Global Depression Drugs Market report published by Accurize Market Research forecast that the global market is expected to reach $18 billion by 2024; growing at a CAGR of 2.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Increasing geriatric population to drive global depression drugs market
The prime factors driving the global depression drugs market include growth in geriatric population, rising efficacy and declining side effects of drugs and changing lifestyles due to rural to urban migration. Though, lack of awareness among regarding depression and its expanding commonness may hamper the demand for depression drugs in coming years. Furthermore, augmenting prevalence of fretfulness and several other depression disorders would boost the opportunities of growth for the market.
The global depression drug market is split into the product type, application and geography. Product type segment is further divided into tricyclice antidepressants, serotonin-norepinephrine inhibitors, atypical antipsychotics, selective serotonin reuptake inhibitors, benzodiazepines, tetracyclic antidepressants, monoamine oxidase inhibitors and others. Furthermore, application is segmented into clinics and hospitals and research centers.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
"SNRIs accounted for the largest market share in the product type segment", says Accurize
SNRIs subjugated the market accounting for more than one-fourth of the total depression drugs market share in 2017.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America accounted for the largest market share of 37.2% in 2017. Europe was the second largest market with a total market share of 32.6%. Asia-Pacific is to attain the fastest CAGR of 3.2% during the forecast period in terms of growth.
Top players in the market
Major players operating in the market include major players in the market include H. Lundbeck, Merck & Co., SK Biopharmaceuticals, Novartis, AstraZeneca, Forest Laboratories, Naurex, GlaxoSmithKline, Eli Lilly and Co., Naurex, and others.