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 it becomes a serious condition when the individual feels lost, angry, frustrated, and gloomy very frequently. Antidepressants are used to treat a wide range of mental health conditions, including depression, anxiety, and major depressive disorder. Certain neurotransmitters in the brain exist in the chemical form such as dopamine and serotonin, which are responsible for maintaining emotional balance such as mood and behavior. Antidepressants cover a wide range of drug categories, including selective serotonin reuptake inhibitors (SSRIs), serotonin and norepinephrine reuptake inhibitors (SNRIs), monoamine oxidase inhibitors (MAOIs), tricyclic antidepressants (TCAs), and serotonin receptor modulators (SRMs). These medications exhibit different pharmacological actions in the brain once administered to regain the chemical balance in the brain, associated with behavioral disorders such as depression.
The global depression drugs market is estimated to be valued at US$ 11,939.2 million in 2021 and is expected to exhibit a CAGR of 3.7% over the forecast period (2021-2028).
Figure 1. Global Depression Drugs Market Share (%), By Region, 2021
Increasing prevalence of depression disorder is expected to drive the market growth over the forecast period
According to the WHO data published in October 2019, 20 million people across the globe have been affected with schizophrenia in 2019.
According to the data published by World Health Organization (WHO), in 2018, around 300 million people of all ages suffered from depression, globally.
Furthermore, according to the data published by National Institute of Mental Health (NIMH), it was estimated that in 2017, around 17.3 million adults in the U.S. had at least one major depressive episode. This number represented 7.1% of all the U.S. adults.
|Base Year:||2020||Market Size in 2021:||US$ 11,939.2 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||3.7%||2028 Value Projection:||US$ 15,379.0 Mn|
Merck & Co., Inc., GlaxoSmithKline plc, AstraZeneca Plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Johnson & Johnson, Sanofi S.A., Pfizer, Inc., Allergan plc, H. Lundbeck A/S, and Alkermes
|Restraints & Challenges:||
Figure 2. Global Depression Drugs Market Value (US$ Mn), By Drug Type, 2021
Rising approval of novel drugs for the treatment of depression disorder is expected to drive the market growth over the forecast period
Key players in the market are involved in gaining approval for its novel depression drugs and launching them in the market. Such approval and launch of novel drugs indicated for treatment of various types of depression is expected to drive the market growth over the forecast period.
For instance, in March 2019, Janssen Pharmaceutical Companies of Johnson & Johnson received the U.S. Food and Drug Administration (FDA) approval for SPRAVATO (esketamine) CIII nasal spray for use in conjunction with an oral antidepressant in adults with treatment-resistant depression (TRD).
In March 2019, Sage Therapeutics, Inc., a pharmaceutical company, received the U.S. FDA approval for its ZULRESSOTM (brexanolone) injection for the treatment of postpartum depression (PPD). ZULRESSO is specifically approved to treat postpartum depression (PPD), the most common complication of behavioral changes after childbirth in patients.
Global Depression Drugs Market – Impact of Coronavirus (Covid-19) Pandemic
During the Covid-19 pandemic, pharmaceutical businesses, clinical tool companies, and biotechnology firms are facing difficulties due to interruption in supply chains and the demand to transform service processes. There is a significant impact of COVID-19 on clinical trials. The impact includes: undermining sponsors’ economic ability to fund clinical trials, social distancing, impeding recruitment of participants for non-COVID-19 clinical trials, discouraging participants from visiting clinical sites due to fear of COVID-19 infections, and making trial staff to opt for remote working. The U.S. FDA published new guidelines to be applied during the ongoing pandemic. Mitigation strategies to ensure the continuity of clinical trials such as adopting participant enabling measures, modifying clinical trial protocol, providing logistical and supply chain management support, embracing remote data review, clinical site monitoring, and offering extra site support services.
Global Depression Drugs Market: Restraint
Presence of alternative treatment methods for various types of depression is expected to be a major factor restraining the market growth over the forecast period. For instance, in May 2019, the U.S. FDA approved Innovative Neurological Devices LLC’s Cervella Cranial Electrotherapy Stimulator. The U.S. FDA cleared the Cervella medical device for treatment of anxiety, depression, and insomnia.
Moreover, the side effects associated with depression drugs is expected to be a factor negatively affecting the growth of the market up to a certain extent, as patients hesitate to undergo medication therapy due to fear and lack of awareness about the medication therapy. For instance, the U.S. FDA asked the manufacturers of Prozac and all antidepressants to add a black box warning on the product indicating a risk of suicidal tendency in children and teenagers, in 2004, which affected the prescription rate of the medication. Furthermore, other side effects such as nausea, sexual dysfunction, anxiety, and insomnia also limit the adoption rate of the drugs, thereby restraining the growth of the market.
Major players operating in the global depression drugs Market include Merck & Co., Inc., GlaxoSmithKline plc, AstraZeneca Plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Johnson & Johnson, Sanofi S.A., Pfizer, Inc., Allergan plc, H. Lundbeck A/S, and Alkermes.
Depression has emerged as a ‘silent killer’ in several regions across the world, particularly in urban cities. The prevalence of depression continues to grow rapidly with considerably high mortality and morbidity rate due to which, the healthcare sector continues its pursuit of novel medications and therapies. Antidepressants are prescribed in serious to mild mental health conditions such as major depression and anxiety. Antidepressant drug category is highly lucrative due to low availability of alternative drug therapies for the treatment of such disorders. Drug manufacturers are increasingly advancing the antidepressant drug category by introducing innovative therapies such as selective serotonin reuptake inhibitors (SSRIs) and selective norepinephrine reuptake inhibitors (SNRIs). Depression is one of the most common mental disorders, which are primarily treated by antidepressants. According to National Health Service Digital (NHS Digital), UK, antidepressant medication prescription observed the largest increase in 2016.
The global depression drugs market is driven by factors such as absence of alternative therapies and high presence of generic drug manufacturers in the market. Increasing number of major drugs are losing patent protection due to which increasing number of generic manufacturers are developing product variations, which in turn is boosting the growth of the market. Proven effectiveness of these medications in improving medical outcomes and increasing prevalence of disorders such as depression are fueling growth of the market.
For instance, Fetzima, manufactured by Allergan Plc., is protected by three patents, which are expected to expire in 2031, 2032, and 2023.
However, life threatening side effects associated with these medications as indicated by the black box warning on the packaging, as well as lack of research and development by major players are expected to hinder growth of the depression drugs market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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