Depression Drugs Market to Surpass US$ 15,379.0 Million by 2028 - Coherent Market Insights

Global Depression Drugs Market, by Drug Type (Antidepressants (Selective Serotonin Reuptake Inhibitors (SSRIs), Selective Norepinephrine Reuptake Inhibitors (SNRIs), Serotonin Modulators, Tricyclic & Tetracyclic Antidepressants and Atypical Antidepressants), Antipsychotics and Others), by Indication (Major Depressive Disorder (MDD), Bipolar Disorder, Dysthymic Disorder, Postpartum Depression, Seasonal Affective Disorder (SAD), Premenstrual Dysphoric Disorder (PMDD), and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.

Major players are involved in research and development activities for the development of novel therapeutics to treat various types of depression. Such a robust pipeline of novel therapeutics in clinical trials that may get approved in the near future is expected to fuel the market growth.

For instance, in August 2021, Axsome Therapeutics, Inc., a biopharmaceutical company is developing AXS-05, a novel, oral, investigational drug product for the treatment of central nervous system (CNS) disorders. Currently, AXS-05 is under Phase III clinical trial, which is indicated for the treatment of resistant depressive disorder.

Global Depression Drugs Market – Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced- social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic.

For instance, according to the Applied Clinical Trails registry in April 2020 study, investigative sites demonstrated flexibility and ingenuity in adopting new approaches to cope with the challenges of COVID-19, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020 have identified persistent impact of COVID, with over 60% reporting an 'average' or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment.

Browse 34 Market Data Tables and 28 Figures spread through 231 Pages and in-depth TOC on “Depression Drugs Market,”- Global Forecast to 2028, by Drug Type (Antidepressants (Selective Serotonin Reuptake Inhibitors (SSRIs), Selective Norepinephrine Reuptake Inhibitors (SNRIs), Serotonin Modulators, Tricyclic & Tetracyclic Antidepressants and Atypical Antidepressants), Antipsychotics and Others), by Indication (Major Depressive Disorder (MDD), Bipolar Disorder, Dysthymic Disorder, Postpartum Depression, Seasonal Affective Disorder (SAD), Premenstrual Dysphoric Disorder (PMDD), and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa).

To know the latest trends and insights prevalent in the global depression drugs market, click the link below:

https://www.coherentmarketinsights.com/market-insight/depression-therapeutics-market-1307

Key players in the market are focused on development and approval of novel depression drugs. For instance, Johnson & Johnson developed SPRAVATO (esketamine) CIII nasal spray for use in conjunction with an oral antidepressant in adults with treatment-resistant depression (TRD). The therapy gained the U.S. FDA approval in March 2019.

SPRAVATO works on the N-methyl-D-aspartate (NMDA) receptor, an ionotropic glutamate receptor in the brain. The medicine is administered as a nasal spray that is absorbed by the lining of the nasal passages and into the blood stream.

Therefore, key players in the market have opportunity to develop and launch such novel depression therapeutics.

Key Takeaways of the Global Depression Drugs Market:

• The global depression drugs market is expected to exhibit a CAGR of 3.7% over the forecast period, owing to the high presence of several generic manufacturers who offer innovative generic products at competitive prices. For instance, in 2016, InvaGen Pharmaceuticals Inc., a subsidiary of Cipla Ltd., received final approval for its Abbreviated New Drug Application (ANDA) for Bupropion Hydrochloride Extended Release Tablets (XL), 150mg and 300mg, from the U. S. Food and Drug Administration (FDA) to market a generic version of Valeant’s Wellbutrin XL Tablets, 150mg and 300mg.
• Among drug type, antidepressants segment accounted for largest market share in 2020, owing to high prevalence of depression disorders and increasing prescriptions of antidepressants for its treatment. For instance, according to the data published by American Psychological Association in 2017, there was 64% increase in the percentage of people using antidepressants between 1999 and 2014 in the U.S.
• Key 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.