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Pharmaceutical

Sales Of Depression Drugs Are Slated To Accelerate At A CAGR Of 4% By 2031

The depression drugs market, valued at over US$ 6.5 billion in 2017, is likely to witness bearishness in the near future, with a new report by Fact.MR estimating revenues to decline at a -2% CAGR. According to the study, although the prevalence rate of depression has gone up in the last decade, preference for cognitive behavior therapy (CBT) and awareness about the potential side effects has led to a decline in demand for depression drugs. The study finds that US continued to be at the forefront in terms of total depression drugs sold in 2018.

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According to the World Health Organization (WHO), depression has become one of the common illnesses, affecting over 300 million people across the world. In the United States, approximately 10.3 million adults had experienced at least one major depressive episode that resulted in severe impairment, according to the National Institute of Mental Health (NIMH). High prevalence of such depressive episode was observed among people aged 18-25 (10.9%), female adults (8.5%), and male adults (4.8%). According to the Fact.MR study, although depression continues to be a major health issue, medical community and patients are encouraging a non-drug approach to reduce side effects and dependency. Healthcare providers and patients are focusing on cognitive behavior therapy (CBT) and mindfulness-based approaches to foster a long-term management of depression and other mental health issues.

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.

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Depression Drugs Market to Remain Concentrated in Developed Nations

North America and Europe are the two largest depression drugs market globally, owing to concentration of leading market players and increase in R&D of these drugs. While there has been a rising burden of mental illness such as bipolar I disorder and schizophrenia in China and India, lack of wide-ranging awareness regarding antidepressant medications (ADMs) is expected to negatively affect the growth of depression drugs market in the Asia Pacific region. Moreover, different therapies of depression are as efficacious as ADM and their effects are more enduring, which may create a hindrance in future expansion of depression drugs market, especially in Asia Pacific and Middle East & Africa.

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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.

Consumption Analysis of Depression Drugs (2016-2020) Vs Market Outlook (2021 to 2031)

As per Fact.MR, a market research and competitive intelligence provider, the global market for depression drugs was valued at US$ 13 Bn in 2020.

According to the World Health Organization (WHO), depression is one of the primary causes of disability, affecting more than 350 Mn people worldwide. Major factors driving growth of the depression medications market are the rising prevalence of mental diseases such as social anxiety and depression and increasing demand for serotonin-norepinephrine reuptake inhibitors (SNRIs).

Discovery of innovative approaches for development of tricyclic antidepressants with minimum side effects and long-term results, together with rising acceptance of new treatments, is expected to propel market expansion over the coming years.

Government measures to make basic treatment for all mental health issues more accessible will help the market expansion. Furthermore, rising concern about the disease condition and essential therapeutic demands, increase in the number of people suffering from stress, and rising sales of CNS stimulants are driving the market growth.

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Global Depression Drugs Market: Competitive Landscape

Some key players operating in the manufacturing of depression drugs are

  • Otsuka Pharmaceutical Co., Ltd.
  • Johnson & Johnson
  • Sebela Pharmaceutical Inc.
  • GlaxoSmithKline plc
  • AstraZeneca plc
  • Eli Lilly and Company
  • Allergan USA Inc.
  • Takeda Pharmaceutical Company Ltd
  • Novartis AG
  • Pfizer, Inc.
  • Alkermes Plc
  • H. Lundbeck
  • Bristol Myers Squibb Co.

Teva Pharmaceutical Industries Ltd.

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Categories
Pharmaceutical

Tricyclic Antidepressants Market: North American Regional Market is Projected to Expand 1.3X by 2031 End

250 Pages Tricyclic Antidepressants Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider

According to Fact MR’s recent market research, sales of Tricyclic Antidepressants to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.

Focus on improving overall patient care will remain a chief growth driver. Besides this, Tricyclic Antidepressants market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.

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The global Tricyclic Antidepressants market reached a valuation of around US$ 13 Bn in 2020, which amounts to close to 50% share of the psychotropic drugs market.

Sales of Tricyclic Antidepressants are slated to accelerate at a CAGR of 4% to top US$ 20 Bn by 2031. Demand for serotonin-norepinephrine reuptake inhibitors (SNRIs), which hold the highest market share, is set to increase at a CAGR of 2% across the assessment period of 2021 to 2031.

Tricyclic Antidepressants Market Size (2020) US$ 13 Bn
Sales Forecast for Tricyclic Antidepressants (2031) US$ 20 Bn
Global Market Growth Rate (2021 to 2031) 4% CAGR
Share of Top 5 Depression Drug Manufacturers 40%

Depression drugs market regional analysis by Fact.MR

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Tricyclic Antidepressants market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Tricyclic Antidepressants

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Key Segments in Tricyclic Antidepressants Industry Research

  • Drug Type

    • Generic Tricyclic Antidepressants
    • Branded Tricyclic Antidepressants
  • Drug Class

    • Serotonin-norepinephrine Reuptake Inhibitors (SNRIs)
    • Selective Serotonin Reuptake Inhibitors (SSRIs)
    • Atypical Antipsychotics
    • Central Nervous System (CNS) Stimulants
    • Tricyclic Antidepressants
    • Monoamine Oxidase Inhibitors
  • Disease Type

    • Tricyclic Antidepressants for Major Depressive Disorder
    • Tricyclic Antidepressants for Obsessive-Compulsive Disorder
    • Tricyclic Antidepressants for Generalized Anxiety Disorder
    • Tricyclic Antidepressants for Panic Disorder
    • Tricyclic Antidepressants for Schizophrenia
    • Tricyclic Antidepressants for Bipolar 1 Disorder
  • Distribution Channel

    • Sales of Tricyclic Antidepressants via Hospital Pharmacies
    • Sales of Tricyclic Antidepressants via Retail Pharmacies
    • Sales of Tricyclic Antidepressants via Online Pharmacies

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Competitive Landscape

Top manufacturers in the Tricyclic Antidepressants market are adopting sustainable growth strategies to diversify their product portfolio, sustain their position in the global market, intensify their customer base, and garner share in the global depression medicines market.

  • In June 2021, Nippon Chemiphar Co., Ltd and Sumitomo Dainippon Pharma Co., Ltd announced a joint R&D agreement as well as an agreement for the clinical study of the novel antidepressant candidate NC-2800.

Key Takeaways from Market Study

  • Global Tricyclic Antidepressants 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%.

“Ongoing research & development, emergence of novel non-pharmacologic and pharmacologic therapies, and growth in the number of collaborations between research institutes and pharmaceutical companies are expected to boost growth of the Tricyclic Antidepressants market over the coming years,” says a Fact.MR analyst.

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Report Benefits & Key Questions Answered

  • Tricyclic Antidepressants Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
  • Tricyclic Antidepressants Historical volume analysis: The report provides a comparison of Tricyclic Antidepressants’s historical sales and projected sales performance for 2021-2031.
  • Tricyclic Antidepressants Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Tricyclic Antidepressants market. It carefully gauges the impact of changing healthcare needs of key demographics globally
  • Tricyclic Antidepressants Consumption by demographics: The report investigates consumer behavior affecting Tricyclic Antidepressants demand outlook for the assessment period. Effect of their keenness for digital trends on Tricyclic Antidepressants market is carefully analyzed
  • Post COVID consumer spending on Tricyclic Antidepressants: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Tricyclic Antidepressants market growth.

More Valuable Insights on Tricyclic Antidepressants Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Tricyclic Antidepressants, Sales and Demand of Tricyclic Antidepressants, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates