Antidepressant Market Size

Statistics for the 2023 & 2024 Antidepressant market size, created by Mordor Intelligence™ Industry Reports. Antidepressant size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Antidepressant Industry

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Antidepressant Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR 3.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Antidepressant Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Antidepressant Market Analysis

The antidepressant market is expected to register a CAGR of 3.5% over the forecast period.

The pandemic has long and short-term impacts 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 the coronavirus. Hence, many researchers researched to find an effective treatment for the disease. For instance, as per the January 2022 research article, several shreds of evidence showed the potential therapeutic role of fluvoxamine for COVID-19. Fluvoxamine is a selective serotonin reuptake inhibitor (SSRI) approved for treating obsessive-compulsive disorder. Moreover, a 2021 research study result demonstrated when participants were randomly assigned to fluvoxamine (Luvox, Abbott) at a dose of 100 mg twice for ten days or a corresponding placebo starting directly after randomization (day 1), treatment with fluvoxamine decreased the hospitalization need in high-risk outpatients with early diagnosed COVID-19. Thus, such trials during the pandemic surged the market growth and are expected to continue the upward trend over the forecast period due to increased awareness about mental health during the pandemic period.

The increasing number of cases of depression around the world, increasing awareness about depression, and the emergence of novel biologics are the significant factors driving the market growth. Depression mainly occurs due to the factors such as social isolation and stressful work environment, which contribute to increasing the number of people suffering from depression. It leads to increasing cases of suicide. The World Health Organization (WHO) data updated in September 2021 stated that depression is a prevalent mental illness, and according to estimates, around 5.0% of adults worldwide experience depression. Moreover, as per the same source, currently, the most significant cause of disability in the world is depression, which significantly contributes to the overall burden of the disease globally. Thus, such a high disease risk is creating demand for antidepressant use among the target population, thereby contributing to market growth.

Furthermore, in countries such as the UK and the US, characterized by their fast-paced economies, the percentage of the population affected by depression is high in every age group. For instance, according to the January 2022 data published by the Anxiety and Depression Foundation, generalized anxiety disorder affects 6.8 million adults annually or 3.1% of the US population. Thus, such a high prevalence is expected to drive the overall market growth over the forecast period.

However, the preference for non-pharmacological therapies over pharmacological ones and antidepressant drugs' side effects and patent expiry is likely to hinder the market growth over the forecast period.

Antidepressant Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)