Moreover, as the global level, over the 300 million individuals are predicted to suffer from the depression, which is equivalent to 4.4% of the world’s total populace. Furthermore, the players in the market of antidepressant drugs is working more effectively while spreading the awareness related to the applications of the antidepressant drugs and providing effective treatments for the depression. According to the report analysis, ‘Global Antidepressant Drugs Market Forecast up to 2018 – 2024’ states that there are several foremost players which presently functioning more effectively for leading the fastest market growth and registering the high value of market share across the globe while developing the technologies of production and decreasing the prices of antidepressant drugs includes Novartis AG, Allergan Inc., Elli Lilly and Company, AstraZeneca plc, GSK, Otsuka Holdings Co., Ltd., and Johnson & Johnson. The other protuberant players involve Pfizer, Shionogi & Co. Ltd., Abbott Laboratories, Takeda Pharmaceutical Co., Ltd., and H. Lundbeck A/S.
Depression is a solemn mental illness distressing more than 350 million people across the globe. This is also acknowledged as the mainstream depression syndrome or unipolar depression. According to a report by the Psychiatric Association, approximately 14.8 million adults in the US are anguish from the depression. Significant increase in the aging populace and growing prevalence of the depression are the general factors fueling the global antidepressant drugs market growth. Compassionate initiatives from the government and several other organizations and effective increase in the clinical trials will deliver an opportunity for the market growth during the forecasted period.
The Government ingenuities have been momentously transforming the market situation. Many of the initiatives are taken to augment the consciousness and decrease the suicidal rate around the globe. Depression is cramped by the mental health Gap Action Programme (mhGAP) of the World Health Organization (WHO) to support the countries to augment their conveniences for those misery from mental disorders, through distinctive support by healthcare workers. A superior transitory is conventional by WHO for the handling of depression. The corporations are motivating to improve an innovative drugs to statement the unmet requirements in the market. For instance, in May 2018, Esketamine Nasal Spray of the Janssen Pharmaceutical Corporations of Johnson & Johnson demonstrated speedy advancements in the depressive indications in patients with treatment-resistant depression in Phase III trials. Thus, this drug is anticipated to be the one of the bestsellers in the market.
The global antidepressant drugs market is predicted to observe a CAGR of 2.2% during the review period of 2018-2024. Based on the region, the global market of antidepressant is spread across the globe which majorly involves North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the antidepressant drugs market, followed by Europe, Asia Pacific, and Rest of the World. North America alone occupies more than 30% of the market, with a significant contribution from the US to the market growth. Therefore, in the coming years, it is predicted that the market of antidepressant drugs will augment around the globe more positively over the forecasted period.
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Ankur Gupta, Head Marketing & Communications