Global Depression Drugs Market is Driven by Growing Generic Drug Market and Government Initiatives t

The key factors driving the growth of the market include, various government initiations in increasing awareness on depression, elevating generic drug market, and rising geriatric population globally. Furthermore, increasing investments in research & developments and market expansion would provide growth opportunities for the players. Though, social stigma and non-availability of trained healthcare providers especially in rural and remote areas may hinder the growth of the market.
The global depression drugs market is bifurcated into two major segments which include, product type, and application. By product type, the market is sub-segmented into Selective Serotonin Reuptake Inhibitors (SSRIs), Atypical Antipsychotics, Tricyclic Antidepressants, Tetracyclic Antidepressants (TeCAs), Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs), Benzodiazepines, Monoamine Oxidase Inhibitors, and others. Among them, SNRIs dominated the market accounting for more than one fourth of the total depression drugs market share in 2016. Geographically, the market is categorized into North America, Europe, Asia-Pacific and Rest of the world.
North America held the largest share of the market with 37.2% in 2016; driven by the presence of large consumer base suffering from various kinds of depression and fretfulness disorders. Europe, which holds the second largest market with a total market share of 32.6%. In terms of growth, Asia-Pacific is to attain the fastest CAGR of 3.2% during the forecast period, owing to augmented demand from emerging countries such as China, Japan, and Australia. Increasing consumer awareness regarding benefits of depression drug would provide several growth opportunities for the market in the coming years.
The major key players in the depression drugs market include, Novartis, H. Lundbeck, Forest Laboratories, Merck & Co., AstraZeneca, SK Biopharmaceuticals, Naurex, GlaxoSmithKline, Eli Lilly and Co., and Pfizer, among others.
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