Antidepressants Market Size, Share, Growth, By Emerging Trends, Business Strategies, and Competitive
The global antidepressants market is expected to witness significant growth during the forecast period. Factors such as high prevalence of mental illness and presence of specialty centres are prominent factors that drive the antidepressants market. In addition, launches of drugs annually and improvement in treatment are some of the major factors that drive the market growth. COVID-19 had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global antidepressants market in the forecast period 2022–2029. The expected CAGR of global antidepressants market is tend to be around 7.90% in the mentioned forecast period. The market was valued at USD 16.65 billion in 2021, and it would grow upto USD 30.59 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Antidepressants are a class of therapeutics that helps treat depression and other mental illness. The antidepressants such as imipramine exert their action by inhibiting serotonin and norepinephrine uptake. It also suppresses the detrusor contraction and enhancing outlet resistance by urethral sphincter contraction.
Drivers
- Rising Rates of Depression
Around 17.3 million people were suffering from major depressive episodes in the U.S. during 2017 as per the records of the National Institute of mental health (NIMH). The incidence rate is higher in adults aged 18 to 25 years. Hence, with high stress conditions due to several socioeconomic factors and significant spending ability within this range, the segment is expected to flourish at considerable rate during the forecast period.
- Technological Development
Increased technological development in the pharmaceutical industry to manufacture advanced tricyclic antidepressant drugs is expected to boost remunerative opportunities for expansion of the global antidepressant drugs market during the forecast period 2022–2029. Additionally, presence of key manufacturing companies to develop antidepressant drugs boost growth of the market.
Browse a Detailed Summary of the Research Report @ https://www.databridgemarketresearch.com/reports/global-antidepressants-market
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