Depression Drugs Market Key Industry Segments Poised for Strong Growth in Future
Presently, the depression drugs market has been struggling to showcase any significant growth. According to Fact.MR study, the concerned market was valued at over US$ 6.5 billion in 2017, and is anticipated to witness falling prices in the near future. This assessment is title “Depression Drugs Market Forecast, Trend Analysis & Competition Tracking – Global Review 2018 – 2026”, which estimates that revenues across the global depression drugs market are likely to decline at a -2% CAGR. Although frequency of depression has risen in the last decade, but demand for depression drugs has experienced a prominent decline, since different forms of therapies, particularly cognitive behavior therapy (CBT) has received major traction.
The research study delivers better insight about the overall market scenario active across the depression drugs sector. Readers can receive precise information associated to crucial market factors such as market outlook, market dynamics comprising drivers, restraints, key trends, opportunities and pipeline analysis. Furthermore, in-depth knowledge associated to market value share and market forecast covering prime geographies, drug class, distribution channel and disease type are diligently discoursed in this study.
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Demand for Depression Drugs to Receive Higher Traction from Developed Nations
Focusing at the geographical expanse of the depression drugs market, North America and Europe are marked as the largest regional markets for depression drugs at the global scenario. This leading status is acquired due to the concentration of leading market players as well as surge in R&D associated to these drugs.
On the other hand, the rising problem of mental illness such as schizophrenia and bipolar I disorder in China and India, absence of wide-ranging awareness concerning antidepressant medications (ADMs) is anticipated to adversely affect the growth of depression drugs market across the Asia Pacific region. Furthermore, different therapies of depression are as effectual as ADM, thereby, their effects are seen more lasting, which might cause an interference in forthcoming expansion of depression drugs market, specifically in Asia Pacific and Middle East & Africa.
Growing Fame of Tech-based Mental Health Apps Overrun the Need for Depression Drugs
As per this smart Fact.MR study, demand for depression drugs is experiencing a downhill situation since end-users hold more surviving options to promote. To be precise, the growing popularity of mental health apps like Headspace, Moodnotes, Calm, SuperBetter and Pacifica, has offered patients additional control on how they cope depression. In the recent years, propagation of tech apps has witnessed a major surge due to advancing actions of research that primarily uses meditation and cognitive behavior therapy as effective tools.
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As the report finally leads to closure, readers can attain information about the leading players functioning in the depression drugs market. Each of these corporations are examined and studied in terms of company description, strategic overview, financial overview, and SWOT analysis. Some of major players included in the report are Johnson and Johnson, Takeda Pharmaceutical Company Ltd., Sebela Pharmaceutical Inc., GlaxoSmithKline, AstraZeneca, Pfizer Inc., Novartis AG, Allergan USA Inc., Otsuka Pharmaceutical Co., Ltd., Eli Lilly and Company, Alkermes Plc, H. Lundbeck, Teva Pharmaceutical Industries Ltd. and Bristol Myers Squibb Co., among others.