Depression Drugs Market Size, Analysis, Trends, Insights, Forecast till 2031

The depression medications market, which was estimated to be worth over US$ 6.5 billion in 2017, is expected to see bearishness soon. A recent Fact.MR analysis estimated that revenues would drop at a CAGR of -2%. The study indicates that even if the incidence of depression prevalence has increased over the past ten years, there has been a decrease in the demand for depression medications due to people's choice for cognitive behavior therapy (CBT) and their understanding of its possible negative effects. According to the report, the US led the world in the overall amount of depression medications marketed in 2018.

The World Health Organization (WHO) estimates that over 300 million people worldwide suffer from depression, making it one of the most prevalent illnesses. The National Institute of Mental Health (NIMH) estimates that 10.3 million adults in the US had at least one major depressive episode that caused substantial impairment. Adults between the ages of 18 and 25 had the highest frequency of such depressive episodes (10.9%), followed by female adults (8.5%) and male adults (4.8%). As to the Fact.MR survey, while depression remains a significant health concern, patients and the medical community are advocating for a non-pharmaceutical approach to minimize adverse effects and dependence. In order to promote long-term management of depression and other mental health conditions, healthcare professionals and patients are putting a greater emphasis on mindfulness-based techniques and cognitive behavior therapy (CBT).

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Popularity of Tech-based Mental Health Apps Also Contributing to Low Sales

According to the study, as end users have more coping mechanisms available to them, the market for depression medications is likewise seeing a downturn. The enormous success of mental health applications like SuperBetter, Moodnotes, Headspace, Calm, and Pacifica has offered patients greater autonomy over their depression management. In light of the increasing amount of studies indicating benefits for both meditation and cognitive behavior therapy, the number of apps on the market has increased recently. According to the report, these developments will have an ongoing impact on the market for depression medications.

Depression Drugs Market to Remain Concentrated in Developed Nations

Due to a concentration of major market competitors and increased research and development of these treatments, North America and Europe account for the two largest global markets for depression drugs. The Asia Pacific region's market for depression drugs is predicted to expand negatively due to a lack of widespread understanding of antidepressant medications (ADMs), despite the fact that mental illnesses including schizophrenia and bipolar I disorder are becoming more common in China and India. Furthermore, alternative depression treatments have longer-lasting effects and are just as effective as ADM, which could impede the market's future growth for depression medications, particularly in Asia Pacific and the Middle East and Africa.

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Depression Drugs Market: Segment-wise Insights

• The global market for depression pharmaceuticals has been divided into several segments based on the type of drug used, including SSRIs, atypical antipsychotics, SNRIs, CNS stimulants, and others. Atypical antipsychotics are anticipated to account for the greatest market share of all of these.
• According to disease category, major depressive disorder is predicted to hold the largest market share for depression medications. Bipolar I disorder, schizophrenia, and SSRI-induced bipolar disorder are further sub-segments.
• Although depression medications are offered by hospital, internet, and retail pharmacies, the retail sector held the biggest market share in 2017 and is predicted to maintain this position through 2026.

Global Depression Drugs Market: Competitive Landscape

Some key players operating in the manufacturing of depression drugs are Otsuka Pharmaceutical Co., Ltd., Johnson & Johnson, Sebela Pharmaceutical Inc., GlaxoSmithKline plc, AstraZeneca plc, Eli Lilly and Company, Allergan USA, Inc., Takeda Pharmaceutical Company Ltd, Novartis AG, Pfizer, Inc., Alkermes Plc, H. Lundbeck, Bristol Myers Squibb Co., and Teva Pharmaceutical Industries Ltd.

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