Depression Drugs Market: Middle East & Africa to Offer Significant Incremental Opportunity, TMR
The demand within the global market for depression drugs has been rising alongside growing incidence of mental disorders. A number of global healthcare organisations have termed depression as a worldwide problem that could affect people of all age groups. Hence, the global depression drugs market is projected to attract attention from key investors in the years to follow. Henceforth, the global depression drugs market is projected to accumulate voluminous revenues in the years to follow. Furthermore, the advent of awareness campaigns aimed at breaking the trivia around depression has also given an impetus to market growth. Hence, the global depression drugs market is projected to attract voluminous revenues in the years to follow.
This blog by Transparency Market Research (TMR) on the global depression drugs market is an elucidation of the various forces that have aided market growth.
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Focus on Treating Mental Disorders
The global upsurge with regards to the treatment of mental disorders such as stress, depression, and anxiety has created ripples across the medical fraternity. Hence, the global market for depression drugs is projected to expand at a stellar pace in the years to follow. Furthermore, online campaigns aimed at educating people about depression have also paved way for the growth of the global depression drugs market.
Depression Drugs Market: Segmentation
The global depression drugs market can be been classified on the basis of distribution channel, disease type, drug class, and region. Based on drug class, the market can be categorized into atypical antipsychotics, serotonin–norepinephrine reuptake inhibitor, selective serotonin reuptake inhibitor, central nervous system (CNS) stimulant, and others. Among these, the atypical antipsychotics segment leads the market and is expected to continue its dominance during the forecast period, followed by the Serotonin–Norepinephrine Reuptake Inhibitor segment. The significant market share of the atypical antipsychotics segment can be attributed to the launch of drugs in developed countries, such as the U.S. and Canada.
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In terms of disease type, the depression drugs market can be been classified into major depressive disorder, schizophrenia and bipolar I disorder, selective serotonin reuptake inhibitor induced, and others. Major depression disorder accounted for highest market share in 2017 owing to high work stress all over the world.
Based on distribution channel, the depression drugs market can be bifurcated into online pharmacies, hospital pharmacies, and retail pharmacies. Among these, the retail pharmacies segment held the maximum share of the market in 2017. The segment is projected to dominate the market during the forecast period, which can be attributed to the increasing prevalence of depression disorders across the world and rising preference of patients to buy drugs from retail pharmacies. However, hospital pharmacies and retail pharmacies are anticipated to witness a decline in their market share during the forecast period owing to expiry of exclusivity of depression drugs.
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North America to Expand at a Stellar Pace
On the basis of geography, the global depression drugs market has been segmented into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. The market for depression drugs in North America is expanding alongside advancements in the domain of mental health treatments.
Major companies operating in the global depression drugs and profiled in the report include Otsuka Pharmaceutical Co., Ltd., Eli Lilly and Company, Pfizer Inc., AstraZeneca, Allergan USA, Inc., Novartis AG, GlaxoSmithKline, Takeda Pharmaceutical Company Ltd, Sebela Pharmaceutical Inc, and Johnson & Johnson. These players have adopted both inorganic and organic growth strategies to expand their drug offerings, strengthen their reach globally, garner market share, and increase their customer base.
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