Global Anti-depressants Drugs and Therapies Market: Overview
Anti-depressants medications lower the symptoms of depression, dysthymia, chronic depression, and anxiety disorders. The drug aims to repair the chemical imbalance of neurotransmitters present in the brain which controls the changes in mood and behavior of a person.
Rising people suffering from depression due to factors such as stress, serious illness, and sleep disorders. Thus the need for novel drugs to reduce symptoms is increasing which is a key factor propelling the growth of the global anti-depressants drugs and therapies market.
The report is based on in-depth study of the global anti-depressants drugs and therapies market. This information is compiled together from the information from the sources such as trust-worthy data, press release, news updates, and white papers. The main and important part of the report is the vendor landscape which include the detailed information such as annual turnover, mergers and acquisitions (M&A) activities, company history, segmental share, SWOT analysis, recent research and development (R&D) activities and new product launches of key players operating in the anti-depressants drugs and therapies market.
Global Anti-depressants Drugs and Therapies Market: Drivers and Restraints
Depression is primarily the lack of positive emotion and lack of doing work with enthusiasm along with symptoms associated with cognitive, emotional, physical, and behavioral signs. The rising awareness about the mental state and clinical needs of patients is boosting the adoption of the anti-depressants drugs and therapies which is driving the growth of the market.
The substantial rise in the prevalence of depression, and a growing geriatric population which is more susceptible to mental diseases and disabilities. This factor is boosting demand for the development of novel drugs and therapies to reduce symptoms of depression which is likely to propel the growth of the global anti-depressants drugs and therapies market. Currently, it is second-leading diseases which are very common in the teenagers. Thus, numerous key players are increasingly focusing on the exploration of drugs by investing in research and development (R&D) for the development of drugs. This growing investment in the R&D for improvement and development of drugs with minimal side-effects is likely to influence positively on the growth of the global anti-depressants drugs and therapies market.
However, factors such as poor efficiency, safety norms, and presence and preference for non-pharmacological therapies mainly in the developing regions is restraining the growth of the global anti-depressants drugs and therapies market. Additionally, the patent expiration is another factor hampering growth of the market. Nonetheless, the presence of numerous favorable reimbursement policies mainly in the developed countries is offering lucrative opportunities for growth over the forecast period.
Global Anti-depressants Drugs and Therapies Market - Regional Outlook:
Geographically, the global anti-depressants drugs and therapies market are segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Of these, North America is dominating the global market for anti-depressants drugs and therapies and expected to remain dominant over the forecast period. This growth is attributable to the rising number of people suffering from depression. Report of the Central for Disease Control and Prevention, the number of patients in the US has risen from 7.7% to 12.7% in 2014. Europe has accounted for the second largest share in the global market owing to a higher awareness of health and illness. However, due to factors such as growing awareness about mental health and higher adoption of drugs to reduce symptoms are leading to drive the growth of the market in the Asia Pacific region.
Global Anti-depressants Drugs and Therapies Market: Competitive Landscape
Prominent players operating in the global anti-depressants drugs and therapies market are Pfizer, Teva Pharmaceuticals, Eli Lilly and Company, Sun Pharmaceuticals, and Abbott Laboratories.
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