Anxiety Disorders and Depression Treatment Market to Exhibit 1.25% CAGR Between 2014 - 2020
Anxiety Disorders and Depression Treatment Market
, 23 November 2017 -- The global anxiety disorders and depression treatment market was valued at USD 22.5 billion in 2013 and is expected to reach USD 18.2 billion in 2020, at a CAGR of (1.25%) from 2014 to 2020.
Transparency Market Research has published a new market study, titled “Anxiety Disorders and Depression Treatment Market - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.” The report says that the global anxiety disorders and depression treatment market will display a declining 1.25% CAGR from 2014 to 2020. The market’s valuation will drop from US$22.5 bn in 2013 to US$18.2 bn by 2020.
Depression is a medical condition that affects both physical and mental health. There are several types of depressive disorders that can vary from minor to severe and need specific treatment. Symptoms of depression can cause interference in all areas of an individual’s life, which include work and social relationships. Anxiety disorder is a serious mental disorder that interferes with the ability to lead a normal life. Anxiety disorder is characterized by worry and fear, which is constant and overwhelming, and can lead to serious disability.
The increasing prevalence of depression and anxiety disorders is the major factor driving the global anxiety disorders and depression treatment market, says the report. In addition, the rising geriatric population susceptible to trauma and the decreasing side effects of several drug classes are also driving the sales of depression and anxiety disorder treatment products. However, the market will witness a slowdown due to the patent expiration of major antidepressant drugs, the increasing number of generic drug variants, and a weak pipeline of novel drugs. Furthermore, drug-resistant mental disorders are expected to challenge the growth of this market.
The anxiety disorders and depression treatment market is divided on the basis of drug class and geography. By drug class, this market is segmented into selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), atypical antipsychotics, monoamine oxidase inhibitors (MAOIs), tetracyclic antidepressants (TeCAs), anticonvulsants, beta-blockers, benzodiazepines, and tricyclic antidepressants (TCAs).
In 2013, SNRIs led the market and held a share of more than 30%. However, this segment is expected to display a decelerated growth rate in the coming years.
On the basis of geography, this market is broadly divided into North America, Asia Pacific, Europe, and Rest of the World. Currently, North America is the largest market for anxiety disorders and depression treatment. This is mainly due to a large patient pool of individuals suffering from a range of anxiety disorders and depression. However, the market for anxiety disorders and depression treatment is currently saturated in the U.S. due to the availability of several antidepressant drugs on prescription for the same symptoms. As such, the growth of this market is dependent on the introduction of novel drugs for the same indication.
Asia Pacific, on the other hand, will display moderate growth due to the changing lifestyles in emerging economies such as China and India. The increasing mental health disorders in these countries due to work- or personal-life-related stress will drive the anxiety disorders and depression treatment market in this region.
The report mentions key players in the global anxiety disorders and depression treatment market, which are AstraZeneca, GlaxoSmithKline, H. Lundbeck, Johnson & Johnson, Eli Lilly and Company, Forest Laboratories, and Merck & Co.
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