Depression Drug Market worth $16.8 billion and CAGR 2.50% by 2020

Depression Drug Market worth $16.8 billion and CAGR 2.50% by 2020
Depression Drug Market
Depression Drug Market

According to the report, the global depression drug market is expected to generate revenue of USD 16.8 billion by end of 2020, growing at a CAGR of 2.50% till 2020.

Depression is an illness that leads to continual loss of interest and feeling of sadness. Clinical depression or depressive disorder affects the way someone feels, thinks and behaves and can cause several physical and emotional problems. The age group with the utmost rates of depression is below 20 years, with puberty being the usual age of beginning for depression. Depression is a very widespread illness, affecting among about 10% to 15% of men and 10% to 25% of women. Although depression affects individuals of all ages, around twice as many women as men are treated with clinical depression.

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The major driver of the global depression drug market is the escalating prevalence of anxiety and depression disorders. Some of the key reasons driving depression drug market are growing geriatric population and rising effectiveness and declining side effects of drugs in numerous classes. However, drug resistant-mental disorders are likely to challenge the growth of the depression drug market. Regardless of this decline in sales high global prevalence of depression which is the major reason for disability and small market penetration in a few areas, offers several opportunities.

The different types of depression also have different symptoms, including major or clinical depressive disorder, postpartum depression, dysthymic disorder, psychotic depression and seasonal affective disorder.

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Depending upon class global depression drug market is segmented as anticonvulsants, serotonin-norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors (SSRIs), beta-blockers, benzodiazepines, tetracyclic antidepressants (TeCAs) and monoamine oxidase inhibitors (MAOIs) among others. SNRIs emerged as the potential segment in 2014 and acquired more than 32% of the overall market share. However, it is estimated that this segment may exhibit the decline in growth in the near future.

North America emerged as the major regional market for the global depression in 2014. This dominance was mainly because of the presence of large population infected with numerous kinds of depression and anxiety disorders. Currently, U.S. is saturated as a variety of antidepressant drugs are available on prescription for the similar symptom. Around 9% of the U.S. population suffers from depression. Globally less than 50% of depressed patients take treatment for depression. Every year an estimated around 1.5 million people or 1 in 20 Canadians, report several forms of anxiety disorder or depression. In fact, about 1 in 10 women are expected to suffer postpartum depression in the month subsequent childbirth. In Asia Pacific, strong economic growth in economies such as China, Japan, and Australia would contribute to the growth of the depression drug market.

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Different industry participants in this market will benefit from the development of herbal remedies along with the improvements in the distribution network in promising economies. The key players operating in this market are Forest Laboratories, AstraZeneca, GlaxoSmithKline, Abbott Laboratories, H. Lundbeck, Merck & Co., and Eli Lilly and Company.