Summary

The global antidepressant market was valued at approximately USD 14,538 million in 2020, and it is expected to witness a revenue of USD 17,233 million in 2026, with a CAGR of 2.68% over the forecast period.

The COVID-19 pandemic is expected to have a significant positive impact on the growth of the studied market. The pandemic is predicted to have a long and short term impact on the individual's mental illness, given the hurdles faced during the crisis, such as social isolation due to lockdown, job insecurity, and fear of being infected by coronavirus. According to the survey conducted by Kaiser Family Foundation, in August 2020, 64% of the household who had a healthcare worker reported having experienced at least one adverse effect, such as difficulty sleeping or eating, increase in alcohol consumption or substance use, and worsening chronic conditions, on their mental health and wellbeing during the COVID-19 pandemic. Additionally, the Coronavirus Aid, Relief and Economic Security Act (CARES) provided USD 425 million to the Substance Abuse and Mental Health Services Administration for the expansion of mental health services to isolated veterans through telehealth and other related services. Thus, given the increasing incidence of depression and anxiety among the global population over the pandemic, the antidepressant market is expected to have a significant impact during the COVID-19 crisis.

Moreover, the market is majorly driven by the rising cases of depression, increasing awareness about depression, and the emergence of novel biologics. According to the Centers for Disease Control and Prevention (CDC) WISQARS leading Cause of Death Reports 2018, suicide was the tenth-leading cause of all deaths in the United States, claiming the lives of over 48,000 people in 2018. Similarly, as per the National Survey on Drug Use and Health (NSDUH) 2019, the prevalence of serious suicidal thoughts was highest among young adults aged 18-25 years. Depression mainly occurs due to the factors, such as social isolation and stressful work environment, which contributed the most to increasing the number of people suffering from depression. The number of people falling prey to depression and related disorders is expected to continue to increase, as a result of improper eating habits, stressful work schedule, increasing isolation from family and loved ones due to technology, and the inability to adapt to the rapid pace, at which, the world is moving forward. Additionally, in countries, such as the United Kingdom and the United States, which are characterized by their fast-paced economies, the percentage of the affected population in every age group is quite high. According to the Anxiety and Depression Foundation facts and statistics, the generalized anxiety disorder affects 6.8 million adults or 3.1% of the United States population per year. Thus, the rising cases of depression across the world are expected to drive the overall growth of the market studied over the forecast period.

However, the availability of non-drug treatments and side effects associated with the anti-depressants are projected to hinder the market growth over the forecast period.

Key Market Trends

The Major Depressive Disorder Segment by Depressive Disorder is Projected to Account for the Significant Share Over the Forecast Period

The major depressive disorder’s possible causes comprise the 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. As per the data published by the National Institute of Mental Health, in 2017, an estimated 17.3 million adults in the United States had at least one major depressive episode. This number represented 7.1% of all US adults, and it is majorly prevalent in women as compared to men. According to the research article published in the Brazilian Journal of Psychiatry 2020, the lifetime prevalence of major depressive disorder was estimated to range from 2% in China, 6.7% in South Korea, and 20.5% in Chile, to 21% in France and the in European countries. The average lifetime prevalence was 11.32%, while the average 12-month prevalence was 5.2%. Thus, the high prevalence of major depressive disorder globally is expected to surge the demand for antidepressants over the forecast period.

Most commonly, selective serotonin reuptake inhibitors (SSRI) are used in the treatment of major depression, while there are some therapies available to normalize brain changes associated with depression. Thus, owing to the rising patient pool and recent product launches, the market is expected to witness high growth over the forecast period.

North America Has Been Dominant and is Projected to Have Significant Share in the Global Market

The increasing cases of depression are one of the major factors that are expected to drive the overall growth of the antidepressant market in North America, particularly in the United States over the forecast period. Moreover, there is a rise in the geriatric population in the United States, which is expected to create more opportunities for market players in the region. According to the Anxiety and Depression Association of America, Facts, and Statistics, anxiety disorder is one of the most common mental illnesses in the United States, affecting approximately 40 million American adults every year, which is 18.1% of the total population of the United States. Additionally, more than 16.1 million American adults suffer from major depressive disorder every year, and it is more prevalent in women than men. Thus, the increasing prevalence of disorders and increasing rate of consumption of antidepressants are expected to drive the market studied during the forecast period.

The prevalence of depression increased during the COVID-19 pandemic in the United States. According to the research article published in JAMA Network Open 2020, the prevalence of depression symptoms was more than 3-times higher during COVID-19 compared with before the COVID-19 pandemic in the United States. This was majorly attributed to the increased exposure to stress due to job loss and social isolation. Hence, given the aforementioned factors, COVID-19 is expected to boost the antidepressant market during the pandemic in the United States.

Additionally, the growing FDA approvals and increasing pipeline products by key players concentrated in the region drive the studied market. For instance, in March 2019, the US FDA approved Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of resistant depression in adults. Thus, in view of the aforementioned factors, the antidepressant market is expected to witness significant growth over the forecast period in North America.

Competitive Landscape

The market studied comprises a combination of multinational and domestic players. The entry barriers are comparatively less, and most of the drugs are available over the counter. The companies are actively involved in the global expansion of their product portfolio through partnerships, collaborations, and acquisitions. Some of the key players in the market are Allergan PLC, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline PLC, H. Lundbeck AS, Johnson & Johnson, and Pfizer Inc. Additionally, the research and development activities by the key players have resulted in increasing product approvals.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Cases of Depression Around the World
4.2.2 Increasing Awareness About Depression
4.2.3 Emergence of Novel Biologics
4.3 Market Restraints
4.3.1 Preference of Non-pharmacological Therapies over Pharmacological Therapies
4.3.2 Side Effects and Patent Expiry of Antidepressant Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Product
5.1.1 Selective Serotonin Reuptake Inhibitor (SSRI)
5.1.2 Serotonin-norepinephrine Reuptake Inhibitor (SNRI)
5.1.3 Tricyclic Antidepressant (TCA)
5.1.4 Monoamine Oxidase Inhibitor (MAOI)
5.1.5 Other Products
5.2 Depressive Disorder
5.2.1 Major Depressive Disorder
5.2.2 Obsessive-compulsive Disorder (OCD)
5.2.3 Generalized Anxiety Disorder (GAD)
5.2.4 Panic Disorder (PD)
5.2.5 Other Depressive Disorders
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AbbiVe Inc. (Allergan PLC)
6.1.2 AstraZeneca
6.1.3 Eli Lilly and Company
6.1.4 GlaxoSmithKline PLC
6.1.5 Johnson & Johnson
6.1.6 H. Lundbeck AS
6.1.7 Merck & Co. Inc.
6.1.8 Pfizer Inc.
6.1.9 Sanofi
6.1.10 Sun Pharmaceuticals Pvt. Ltd
6.1.11 Dr. Reddy's Laboratories

7 MARKET OPPORTUNITIES AND FUTURE TRENDS