Global Depression Drug Market to Increase to $16.8 billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/14/2017 -- Zion Market Research has published a new report titled "Depression Drug (Benzodiazepines, SNRIs, TCAs, TeCAs, Atypical Antipsychotics, Monoamine Oxidase inhibitors and Others) Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020" According to the report, the global depression drug market was valued at USD 14.51 billion in 2014 and is expected to generate revenue of USD 16.8 billion by end of 2020, growing at a CAGR of 2.50% between 2015 and 2020.
Depression is a medical disorder that mainly involves brain. Individual with depression feel sad, tired, lack energy, and have intricacy enjoying routine activities every day. It is a very common condition that affects about 1 in every 5 individual in the U.S. Many factors can cause depression, including genes, factors such as stress and brain chemistry. According to WHO (world health organization and center for disease control) at present an estimated 350 million people worldwide are affected with depression.
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Some of the key reasons driving depression drug market are growing geriatric population, rising efficacy and declining side effects of drugs in numerous classes. Nevertheless, present circumstances specifies that the overall depression drug market would decline owing to patent expiry of main antidepressants, rising number of generic drug variants and weak pipeline of new drugs.
Different types of depression also have dissimilar symptoms. Several types of depression disorders include postpartum depression, major or clinical depressive disorder, dysthymic disorder, psychotic depression and seasonal affective disorder. Different classes of depression drugs are anticonvulsants, serotonin-norepinephrine reuptake inhibitors, beta-blockers, benzodiazepines, tetracyclic antidepressants (TeCAs), selective serotonin reuptake inhibitors (SSRIs) and monoamine oxidase inhibitors (MAOIs) among others. Among all classes, SNRIs emerged as budding segment in 2014 and held more than 32% of the overall market share. However, it is predicted that this segment may exhibit decline in growth in the near future.
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Geographically, North America emerged as major regional market for the global depression drug in 2014. This dominance was mainly because of presence of large population infected with numerous kinds of depression and anxiety disorders. Currently, U.S. is saturated as a variety of antidepressant drugs are available on prescription for the similar symptom. Depression drug market growth heavily relies on introduction of more efficient drugs for latest symptoms. Asia Pacific is predicted to show moderate growth due to presence of emerging economies such as Japan, Australia and China. Growth in this region is attributed to different factors such as positive marketing approval for novel medicines, presence of a large population base in the region and increasing geriatric population.
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Major companies operating in this field are H. Lundbeck, Opko Health, Gedeon Richter, Intra-Cellular Therapies, Janssen Pharmaceuticals, Lupin, Luye Pharma, MSI Methylation Sciences, Naurex, Abbott Laboratories, Novartis, Otsuka Pharmaceutical and SK Biopharmaceuticals among others.
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