Global Antidepressants Market Growth to 2030 and COVID-19
Dublin, April 29, 2021 (GLOBE NEWSWIRE) — The “Global Antidepressants Market Report 2021: COVID-19 Implications and Growth to 2030” report has been added to from ResearchAndMarkets.com offer.
The global antidepressant market is expected to grow from $26.25 billion in 2020 to $15.87 billion in 2021 at a compound annual growth rate (CAGR) of -39.5%. The change in growth trend is mainly due to the companies stabilizing their production after meeting the demand which increased exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $21.28 billion in 2025 with a CAGR of 7.6%.
Globally, the increase in cases of mental health disorders is the key driver for the growth of the antidepressant industry, as many customers rely on these drugs to fight depression, anxiety disorders, and depression. other mental illnesses. Antidepressant medications are used in conditions such as depression, OCD, childhood enuresis, major depressive disorder, severe anxiety disorder, bipolar disorder, post-traumatic stress disorder (PTSD) and anxiety disorder. social anxiety. Globally, the percentage of people with depression ranges from 2% to 6%, and older people are at higher risk of depression than other age groups. According to the WHO, in 2020, around 264 million people of all ages worldwide suffered from depression. Hence, increasing instances of mental health disorders are expected to drive the growth of the antidepressants market.
Antidepressant side effects are a key factor hindering the growth of the antidepressant market. For example, the antidepressants Lexapro (escitalopram) and Celexa (citalopram), both are used to treat depression, and Lexapro also helps treat anxiety. Lexapro and Celexa can cause side effects common to others, including nausea, insomnia, sweating, dry mouth, and drowsiness. Both Celexa and Lexapro are at risk for even more serious side effects, including excessive bleeding, seizures, and vision problems. Hence, the side effects of antidepressants are expected to limit the growth of the antidepressants market.
In May 2018, Allergan, an Ireland-based company focused on developing, manufacturing and marketing branded pharmaceutical, device, biological, surgical and regenerative medicine products for patients worldwide, acquired Aptinyx for a unclosed amount. Through this acquisition, Allergan has gained important insights into NMDA receptor modulation as a potential therapeutic approach for depression. Aptinyx, a clinical-stage biopharmaceutical company focused on the discovery and development of transformative therapies for challenging neurological disorders.
The antidepressant market also surged during the Covid-19 outbreak. The rising number of cases and deaths is affecting mental health by increasing anxiety around the world. People who already live with mental health issues are experiencing increased levels of stress during the COVID-19 outbreak. This triggered the demand for antidepressant drugs.
The treatment of resistant depression is a key trend in the antidepressant market. Ketamine is the new treatment used for anesthesia during surgery, stimulates the development of glutamate and stimulates the brain to form new neural connections. It makes the brain more adaptable and able to develop new pathways and helps people create more optimistic thoughts and behaviors. In 2019, the Food and Drug Administration (FDA) approved a new ketamine-based depression drug, esketamine, which is half the compound ketamine. The drug should be given as a nasal spray and patients should take another antidepressant at the same time. Also, drugs can only be prescribed to patients who have already tried (unsuccessfully) two antidepressants.
- The market size section gives the market size (in billions of dollars) covering both the historical growth of the market, the influence of the COVID-19 virus and its growth forecast.
- Market segmentations break down the market into sub-markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth. It covers the growth trajectory of COVID-19 for all regions, major developed countries and major emerging markets.
- The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies. The main financial transactions that have shaped the market in recent years are identified.
- The trends and strategies section analyzes the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The Antidepressants Market section compares the Antidepressants Market with other segments of the Antidepressants Market by size and growth, historical and forecast. It analyzes the proportion of GDP, expenditure per capita, comparison of antidepressant indicators.
- Allergan PLC
- Astra Zeneca
- Eli Lilly and company
- GlaxoSmithKline PLC
- H.Lundbeck AS
- Johnson & Johnson
- Pfizer Inc.
- Merck & Co. Inc.
- Sun Pharmaceuticals Pvt Ltd
- Bristol Myers Squibb Company
- Teva Pharmaceutical Industries
- Eli Lilly and Co.
- Takeda Pharmaceutical Co.Ltd
- Forest laboratories
- Akeda Pharmaceutical
For more information on this report, visit https://www.researchandmarkets.com/r/z79s1i
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and the latest trends.