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Depression is a health disorder related to mental health. It is characterized by many types of mental changes like absence of positivity, feelings of misery and sadness, and anxiety. A short term prevalence of such conditions is not an issue but in long term these issues can take the form of depression. It is considered serious and more conditions like anger and frustration can be experienced later on. Mental health awareness is spreading fast and is not considered a taboo any more. Although increase in cases of depression have been observed, the demand of depression drugs has comparatively declined. The major factor behind this decline is therapy. Demographics has shifted towards taking professional help for therapies like cognitive behavior therapy (CBT) instead of taking drugs prescription. This development is the result of growing awareness about the side effects of drugs that generally occur in long time.
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10Mn adult US population affected
National Institute of Mental Health conducted a study which states that mental disorders were reported in more than 10Mn adult population in U.S alone. The cases of depression is estimated to be greater in female adult population. The comparison between female and male cases can be compared with the percentage. 4.8% male adults can be compared with 8.5% female adults. The global depression drugs market is primarily driven by two major factors that are growth in old age population and increased prevalence of chronic diseases. Increased awareness regarding the side effects of drugs have compelled the manufacturers to look for advanced technologies that can help to manufacture drugs which have minimal side effects.
North America leads
Latest fact.MR report starts that North America leads the global depression drugs market. The major factor behind this position is presence of market players who are constantly striving to expand their market, which in turn propels the global market. Mental healthcare organizations in the region also play a significant part by spreading awareness about mental disorders. Consumers are looking forward to non-clinical treatments instead of drugs owing to their side effects. This is expected to challenge the market growth in the forecast period. Europe owns the second largest global depression drugs market share owing to the enhanced research and development activities going on in the region which are aimed to increase the efficacy of the commercially available drugs for depression.
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One of the major factors that challenges the global depression market growth is the time period of drug’s impact. Depression drugs are known to have impact for certain time period. In long term its impact decrease and then fades. Once the effect of these drugs is over, the brain functionality changes and normal brain functionality is affected. Various symptoms that can occur in such situations are blurred vision, insomnia, loss of coordination and dizziness.
Major stake holds in global depression drugs market include Johnson and Johnson Novartis AG, GlaxoSmithKline, AstraZeneca, Pfizer Inc, Allergan USA Inc., Otsuka Pharmaceutical Co., Ltd., Bristol Myers Squibb Co., and H. Lundbeck.