ALBANY, N.Y., May 11, 2021 /PRNewswire/ — Management of depression through pharmacotherapies in primary care has made big leaps, given the fact that depression is a major contributor to the worldwide disease morbidity. Over the years, depression has been precursor to numerous secondary conditions that need clinical care. On the back of bewildering impact the disorder has shown on the quality of life, drug makers have been actively engaging in research and development. Various classes of antidepressants most notably tricyclic antidepressants and monoamine oxidase inhibitors have been the focus for more than three decades now. Novel non-pharmacologic therapies have also been explored to reduce the severity of symptoms, lifetime risks in patients, and side effects of the medications.
The prevalence and incidence of major depressive disorders (MDD) will propel drug approvals, thereby expanding the revenue potential of the depression drugs market. On the back of growing support by governments and regulatory agencies, the market is expected to reach worth of ~US$ 24.3 Bn by 2030-end.
Key Findings of Depression Drugs Market Study
- Depression Being a Major Cause of Disability Spurs R&D: The vast global burden of depression is a key factor that has spurred research and development activities in antidepressants. Per the WHO finding, it is a major cause of disability—witnessed in the difficulty in role transition, very poor role functioning outcomes—in affected populations. Further, major depressive disorder (MDD) is likely to become the leading cause, if it is not managed adequately, concurs experts, per a recent report in the NCBI. The spiralling costs of prolonged hospitalization is another aspect that has raised the awareness about the high morbidity of this disorder.
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- Better Understanding on Neurobiology Helps Develop Efficacious Drugs: Over the decades, researchers have revealed the action of depression drugs on the neurobiology of serotonin, norepinephrine, and dopamine. Relentless focus on improving the efficacy of antidepressants in the etiology of MDD has expanded the array of drugs that have received regulatory approvals in major economies of the world. The role of depression drugs in combination treatment has expanded the horizon for players in the depression drugs market. For instance, anticonvulsant drugs have attracted the attention of clinicians in reducing the severity of multiple conditions due to depression. The academia and industry players have collaborated to develop effacious drugs that have markedly low side effects to the patient population.
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- Schizophrenia and Bipolar I Disorders Attract Attention: The evaluation of depression disorders has also brought to the fore the role of bipolar disorders, schizoaffective disorders, and schizophrenia. The underlying neurological causes of these have risen in significance for pharmaceutical companies in increasing the efficacy of their products for the meeting the unmet needs in depression drugs market. The management of these are crucial in boosting the treatment modality outcomes of MDD. Rapidly increasing incidence of schizophrenia and bipolar I disorder are propelling research by drug makers toward these.
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Depression Drugs Market: Key Driving Factors and Avenues
- Growing awareness about the impact of depression disorders on the quality of life propels demand for various treatment modalities that include antidepressants
- Favorable outlook of regulators has ramped up R&D investments in the depression drugs market
- Prescription of depression drugs has surged amid Covid-19 pandemic, adding growth impetus
- Due to the ongoing pandemic-led humanitarian crises, the rates of suicidal behaviour in the affected and the risk of substance use disorders have increased, boosting the market demand
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Depression Drugs Market: Key Players
- Takeda Pharmaceutical Company Limited
- GlaxoSmithKline
- Pfizer
- Eli Lilly and Company
- Allergan
- Johnson & Johnson
Explore Transparency Market Research’s award-winning coverage of the global Healthcare Industry:
Behavioral Health Market: https://www.transparencymarketresearch.com/behavioral-health-market.html
Controlled Substance Market: https://www.transparencymarketresearch.com/controlled-substances-market.html
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