Antidepressants Market to Touch USD 18.29 Billion by 2027; Growing Awareness about Mental Health Conditions to Fuel the Market: Fortune Business Insights™

Top Players Covered in the Antidepressants Market Research Report Are Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel), AstraZeneca (Cambridge,…

Antidepressants Market to Touch USD 18.29 Billion by 2027; Growing Awareness about Mental Health Conditions to Fuel the Market: Fortune Business Insights™

Top Players Covered in the Antidepressants Market Research Report Are Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel), AstraZeneca (Cambridge, U.K), Pfizer Inc. (New York, U.S), Eli Lilly and Company (Indiana, U.S), H. Lundbeck A/S (Denmark, Europe), Bristol-Myers Squibb (New York, U.S), Merck & Co. Inc. (New Jersey, U.S), Janssen Pharmaceuticals (Beerse, Belgium), GlaxoSmithKline plc (Brentford, U.K) and other key market players.

March 08, 2021 04:27 ET


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Fortune Business Insights



Fortune Business Insights

Pune INDIA

Pune, India, March 08, 2021 (GLOBE NEWSWIRE) — The global

antidepressants market


size is projected to reach USD 18.29 billion by 2027, exhibiting a CAGR of 2.9% during the forecast period. The skyrocketing demand for depression management drugs amid the COVID-19 pandemic will rapidly broaden the horizons of this market, observes Fortune Business Insights™ in its report. According to a joint study conducted by researchers from Boston University, Brown University, and the Hassenfeld Child Health Innovation Institute, depression symptoms were three times higher during the coronavirus-induced lockdown.

The sudden spike in the prevalence of anxiety and depressive tendencies among populations has created major shortages of essential antidepressants worldwide. In Canada, for instance, Pfizer’s anti-depressant, Nardil, went out of stock in June 2020 and Health Canada predicts that the drug shortage is likely to last till August 2021. Furthermore, the US Food and Drug Administration (FDA) revealed in June 2020 that the antidepressant Zoloft is facing huge shortages as the pandemic has disrupted pharmaceutical supply chains. The dramatic rise in the demand for depression medications and the consequent surge in sales enabled the market to showcase a prolific CAGR of 28.0% in 2020, reaching USD 14.93 billion in value.


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Presence of Leading Market Players to Catalyze the Market in North America

North America is expected to dominate the antidepressants market share during the forecast period, backed by the strong presence and widespread operations of large pharmaceutical companies, such as Pfizer and Merck, in the US. These conglomerates, due to their sound financial health, are constantly engaged in the creation and launch of novel depression therapies, which has been the primary factor for the region’s apex position in this market. The North America market size stood at

USD 6.00 billion

in 2019.

In Europe, rising investments in clinical trials and huge funding for research & development activities will foster lasting growth of the regional market. On the other hand, Asia Pacific is set to present lucrative opportunities over the next decade as the increasing incidence of depression and anxiety disorders will stoke the adoption of anti-depressants.


Click here to get the short-term and long-term impacts of COVID-19 on this Market.


Increasing Application of AI in Detecting Depression to Open Floodgates of Innovation

The employment of artificial intelligence (AI) in identifying depressive behaviors in individuals is paving new pathways for the market growth. Several startups, healthcare technology entities, and academic institutions have been AI-based algorithms, systems, and tools for depression. For example, Baltimore-based Sunrise Health, a startup incubated under Johns Hopkins Technology Ventures, has developed a system that uses AI-based predictive analytics to regulate patient activity and inhibit the onset of mental health breakdown episodes through support-group texting. On the other hand, California-based startup, Mindstrong Health, utilizes machine learning (ML) to aid the diagnosis and treatment of behavioral health disorders by leveraging data generated from smartphones.

In June 2020, psychiatry researchers at Stanford University developed an AI-based algorithm to study brainwave patterns specific to depression patients, aiming to identify which symptoms change with treatment in a more pinpointed manner. Thus, AI has displayed vast potential in enhancing the efficacy and accuracy of antidepressants, thereby brightening the outlook of this market.


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List of Key Companies Covered in this Market Report:

Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)

AstraZeneca (Cambridge, U.K)

Pfizer Inc. (New York, U.S)

Eli Lilly and Company (Indiana, U.S)

H. Lundbeck A/S (Denmark, Europe)

Bristol-Myers Squibb (New York, U.S)

Merck & Co. Inc. (New Jersey, U.S)

Janssen Pharmaceuticals (Beerse, Belgium)

GlaxoSmithKline plc (Brentford, U.K)


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Some major points from Table of Content:

Introduction

Market Scope

Market Segmentation

Market Methodology

Definitions and Assumptions

Executive Summary

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities

Key Insights

Prevalence of Anxiety & Depression –Key Regions/Country

New Product Launch

Pipeline Analysis

Impact of COVID-19 on the Market

Key Industry Developments – Mergers, Acquisitions, and Partnerships

Global Antidepressants Market Analysis, Insights and Forecast, 2016-2027

Key Findings / Summary

Market Analysis, Insights and Forecast – By Drug Class

Selective Serotonin Reuptake Inhibitors (SSRIs)

Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs)

Atypical Antidepressants

Tricyclic Antidepressants (TCAs)

Monoamine Oxidase Inhibitors (MAOIs)

Others

Market Analysis, Insights and Forecast – By Disorder

Major Depressive Disorder

Obsessive Compulsive Disorder

Generalized Anxiety Disorder

Panic Disorder

Others

Market Analysis, Insights and Forecast – By Distribution Channel

Hospital Pharmacy

Retail Pharmacy

Online Pharmacy

Market Analysis, Insights and Forecast – By Geography

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

North America Market Analysis, Insights and Forecast, 2016-2027

Key Findings / Summary

Market Analysis, Insights and Forecast – By Drug Class

Selective Serotonin Reuptake Inhibitors (SSRIs)

Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs)

Atypical Antidepressants

Tricyclic Antidepressants (TCAs)

Monoamine Oxidase Inhibitors (MAOIs)

Others

Market Analysis, Insights and Forecast – By Disorder

Major Depressive Disorder

Obsessive Compulsive Disorder

Generalized Anxiety Disorder

Panic Disorder

Others

Market Analysis, Insights and Forecast – By Distribution Channel

Hospital Pharmacy

Retail Pharmacy

Online Pharmacy

Market Analysis, Insights and Forecast – By Country

U.S.

By Disorder

Major Depressive Disorder

Obsessive Compulsive Disorder

Generalized Anxiety Disorder

Panic Disorder

Others

Canada

By Disorder

Major Depressive Disorder

Obsessive Compulsive Disorder

Generalized Anxiety Disorder

Panic Disorder

Others

Continued…


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