Antidepressants Market Trends

Growth Drivers

• Increasing Prevalence Of Mental Disorders Around The World - Mental disorders are aspects that affect a person's thinking, feelings, mood, and behavior. They are sometimes short-term or long-term (chronic). Such condition affects the ability of relating with other people and conditions on each day basis. Therefore, thorough and effective treatments are needed to combat these disorders. Therefore, the growing number of people suffering from mental illnesses and disorders is expected to drive the demand for antidepressants that are effective at treating such disorders. As per the World Health Organization statistics, 970 million individuals worldwide, or 1 in every 8 individuals, had a mental disorder in 2019.
• Significant Rise in Stress Level – It has been observed that approximately 90% of Australians are stressed about one or more important aspects of their lives. An individual may suffer from depression if they are subjected to chronic, or long-term, stress. As a result, people are looking for safer and quicker medications to alleviate their stress level and treat depression.
• Increasing Approval for Novel Antidepressants – For instance, in mid-2022, Axsome Therapeutics, Inc.’s Auvelity (dextromethorphan and bupropion) tablet received the approval from FDA to treat the major depressive disorder in adults.
• Worldwide Increase in Geriatric Population - According to the World Health Organization data, the world's population of people aged 60 and up is expected to go up from 1 billion in 2020 to 1.4 billion by 2030. The global population of people aged 60 and up is expected to double to 2.1 billion by 2050. A significant burden of illness is associated with depression among the elderly. A number of antidepressants, such as SSRIs, have been shown to be effective in elderly patients suffering from major depression without psychosis.
• Worldwide Rise in R&D Investment - The class of antidepressants has been tested in over a thousand randomized trials and research studies. Few drugs have achieved such success as antidepressants. The Unesco Institute for Statistics reports that, with an average annual growth rate of 4.7% over the past ten years, global R&D expenditure has expanded dramatically. (2010-2020). Globally, from 1.61% in 2010 to 1.93% in 2020, the percentage of global GDP invested on research and development has climbed significantly.

Challenges

• Side Effects Associated with Antidepressants- There are many side effects associated with antidepressants, including drowsiness, blurred vision, headaches, sexual dysfunction, and a loss of emotional stability. Furthermore, SSRIs and SNRIs can cause nausea, anxiety, indigestion, as well as a rise in blood pressure. SNRI venlafaxine is not suitable for people who have serious heart conditions.
• High Expenditure for Developing Antidepressants
• Stringent Government Regulations On Drug Approval