The global antidepressant drug market is estimated to grow significantly at a significant CAGR during the forecast period. Antidepressants are the most commonly prescribed drugs to alleviate the symptoms of anxiety disorders, mild chronic depression, and MDD. These drugs are used to correct chemical imbalances in the brain, which may be responsible for changes in behavior and mood. The drug classes that are defined as antidepressants include SSRIs, SNRIs, tricyclic antidepressants, and monoamine oxidase inhibitors. These antidepressants work by restricting the reuptake of particular neurotransmitters (chemical messengers), thereby augmenting their levels across the brain nerves, including SSRIs. 

The key factors that drive the growth of the market include increased depression and stress levels, rising geriatric population as older peoples are more prone to diseases including subsyndromal depression and other stress-related disorders. Other factors such as chronic medical conditions, crimes such as sexual abuse, femicide along other behavioral issues may further lead to depression which in turn, creates demand for antidepressant drugs. However, lack of availability, awareness in undeveloped economies, along with the patent expiration of the drugs are some of the restraining factors of the market growth during the forecast period. Nevertheless, the advent of novel and upgraded drugs with fewer side effects are likely to create scope for the future growth of the market. 

Segmental Growth

The global antidepressant drugs market is segmented on the basis of depressive disorder and drug class. Based on the depressive disorder, the market is segmented into major depressive disorder (MDD), obsessive-compulsive disorder (OCD), generalized anxiety disorder (GAD), panic disorder (PD), and other depressive disorders. Based on the drug class, the market is segmented as selective serotonin reuptake inhibitors (SSRIs), serotonin and norepinephrine reuptake inhibitors (SNRIs), atypical antidepressants, monoamine oxidase inhibitors (MAOIs), and other medications such as tricyclic antidepressants. 

Selective Serotonin Reuptake Inhibitors (SSRIs) Segment Hold Significant Share

Amongst the drug class of the global antidepressants market, the SSRIs segment is projected to hold a significant share in the market. The segmental growth is attributed to the wide acceptance of SSRIs amongst the consumers. These are the most commonly prescribed antidepressant drugs, as it possesses maximum benefits with fewer side effects as compared to other drugs. It aids in alleviating the symptoms of depression by enhancing the uptake of serotonin in the brain. Escitalopram (Lexapro), fluvoxamine (Luvox), fluvoxamine CR (Luvox CR), paroxetine (Paxil), fluoxetine (Prozac), citalopram (Celexa), paroxetine CR (Paxil CR), sertraline (Zoloft) are some of the common SSRIs products available in the market. 

Regional Outlook

The global antidepressant drugs market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to hold a considerable share in the market owing to the increasing prevalence of depressive disorders. According to the Institute for Health Metrics and Evaluation (IHME), the prevalence of the depressive disorder in the US in 2013 was 14.81 million, which increased up to 14.95 million in 2017. The rising prevalence of depressive disorders in the US is creating the demand for different types of medication and therapies for its treatment and thereby is expected to propel the growth of the antidepressant drugs market during the forecast period. Further, Asia-Pacific is also expected to register lucrative growth in the market attributed to the presence of a large pool of elderly population in the economies such as Japan. The geriatric population pool is at increased risk of developing depressive disorders, which in turn, creates the demand for antidepressant drugs.

Global Antidepressant Drugs Market by Region, 2018 (%)

Market Players Outlook

Some of the prominent players operating in the global antidepressant drugs market include Pfizer Inc., Eli Lilly & Co., Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services Inc., Merck & Co., Inc., Novartis International AG, Sanofi S.A., Bristol Myers Squibb Co., Intellipharmaceutics International Inc., and GlaxoSmithKline Plc. These companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global antidepressant drug market. 

For instance, in November 2018, Intellipharmaceutics International Inc. announced that it has received final approval from the US FDA for the Company's abbreviated new drug application ("ANDA") for venlafaxine hydrochloride extended-release capsules in the 37.5, 75, and 150 mg strengths. The approved product is a generic equivalent of the branded product Effexor XR sold in the US by Wyeth Pharmaceuticals, LLC. Effexor XR, and the drug active venlafaxine hydrochloride, are indicated for the treatment of MDD.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global antidepressant drugs market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.