyclic Antidepressants
In 2019, selective serotonin reuptake inhibitors (SSRIs) segment led the overall depression drugs market in terms of market value accounting for approximately 24% of the global market, as they are most commonly prescribed class of antidepressants. Imbalance of serotonin plays a major role in depression. Serotonin is a neurotransmitter that is present in the gut and in the brain. In the brain, low levels of serotonin have been associated with depression and anxiety as well as panic disorders and obsessive-compulsive behavior. They prevent reuptake of serotonin, thereby, enabling higher availability of serotonin in order to regulate mood. SSRI drugs include Prozac, Zoloft, Lexapro, and Paxil. However, serotonin-norepinephrine reuptake inhibitor (SNRI) will show high growth rate in following years due to its dual mechanism of action. It increases neurotransmitters serotonin and norepinephrine by inhibiting their reabsorption into cells in the brain. In addition to treating depression, some of the drugs in this category can also be used to relieve pain.
Global Depression Drugs Market, By End-use
Based on end-use, the depression drugs market is segmented into following:
- Major Depressive Disorder
- Schizophrenia and Bipolar Disorder
- Obsessive-Compulsive Disorders
- Anxiety Disorder
In 2019, major depressive disorder segment led the overall depression drugs market in terms of market value. This can be attributed as it is the most commonly diagnosed type of depression. It was estimated that about 6.7% of American adults, have had at least one major depressive episode in a given year. It affects the mood and behavior of a person along with various physical functions, such as appetite and sleep. It is caused due to psychiatric issues or genetic factors. In 2018, a genome-wide association study discovered 44 variants in the genome linked to risk for major depression. This was tracked by a 2019 study that found 102 variants in the genome linked to depression.
Global Depression Drugs Market, By Geography
Based on geography, the depression drugs market is segmented into following:
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
In 2019, North America held the largest share in the depression drugs market. This can be attributed due to rising average number of people suffering from depression in U.S. In 2017, an estimated 11 million U.S. adults aged 18 or older had at least one major depressive episode with severe impairment. More than 1 in 6 Americans take a psychiatric drug (such as an antidepressant or a sedative). Additionally, number of females suffering from distress before and after the pregnancies in US is rising. However, Asia Pacific region will propel significant rise in following years. Prevalence of depression rates have increased in some countries such as China, India, Japan, Korea, Thailand and Malaysia, among others. Japan shows significant rise in antidepressants market due to large aging population in this region. Additionally, rising awareness regarding mental health in these regions have significantly boost depression drugs market.