Depression Drugs Market – Snapshot
Depression is an indication when one feels down in the dumps, miserable, unhappy, blue, or sad. It is natural for people to feel this way for a short duration of time, sometime in life. However, clinical depression is a condition when a person feels frustrated, angry, lost, or sad on a daily basis, for a long duration of time. In 2017, depression drugs were valued at approximately US$ 6,500 Mn and are anticipated to register a CAGR of over -2% from 2018 to 2026 to reach value of approximately over US$ 5000 Mn by 2026.
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Increasing prevalence of major depression disorder drives the expansion of the market from 2018 to 2026. According to the National Institute of Mental Health, approximately 10.3 million adults in the U.S. had at least one major depressive episode with severe impairment in 2016. The number represented 4.3% of all adults in the U.S. Higher prevalence of depression was observed among female adults, which accounted for approximately 8.5% as against 4.8% among male adults. The highest prevalence of major depression disorder was observed among the people of 18 to 25 years of age, which accounted for 10.9% of all adults in the U.S affected by at least one major depressive episode with severe impairment in 2016. According to the American Psychiatric Association, approximately 14.8 million adults in the U.S. are affected by depression.
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The global depression drugs market can be been classified on the basis of distribution channel, disease type, drug class, and region. Based on drug class, the market can be categorized into atypical antipsychotics, serotonin–norepinephrine reuptake inhibitor, selective serotonin reuptake inhibitor, central nervous system (CNS) stimulant, and others. Among these, the atypical antipsychotics segment leads the market and is expected to continue its dominance during the forecast period, followed by the Serotonin–Norepinephrine Reuptake Inhibitor segment. The significant market share of the atypical antipsychotics segment can be attributed to the launch of drugs in developed countries, such as the U.S. and Canada.
In terms of disease type, the depression drugs market can be been classified into major depressive disorder, schizophrenia and bipolar I disorder, selective serotonin reuptake inhibitor induced, and others. Major depression disorder accounted for highest market share in 2017 owing to high work stress all over the world.
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Based on distribution channel, the depression drugs market can be bifurcated into online pharmacies, hospital pharmacies, and retail pharmacies. Among these, the retail pharmacies segment held the maximum share of the market in 2017. The segment is projected to dominate the market during the forecast period, which can be attributed to the increasing prevalence of depression disorders across the world and rising preference of patients to buy drugs from retail pharmacies. However, hospital pharmacies and retail pharmacies are anticipated to witness a decline in their market share during the forecast period owing to expiry of exclusivity of depression drugs.