Antidepressants Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Selective Serotonin Reuptake Inhibitors, Serotonin & Norepinephrine Reuptake Inhibitors, Atypical Antidepressants, Tricyclic Antidepressants), By Disorder (Major Depressive Disorder, Obsessive-Compulsive Disorder, Generalized Anxiety Disorder), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy), and Regional Forecast, 2020-2027

The global antidepressants market size was valued at USD 11.67 billion in 2019 and is projected to grow from USD 14.93 billion in 2020 to USD 18.29 billion in 2027, exhibiting a CAGR of 2.9% during the forecast period (2020-2027). Based on our analysis, the global market will exhibit a stellar growth of 28.0% in 2020. The global impact of COVID-19 has been unprecedented and staggering, with depression medications witnessing a positive demand shock across all regions amid the pandemic. The sudden decline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

According to the World Health Organization (WHO), an estimated 264 million patients were suffering from depression worldwide, and only 35% of these patients undergo treatment each year. This lower treatment rates are primarily attributed to the lack of awareness about the treatment and management of mental health disorders, and the prevalence of social stigma especially in emerging countries. This is limiting the demand for depression-managing medications, which have resulted in slower growth of the market.

However, regional and national healthcare agencies, for-profit organizations and governments are working towards creating awareness among general population towards various mental conditions, and the available treatment options. These agencies and bodies are promoting mental health awareness through various campaigns, which is leading to higher diagnosis and treatment rates in developed and emerging countries.

This combined with strong focus on R&D, and presence of potential pipeline candidates for treatment of physiological and mental disorders including depression, is projected to drive the demand for these drugs during the forecast period.

Outbreak of COVID-19 Favored Growth in Sales of Products

The outbreak of COVID-19 has positively impacted antidepressants market growth owing to a rise in product sales associated with the COVID-19 emergency. Moreover, key strategies adopted by biotechnology and pharmaceutical companies such as sustaining a balance amongst demand and supply of their products have benefited the market growth.

The pandemic has led to rise in stress levels among general population owing to various factors such as financial as well as emotional burden, stress, anxiety, fear, which has led to rising prevalence of depression. This combined with growth in Telehealth, and rising awareness among general population towards available treatment, has led to higher percentage of patients undergoing treatment.

This headed to an upsurge in the demand for and the adoption of depression medications anticipated for related indications. According to statistics provided by Express Scripts Canada (ESC), there was an increase of around 11% in claims for antidepressants during January 2020 to June 2020 in Canada.

LATEST TRENDS

Strong R&D by Key Players to Expand Market Potential

Major depressive disorder (MDD) continues to remain one of the leading causes of disability globally. Conventional medications and therapies to treat depression have recurrently shown a low success rate and are less effective for the majority of the people. This has created an unmet need among patients and healthcare providers for innovative drugs in treatment of mental conditions.

Scientists, researchers, and drug developers in collaboration with leading pharmaceutical companies are focusing on discovering new treatment pathways that are expected to surge the efficacy of treatments for major depressive disorder. Research and development activities are likely to impact the total growth of this market.

Leading and domestic players are majorly focusing on collaborations, and strategic agreements, to expand geographical presence and gain market share. For instance, in May 2020, Allergan announced the acquisition of an investigational NMDA drug from Aptinyx including its other portfolio for USD 560 million.

DRIVING FACTORS

Growing Prevalence of Mental Disorders to Boost Product Demand

According to the Anxiety and Depression Association of America, anxiety disorders are the most common mental disorders in the U.S., affecting 40 million adults or approximately 18.1% of the total population each year. According to World Health Organization (WHO), an estimated 7.5% people in India suffer from some form of mental disorders each year. Also, an estimated 56 million people in the country suffer from depression each year.

The rising prevalence of mental disorders including depression combined with rising emphasis on early and timely diagnosis globally, is presenting a large patient pool requiring treatment. This is fuelling the demand for new and innovative drugs in the global market.

Strong Drug Pipeline to Assist Market Growth Potential

There is a growing R&D emphasis by market players to introduce new and innovative treatments for disorders related to mental health. Novel discoveries and experiments evaluating combination treatments with existing and new therapeutic molecules have given the lucrative potential for the development of innovative candidates and drug molecules for treatment of mental disorders and neurology conditions including depression.

Similarly, strong support from international and government healthcare establishments for funding is expected to boost the global market growth. Various market players are collaborating with research universities and government agencies to explore new molecules and entities for therapeutics in mental conditions.

RESTRAINING FACTORS

Gaps in Required Treatments & Adverse Effects of Current Therapeutics to Limit Market Growth

Current treatments and marketed drugs for depression, and other mental disorders, have traditionally being studied for adverse effects, where normal cells of the body are also affected while treating neurology conditions. As a result, several side effects, including weight gain, dizziness, and blurred vision, are seen in numerous patients. This has limited the adoption of these drugs in the global market.  

Furthermore, there is a substantial gap in number of patients receiving treatment for neurology conditions, especially in emerging countries due to various factors including limited awareness, social stigma, and lower per capita healthcare expenditure in these countries.

For example, according to statistics from World Health Organization, an estimated 90% patients suffering from neurology conditions or mental disorders are devoid of treatment in emerging countries. This gap is comparatively narrower in developed countries, where an estimated 44% to 70% of the patients do not undergo treatment. 

SEGMENTATION

By Drug Class Analysis

Increased Sales Anxiety Therapeutics to Drive the Market Growth

On the basis of drug class, the market is segmented into selective serotonin reuptake inhibitors, serotonin and norepinephrine reuptake inhibitors, atypical antidepressants, tricyclic, atypical antipsychotics, monoamine oxidase inhibitors, and others. The selective serotonin reuptake inhibitors (SSRIs) segment accounted for the largest share of the market in 2019. Clinical superiority of SSRIs over traditional drugs in management and treatment of depression, combined with strong pipeline of leading players to evaluate new potential candidates in this drug class, is poised to augment the growth of the segment.

For Instance, in September 2020, Janssen Research and Development LLC announced the initiation of Phase 3 clinical study of Seltorexant for its safety and efficacy in treatment against major depressive disorder (MDD).

Conventional drug classes, including tricyclic antidepressants and monoamine oxidase inhibitors, have persistently prevailed in the anti-depression drugs market over the past few decades. Over time, the acceptance of serotonin reuptake inhibitors, antipsychotics, and several modern forms of drug class has augmented rapidly.

Furthermore, product approvals along with the increase in the number of a typical antidepressant pipeline candidates are predicted to boost the segment’s growth during the forecast duration, with this segment growing with the highest CAGR.

By Disorder Analysis

Rising Incidence of Major Depressive Disorder among Populations to Drive Demand

On the basis of disorder, the global market is classified into major depressive disorder, obsessive-compulsive disorder, generalized anxiety disorder, panic disorder, and others. According to the Substance Abuse and Mental Health Services Association, adolescents between 12 years to 17 years of age have registered the highest rates of major depressive disorder (MDD) followed by adults between 18 years to 25 years of age. Growing prevalence of MDD, along with rising awareness towards treatment and management of depression among younger population is driving the demand for antidepressants in the global market.

The obsessive-compulsive disorder (OCD) segment is anticipated to have a comparatively lower market share in 2019. According to Anxiety & Depression Association of America (ADAA), OCD affects an estimated 1.0% of the total population in the U.S. However, lower diagnosis and treatment rates among patients suffering from OCD, is responsible for lower share of the segment in the global market. 

By Distribution Channel Analysis

Growing Recommendation of Medicines at Hospitals to Assist Market Expansion

On the basis of the distribution channel, the market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies segment dominated the global market in 2019. However, growing patient preference towards retail pharmacies is accountable for the retail pharmacies segment growth.

The online pharmacy segment is anticipated to see lucrative CAGR over the projected timeframe due to the increasing penetration of online pharmacies in developing nations.  

REGIONAL INSIGHTS

The market size in North America stood at USD 6.00 billion in 2019. According to the Anxiety & Depression Association of America (ADAA), major depressive disorder (MDD) affects an estimated 6.7% of the total adult population (18 years and above) each year in the U.S. Similarly, Post-traumatic Stress Disorder (PTSD) affects an estimated 7.7 million adults each year in the U.S. High prevalence of depression among the general population, combined with higher rates of diagnosis and treatment for mental conditions in the U.S., and adequate reimbursement policies are fuelling the demand for innovative drugs in the country.

Rising investments by government and market players in R&D, and introduction of new drugs for anxiety and depression-related ailments, is anticipated to boost the regional market growth during in Europe during the forecast period. According to the World Health Organization (WHO), an estimated 40 million people in the European region suffer from depression each year. This growing prevalence and rising diagnosis rates in U.K., Germany and other countries, is boosting the demand for antidepressants in Europe.

Asia Pacific is expected to see the highest CAGR owing to the increasing sales antidepressant drugs by the adult population and the growing incidence of depressive syndromes among the younger population.

Besides, Latin America and the Middle East & Africa are expected to exhibit moderate growth due to lower diagnosis and treatment rates, and comparatively lower penetration of market players offering new drug candidates in these regions.

KEY INDUSTRY PLAYERS

Launch of New Products with High Effectiveness to Bolster Sales of Key Players

The market is fragmented due to the existence of numerous market players with diverse portfolio of domestic and global players. H. Lundbeck AS, Eli Lilly, Allergan Plc, and Bristol Myers Squibb Co., are some of the leading players in the market. A strong brand presence in the market, combined with widespread geographic presence, and a strong distribution channel, are major factors attributed to their dominance in the market. Furthermore, the advent of new players is expected in the coming years, and several product approvals are predicted to enlarge the scope of the global market.

Additionally, owing to the COVID-19 pandemic, companies have observed a sudden gush in the sales of products, which is expected to benefit market trends globally. For example, according to numerous news articles, to cope with mental health issues, people gradually turned towards prescription medications including depression therapeutics, which in turn amplified the sales of such drugs during the pandemic (2019-2020).

LIST OF KEY COMPANIES PROFILED:

• H. Lundbeck A/S (Denmark, Europe)


• GlaxoSmithKline plc (Brentford, U.K)


• Eli Lilly and Company (Indiana, U.S)


• Janssen Pharmaceuticals (Beerse, Belgium)


• Pfizer Inc. (New York, U.S)


• Merck & Co. Inc. (New Jersey, U.S)


• AstraZeneca (Cambridge, U.K)


• Bristol-Myers Squibb (New York, U.S)


• Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• June 2021 – Nippon Chemiphar Co. Ltd and Sumitomo Dainippon Pharma Co., Ltd announced a collaborative R&D agreement coupled with an agreement for novel antidepressant candidate NC-2800 that is under clinical trial.


• February 2021– Ginger, a company providing on-demand mental healthcare announced a partnership agreement with Capsule, a digital pharmacy. This partnership was aimed at providing Ginger members with mental health medications including anti-depressants at their homes.


• November 2020 – Biogen Inc and Sage Therapeutics announced a collaboration agreement to develop and commercialize zuranolone (SAGE-217) indicated for major depressive disorder, postpartum depression and other psychiatric disorders.

REPORT COVERAGE

The antidepressants market research report provides a detailed analysis of the market. It focuses on key features, such as, drug class types, leading companies and prominent disorders. Besides this, the report offers insights into the recent market trends and highlights key industry developments. Furthermore, as per the aforementioned factors, the report encompasses numerous factors that have backed to the growth of the developed market in recent years.

Report Scope & Segmentation