As per a recently published report by Fact.MR, a market research and competitive intelligence provider, the global depression drugs market is anticipated to top US$ 20 Bn by 2031, progressing at a steady CAGR of 4% over the period (2021-2031).
Depression comprises multiple mental health challenges characterized by the absence of positivity, which leads to feelings such as misery, sadness, and anxiety. Such feelings are normal only if they exist for a short period of time and become a serious condition when the individual feels lost, angry, frustrated, and gloomy very frequently.
For detailed insights on enhancing your product footprint, request a sample here- https://www.factmr.com/connectus/sample?flag=S&rep_id=3215
Adult and teenage depression is on the rise due to a variety of factors, including poor nutritional habits, social isolation, and work-life imbalance. Rising awareness regarding depression as a psychological disorder and the methods and strategies used to treat it have increased the use of these medications by patients of all groups.
Growing senior population suffers from social isolation from friends and family, as well as other health-related difficulties, which is expected to fuel market growth of depression drugs over the next ten years.
Popularity of Tech-based Mental Health Apps also Contributing to Low Sales
The study finds that demand for depression drugs is also witnessing a decline as end-users have more coping options at their disposal. The huge popularity of mental health apps, such as Headspace, Calm, Moodnotes, Pacifica, and SuperBetter has given patients more control over how they manage depression. Considering the growing body of research supporting the use of meditation and cognitive behavior therapy, the proliferation of tech apps has witnessed a spike in the recent years. The study finds that depression drugs market will continue to be influenced by these evolutions.
Key Segments in Depression Drugs Industry Research
- Generic Depression Drugs
- Branded Depression Drugs
- Serotonin-norepinephrine Reuptake Inhibitors (SNRIs)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Atypical Antipsychotics
- Central Nervous System (CNS) Stimulants
- Tricyclic Antidepressants
- Monoamine Oxidase Inhibitors
- Depression Drugs for Major Depressive Disorder
- Depression Drugs for Obsessive-Compulsive Disorder
- Depression Drugs for Generalized Anxiety Disorder
- Depression Drugs for Panic Disorder
- Depression Drugs for Schizophrenia
- Depression Drugs for Bipolar 1 Disorder
- Sales of Depression Drugs via Hospital Pharmacies
- Sales of Depression Drugs via Retail Pharmacies
- Sales of Depression Drugs via Online Pharmacies
For comprehensive insights on this market adoption, ask an analyst here- https://www.factmr.com/connectus/sample?flag=AE&rep_id=3215
Key Takeaways from Market Study
- Global depression drugs market to top US$ 20 Bn by 2031.
- Serotonin-norepinephrine reuptake inhibitors (SNRIs) expected to record above 2% CAGR over the next 10 years.
- Major depressive disorder segment to record around 1% CAGR over the forecast period of 2021- 2031.
- Market in North America holds share of more than 40%.
Depression Drugs Market: Segment-wise Insights
- On the basis of drug class, the global depression drugs market has been segmented into SSRIs, atypical antipsychotics, SNRIs, CNS stimulants, and others. Of these, atypical antipsychotics is expected to contribute the largest share in the market.
- Major depressive disorder has been envisaged to account for the most substantial share in the depression drugs market based on disease type. Other sub-segments include SSRI induced, schizophrenia, and bipolar I disorder.
- While depression drugs are sold across retail, hospital, and online pharmacies, the retail segment registered the largest share in 2017, and the trend is expected to continue during the 2018-2026 period.