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Antidepressant Drugs Market Size
Antidepressant Drugs Market size exceeded USD 13.5 billion in 2020 and is anticipated to grow at over 7.2% CAGR between 2021 and 2027. Broader accessibility with number of available products in the market will significantly boost the product sales, thus benefiting the overall industry growth.
Supportive government initiatives to broaden accessibility of basic treatment for all mental health conditions will favour the market expansion. For instance, the European Commission launched RECOVER-E project under Horizon-2020 in 2018 for implementation of mental health service delivery model to improve mental health of population in Europe. Additionally, the Government of India proposed budget of more than USD 80 million for mental healthcare in its union budget for 2021-2022.
| Report Attributes | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 13.7 Billion (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 7.2% |
| 2027 Value Projection: | 22.5 Billion (USD) |
| Historical Data for: | 2016 to 2020 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 148 |
| Segments covered: | Drug Class, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Antidepressant Drugs Market Trends
Increasing burden of depression and associated mental health conditions will flourish the demand for antidepressant drugs. As per the World Health Organization, nearly 40 million people are suffering through depressive disorders in Europe that accounts for approximately 4.3% of overall regional population. Moreover, according to the Centers for Disease Control and Prevention, about 16 million adult individuals’ experiences depression in America every year. Such large patient pool will escalate the demand for antidepressant drugs. In addition, as per the World Health Organization, 3 out of 4 people suffering from depression does not receive proper treatment. This represents industry potential to business leaders for the market progression.
Antidepressant drugs market continued to witness revenue growth during COVID-19 pandemic. Emergence of COVID-19 has triggered one of the worst jobs crisis in several sectors that has led to economic instability. Along with economic instability, social isolation with movement restrictions has resulted in depression and anxiety among population.
Antidepressant Drugs Market Analysis
Serotonin-norepinephrine reuptake inhibitors (SNRIs) segment held around 9% of the antidepressant drugs market share in 2020. SNRIs are used as second line drug regime to treat patients suffering from anxiety and depression disorders. Its expanding applications in the treatment of abnormal psychological changes with better efficacy will enhance the product demand. Furthermore, these drugs are also proven to be effective for treatment of long-term nerve pain in anxiety disorders.
Generalized anxiety disorder (GAD) segment in the antidepressant drugs market is expected to showcase 7.8% growth rate through 2027. According to the Anxiety and Depression Association of America (ADAA), among 6.8 million people suffering from GAD, only 43.2% patients are receiving treatment in the U.S. Significant portion of population inclining towards overthinking about everyday life events contributes to rising patient pool.
Europe antidepressant drugs market accounted for more than 25% of revenue share in 2020 led by the growing awareness about therapies for mental disorders. Along with disease prevalence, rising disposable income, high healthcare spending, infrastructure development and availability of skilled workforce to address patient pool will foster the number of patients accessing treatment. Moreover, product launches to address concerns regarding various anxiety disorders by regional market participants expands drugs availability. Further, strong pipeline resulting into new product launches in future will spur revenue growth in the region.
Antidepressant Drugs Market Share
The global market consists of numerous companies including:
- Eli Lilly & Company
- N.V. Organon
- Takeda Pharmaceuticals
- Janssen Pharmaceuticals
- Novartis AG
- Opko Health
- Pfizer
- Bristol-Myers Squibb
- GlaxoSmithKline
- Patheon Inc
- Sandoz Inc
- Intra-Cellular Therapies
- Otsuka Pharmaceutical
- Zhejiang NHU Company Ltd
- Sun Pharmaceuticals Pvt. Ltd
These leaders have undertaken several growth strategies such as partnerships, business expansion, acquisitions and product launches to increase their market position.
The antidepressant drugs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:
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Market, By Drug class
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Serotonin-norepinephrine Reuptake Inhibitors (SNRIs)
- Tricyclic Antidepressants
- Others
Market, By Application
- Major Depressive Disorder
- Obsessive-compulsive Disorder
- Generalized Anxiety Disorder
- Panic Disorder
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Turkey
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
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