Global Anti-depressant Drugs, Devices, And Therapies Market Forecast 2017-2025
The Global Anti-depressant drugs, devices, and therapies market is anticipated to grow at a CAGR of 2.12% over the forecast period of 2017- and 2025. The revenue generated by the market is expected to increase from $ 16442 million in 2016 and reach $19712 million by 2025. The antidepressant drugs, devices, and therapies market is primarily driven because of factors such as a shift in the market from branded to generic drugs, a growing consciousness of depression as a medical disorder and the surge in sales of antidepressants in the past few years.
The market is segmented into types of antidepressants drugs, types of devices and the types of therapies. The Antidepressants drugs are further segmented into Serotonin and norepinephrine reuptake inhibitors (SNRIs), atypical antidepressants, Norepinephrine and dopamine reuptake inhibitors (NDRIs), Tricyclic antidepressants (TCA), Monoamine oxidase inhibitors (MAOIs) etc. The Devices are further segmented into Fisher Wallace Stimulators, Deep Brain Stimulators, Transcranial Magnetic Stimulator, etc. Also, the Therapies segment is further sub-divided into Electroconvulsive Therapy (ECT), Cognitive Behavior Therapy (CBT), Rational-emotive behavior therapy (REBT), etc.
The high cost of depression therapies coupled with the lack of medical insurance coverage for them is a major factor restraining the market growth. However, with the rising awareness about depression being a medical condition, the market is expected to show a huge promise during the forecasted years.
Geographically, the global anti-depressant drugs, devices, and therapies market is segmented into:
• North America - U.S. & Canada
• Asia-Pacific – China, India, Japan, Australia, Rest of APAC
• Europe - UK, France, Germany, Spain, Rest of Europe
• Rest of World
The North American market is expected to hold the biggest share by 2025 on account of its developed healthcare system and increased expenditure on mental health treatment. Major players such as Eli Lilly, Forest Laboratories, and Pfizer are based in North America. However, this market is facing a possibility of dilution on account of the patent expiry of most of the prescribed drugs. On the contrary, the Asia-Pacific market is expected to be the fastest-growing region for the anti-depressant drugs, devices, and therapies market. The level of awareness regarding depression is steadily increasing in countries such as India, China, Japan, and Korea, thus making this region a prospective market in the coming years.
Pfizer Inc. is a research-based, global biopharmaceutical company that deals with vaccines, medicines, and consumer healthcare products. TEVA Pharmaceutical Industries is another prominent generic pharmaceutical company that is engaged in the development, production, and marketing of generic, proprietary branded pharmaceuticals and active pharmaceutical ingredients. Some of the other major players include Sun Pharmaceuticals, Eli Lily, Neuronetics, Allergan Plc, Abbot Laboratories, Brainsway, Cyberonics Inc, etc.