Global Depression Drug Market Report, published by Variant Market Research, forecast that the global market was valued at $15 billion in 2016 and expected to reach $18 billion by 2024; growing at a CAGR of 2.6% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe anticipated to grow at a fastest CAGR of 3.2% and 2.7%, respectively, over the forecast period 2016 – 2024.
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The global depression drug market is majorly driven by increasing geriatric population, growing awareness regarding depression, government organizations support. Though, lack of consciousness among people about depression and its increasing incidences may hamper the market growth. Additionally, untapped markets and different other depression disorders would unfold attractive business opportunities for the market in the coming years.
The global depression drug market is bifurcated into product type, application and geography. Product type includes monoamine oxidase inhibitors, tricyclice antidepressants, serotonin-norepinephrine inhibitors, atypical antipsychotics, selective serotonin reuptake inhibitors, benzodiazepines, tetracyclic antidepressants, and others. Additionally, application includes clinics and hospitals and research centers. Among all the segments, serotonin-norepinephrine inhibitor was predominant in the market holding more than one fourth of the total depression drugs market share in 2016.
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Based on geography, the market has been categorized into North America, Europe, Asia-Pacific and Rest of the world. In 2016, North America held the major market share of 37.2%, due to the presence of huge consumer base suffering from different types of depression and fretfulness disorders. Europe was the second largest market with a total market share of 32.6%. Asia-Pacific is predicted to grow at a fastest CAGR of 3.2% during the forecast period, driven by rising demand from emerging countries such as China, Japan, and Australia. Increasing awareness among consumers about benefits of depression drug is also expected to drive the growth of depression drugs market in the region.
The major key players operating In the global depression drug market are Forest Laboratories, H. Lundbeck, Merck & Co., SK Biopharmaceuticals, Novartis, AstraZeneca, Naurex, GlaxoSmithKline, Eli Lilly and Co., Naurex, and Abbott Laboratories, among others.
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Variant Market Research offers syndicated and customized reports to fulfill clients’ objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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