Sales Of Depression Drugs Are Slated To Accelerate At A CAGR Of 4% By 2031

Healthcare

As per a recently published report by Fact.MR, a market research and competitive intelligence provider, the global depression drugs market is anticipated to top US$ 20 Bn by 2031, progressing at a steady CAGR of 4% over the period (2021-2031).

Depression comprises multiple mental health challenges characterized by the absence of positivity, which leads to feelings such as misery, sadness, and anxiety. Such feelings are normal only if they exist for a short period of time and become a serious condition when the individual feels lost, angry, frustrated, and gloomy very frequently.

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Key Takeaways from Market Study

  • Global depression drugs market to top US$ 20 Bn by 2031.
  • Serotonin-norepinephrine reuptake inhibitors (SNRIs) expected to record above 2% CAGR over the next 10 years.
  • Major depressive disorder segment to record around 1% CAGR over the forecast period of 2021- 2031.
  • Market in North America holds share of more than 40%.

“Ongoing research & development, emergence of novel non-pharmacologic and pharmacologic therapies, and growth in the number of collaborations between research institutes and pharmaceutical companies are expected to boost growth of the depression drugs market over the coming years,” says a Fact.MR analyst.

Market Competition

Market players are concentrating on increasing the efficacy of depression medications while reducing their adverse effects. New companies are projected to enter the market and various product approvals are set to broaden the reach of the global market.

  • In February 2021, Ginger, a provider of on-demand mental healthcare, announced a collaboration with Capsule, a digital pharmacy. The goal of this collaboration was to provide Ginger members with mental health drugs, such as antidepressants, at their homes.

 

 

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