Serotonin-norepinephrine Reuptake Inhibitors: Overview
Serotonin-norepinephrine reuptake inhibitors (SNRIs) or dual - uptake inhibitors represent one of the newest but important classes of antidepressants, which are commonly prescribed for anxiety disorders and depression therapeutic treatment. SNRIs were first launched in the international markets in 1993, when the U.S. FDA approved first of its kind Venlafaxine (Effexor) as an antidepressant, which would help treat numerous individuals suffering from varying anxiety disorders and/or depression.
However, SNRIs belong to that group of antidepressants, which are used as a second line treatment regimen for depression in addition to another antidepressants class called Selective Serotonin Reuptake Inhibitors (SSRIs). SNRIs work by blocking the re-absorption of two neurotransmitters in the brain, namely Norepinephrine and serotonin, thus, increasing the level of these two neurotransmitters in the nerve cells. This property of SNRIs helps elevate the mood of an individual suffering from depression or any type of anxiety disorder. No severe side effects have been observed to be associated with SNRIs usage; however, a few common side effects, such as nausea, dry mouth, excessive sweating and dizziness are generally associated with this class of antidepressants.
Serotonin-norepinephrine Reuptake Inhibitors: Key Drivers
Some of the major driving factors for the growth of this market include rising prevalence of depression and anxiety disorders globally, improved efficacy and reduced side effects of SNRIs available in the global market and rapidly increasing geriatric population. According to the WHO estimates, in 2012, more than 350 million people were found to be affected by depression worldwide. Similarly, the Anxiety and Depression Association of America (ADAA) estimated that, in 2012, around 14.8 million people in the U.S. were suffering from depression only.
Aged individuals are more prone to several depression and anxiety disorders; hence, high geriatric population in most of the developed economies and increasing age of people in developing nations will also contribute towards the growth of this market in future. Improved efficacy along with the reduction in the side effects due to SNRIs will further contribute towards the growth of this market. Some of the major drugs from this class that are available in the global market include Desvenlafaxine (Pristiq), Duloxetine (Cymbalta), Levomilnacipran (Fetzima) and Venlafaxine (Effexor XR). However, the market for SNRIs may face challenges in future due to recent expirations of lot of SNRIs and a weak pipeline of drugs from this class of antidepressants, which will cause the introduction of a large number of generics in the global market.
Serotonin-norepinephrine Reuptake Inhibitors: Region-wise Insight
Geographically, North America holds the leading position in the SNRIs market followed by Europe. Key factor responsible for their dominance in this market is high prevalence of anxiety disorders and depression in these regions, especially in the U.S. According to the World Health Organization (WHO), in 2012, about 16 million adults aged 18 or above suffered from major depressive disorders in the U.S. Thus, large patient population suffering from depression and other disorders has helped the antidepressants market to grow significantly in the region. Moreover, the Centers for Disease Control and Prevention (CDC) suggested that frequent episodes of major depression were the leading cause of suicide and disability among the U.S. citizens aged between 15 years and 44 years.
However, emerging economies of Asia Pacific, Middle East, LATAM and Africa regions would present huge opportunities for the growth of this market in future. Key factors responsible for the growth of this market in these regions include economic growth, increased disposable income and enhanced affordability of branded formulations in these regions. Moreover, a growing geriatric population more prone to psychiatric disorders such as depression, clinical anxiety, bipolar disorder and other psychological conditions along with the presence of a large population base in the region would consequently raise the uptake of SNRIs.
Some of the major players operating in this market are Eli Lilly and Company, Forest Laboratories, 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.
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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.
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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?
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