Antidepressants are psychiatric drugs which are available on prescription and are licensed to treat depression. Antidepressants work by boosting or prolonging the activity of particular brain chemicals, such as noradrenaline and serotonin, which are thought to regulate mood.
Major factor expected to drive growth of the global antidepressant drugs market is increasing disorders such as generalized anxiety disorder, obsessive compulsive disorders (OCD), manic-depressive disorders, agitation, and childhood enuresis among general population. In addition, use of antidepressant drugs for treatment of diabetic peripheral neuropathic pain and neuropathic pain as well as fibromyalgia, chronic urticarial and others is expected to support growth of the antidepressant drugs market. Moreover, rising incidences of social anxiety disorder and posttraumatic stress disorder (PTSD) among adults in developed counties is expected to fuel growth of the antidepressant drugs market.
In February 2017, World Health Organization reported that more than 300 Mn people suffer from depression across the globe. It also stated that depression has become a common illness which is prevailing among the general population worldwide.
However, shifting preference towards non-pharmacological therapies is expected to restrain growth of the global antidepressant drugs market.
The global antidepressant drugs market is segmented on the basis of disorder, product, and region. On the basis of region, the global antidepressant drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The antidepressant drugs market in North America is estimated to dominate in the global market with higher market share when compared to other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing use of antidepressant drugs for treatment of posttraumatic stress disorder. Europe market accounts for second-largest revenue share in the global antidepressant drugs market. Asia Pacific market is projected to witness fastest growth in terms of revenue, owing to increasing patient suffering from social anxiety disorder in emerging economies in this region.
Key players operating in the global antidepressant drugs market include Alkermes Plc, Allergan Plc, Bristol Myers Squibb Co., Eli Lilly and Co., GlaxoSmithKline Plc, H. Lundbeck A/S, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Takeda Pharmaceutical Co. Ltd.