Suicide is an act wherein a person kills oneself intentionally. This tendency is associated with various mental and emotional issues such as depression, personality disorder, substance abuse, alcoholism, impulsiveness due to stress, financial distress, and troubled relationships, among others. In addition, changing lifestyle and increasing societal pressures aid in the high suicidal tendencies, primarily among young adults. Suicidal tendencies are indicated to be higher among women than in men. Demand for psychotherapy for the treatment of this condition is increasing which in turn is likely to contribute to the growth of the anti-suicide drugs market.
According to the WHO, close to 800,000 people commit suicide every year. It is considered to be the second leading cause of death among young adults in the age group of 15 years to 29 years. According to the American Foundation for Suicide Prevention, suicide is one of the leading causes of death in the U.S., with over 43,000 deaths each year. According to the American Foundation for Suicide Prevention, the suicide rate was over 12.93 per 1,000 people in 2014 in the U.S. Similarly, India, Russia, Sri Lanka, Kazakhstan, and Japan, among others have reported a high suicide rate. Changing opinion of the population related to mental health, growing awareness, increased focus on research and development leading to the launch of a range of drugs, and a strong pipeline of drugs contribute to the growth of the anti-suicide drugs market. For instance, NeuroRx completed the phase II trial for Cyclurad, a combination drug composed of anti-infective drug lurasidone and tuberculosis drug D-cycloserine, used in conjunction with ketamine for the treatment of suicidal tendencies associated with bipolar depression. However, increasing addiction to opioids, which are used for treating depression, lack of effective therapies, abusive usage of these drugs, and growing usage of unapproved therapies are likely to restrain the anti-suicide drugs market.
The anti-suicide drugs market can be segmented based on drug class, distribution channel, and region. In terms of drug class, the market can be segmented into anti-depressants, anti-psychotic drugs, anti-anxiety drugs, antibiotics, and N-methyl-D-aspartate (NMDA) receptor antagonists, and others. The NMDA agonists segment is anticipated to record faster growth after FDA approval and commercialization. Based on distribution channel, the anti-suicide drugs market can be segmented into hospital pharmacies and retail pharmacies. Hospital pharmacies are anticipated to record strong growth during the forecast period owing to increasing prescriptions of anti-suicide drugs.
Geographically, the anti-suicide drugs market can be segmented into five regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounted for a high market share in 2016, closely followed by Europe. North America and Europe are anticipated to gain traction owing to increased health care spending and launch of a range of anti-suicidal drugs. However, emerging markets such as Asia Pacific are anticipated to record a high CAGR during the forecast period owing to high suicide rates. In addition, changing opinions regarding the stigma associated with mental health and growing awareness contributing to the increasing number of people visiting psychologists and psychiatrists are likely to propel the anti-suicide drugs market. Increased health care spending by governments, rising number of associations working on spreading awareness about suicidal tendencies also contribute to the growth of the anti-suicide drugs market.
Key players in the anti-suicide drugs market include Allergan plc, AstraZeneca plc, Eli Lilly and Company, GlaxoSmithKline plc, H. Lundbeck A/S, Johnson & Johnson, Merck & Co., Inc., NeuroRx, Inc., and Pfizer, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.