Market Trends of Antidepressant Industry
Major Depressive Disorder Segment is Expected to Witness Considerable Growth Over the Forecast Period
Major depressive disorder or depression's possible causes comprise a combination of biological, psychological, and social sources of distress. The major risk factors include family history, significant life changes, certain medications, chronic health problems, and substance abuse. For treatment purposes, doctors generally prescribe antidepressants such as selective serotonin reuptake inhibitors (SSRIs).
The increasing number of cases of major depressive disorders across the globe is one of the significant factors propelling segment growth. For instance, as per the data published by WHO in September 2021, 5.7% of adults older than 60 years are suffering from depression, and approximately 280.0 million people globally have depression. Similarly, as per the January 2022 National Institute of Mental Health, an estimated 21.0 million adults in the US suffered from at least one major depressive episode. The number represented 8.4% of all US adults in 2020. Moreover, as per the January 2022 NCBI research article and as per Mordor Intelligence analysis, the prevalence of major depressive disorder (MDD) among the elderly is on the rise globally, and age and gender are few of the clinical and demographic variables that affect how often severe depression is among the elderly. Thus, the high burden of major depressive disorder globally is expected to surge the demand for antidepressants over the forecast period.
Moreover, the increasing recent developments related to the segment are also anticipated to drive the demand for antidepressants. For instance, in December 2021, Intra-Cellular Therapies, Inc., a biopharmaceutical company focused on developing and commercializing therapeutics for central nervous system (CNS) disorders, received approval from the FDA for CAPLYTA (lumateperone) for the treatment of bipolar depression in adults. CAPLYTA is the only FDA-approved treatment for depressive episodes associated with bipolar I or II disorder (bipolar depression) in adults, as monotherapy and adjunctive therapy with lithium or valproate. Such approvals for new products are anticipated to create new opportunities, thereby driving segment growth over the forecast period.
Therefore, the segment is expected to witness growth over the forecast period due to the abovementioned factors.
North America is Anticipated to Witness Significant Growth Over the Forecast Period
The increasing number of cases of depression is one of the major factors driving the overall growth of the antidepressant market in North America, particularly in the US, over the forecast period. Furthermore, the rise in the geriatric population and regional product launches are also expected to create more market opportunities. For instance, according to the 2021 Anxiety and Depression Association of America report, anxiety disorder is one of the most common mental illnesses in the US, affecting approximately 40 million American adults every year, which is 18.1% of the total population of the US. The same source also stated that more than 16.1 million American adults suffer from major depressive disorder yearly, which is more prevalent in women than men. Moreover, in May 2022, Pharmascience Canada, a division of Pharmascience Inc., launched its new generic drug, pms-LURASIDONE, in the Canadian market. Pms-LURASIDONE is a monotherapy for the management of the manifestations of schizophrenia in adults and adolescents (15-17 years of age). It is also helpful for acutely managing depressive episodes associated with bipolar disorder in adults and adolescents (13-17 years of age). Thus, the increasing prevalence of mental disorders and new product launches are expected to surge the demand for antidepressants, which in turn are further expected to drive the market in North America.
Key product launches, high concentration of market players or manufacturer's presence, acquisitions and partnerships among significant players, and increasing cases of mental disorders in the US are some factors driving the growth of the antidepressant market in the country. For instance, the data updated by the National Institute of Mental Health (NIMH) in January 2022 shows depression is one of the most common mental health disorders in the US, and an estimated 46.9% of adolescents with a major depressive episode and significant impairment received treatment in the previous year. Furthermore, the growing approvals and increasing pipeline products by crucial players concentrated in the country are also driving the studied market. For instance, in February 2022, AbbVie submitted a supplemental New Drug Application (sNDA) for cariprazine (VRAYLAR) to the FDA for the adjunctive treatment of major depressive disorder (MDD) in patients who are receiving ongoing antidepressant therapy. Such developments are expected to drive market growth in the country.
Thus, given the factors above, the antidepressant market is expected to witness significant growth over the forecast period in North America.
