Anti-Suicide Drugs Market to Surpass US$ 4.8 Billion by 2024

Published On : Mar 17, 2017

The Global Anti-suicide Drugs Market was valued at US$ 3,318.3 million in 2015 and is projected to expand at a CAGR of 4.2% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Introduction of novel approved drugs, expected to be commercialized post-2020, intended for treatment of suicidal ideation would be a major breakthrough for the global anti-suicide drugs market.

Until recently, suicidal ideation has been treated with anti-depressants, anti-anxiety, and anti-psychotic drugs. The trend would continue until the expected launch of Cyclurad by NeruoRx Pharma during the latter half of the forecast period (2016–2024). Cyclurad is a combination of D-cycloserine and Lurasidone and indicated for Acute Suicidal Ideation/Behavior (ASIB) in Bipolar Depression. Other drug candidates are also in the pipeline, intended for treatment of suicidal ideation in major depressive disorder (MDD).

To know the latest trends and insights prevalent in the anti-suicide drugs market, click the link below:

https://www.coherentmarketinsights.com/market-insight/anti-suicide-drugs-market-10

Some of the potential drug candidates used for treatment of suicidal ideation include N-Methyl-D-aspartate receptor (NMDAR) agonists and antagonist. Key players in the market are focused on developing anti-depressants and anti-psychotic drugs for treatment of patients at high risk of suicide. The global anti-suicide drugs market is majorly driven by off-label recommendations and prescriptions of anti-depressants, anti-anxiety, and anti-psychotic drugs.

Suicide is one of the major economic burdens for various countries. According to the World Health Organization (WHO), over 800,000 people commit suicide annually. Most of the suicidal deaths occur in Asia, Africa, and Eastern Europe. Some of the organizations such as Stop Suicide, Yellow Ribbon Suicide Prevention Program, and American Foundation for Suicide Prevention are some of the leading organizations working for preventing suicides. Furthermore, high prevalence of suicidal attempts and death is propelling demand for development of novel drugs for growth of the anti-suicide drugs market.

However, inadequate healthcare infrastructure and high cost of medications and treatment is hindering growth of the market in emerging economies such as India, China, Brazil, and Indonesia. Therefore, key players are introducing novel anti-suicidal drugs to overcome challenges in market, which in turn is projected to fuel growth of the market. Furthermore, high suicidal rates and accessibility to better medical therapies are driving growth of the anti-suicide drugs market in these region.

Key takeaways of the market:

  • The global anti-suicide drugs market is majorly characterized by the use of anti-depressants, anti-anxiety and anti-psychotic drugs
  • The global anti-suicide drugs market is expected to expand at a CAGR of 4.2% during the forecast period (2016–2024). Rising incidence of suicides across the globe is expected to favor the market growth for anti-suicide drugs over the forecast period.
  • Suicidal rates are higher in Asia, Eastern Europe and Africa regions
  • The antibiotic analog (NMDA agonist) segment in the global anti-suicide drugs market is estimated to be growing faster post its FDA approval and commercialization
  • Market growth for anti-depressants and anti-anxiety drugs is projected to be impacted negatively by the launch of FDA approved anti-suicidal drugs expected towards the latter-half of the forecast period
  • Some of the major players present in the global anti-suicide drugs market are Pfizer, Inc., AstraZeneca plc, Eli Lilly and Company, Allergan plc, GlaxoSmithKline plc, Merck & Co., Inc., H. Lundbeck A/S, NeuroRx, Inc., and Johnson & Johnson

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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