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Depression Drugs Market to Gain Value of US$ 24.3 Bn by 2030, States TMR Study

WILMINGTON, DE / ACCESSWIRE / September 14, 2022 / United States, Transparency Market Research Inc. – According to the depression drugs market projections offered by Transparency Market Research (TMR), the global market for depression drugs is prognosticated to reach a value of US$ 24.3 Bn by 2030. Furthermore, the study highlights that the depression drugs market is expected to develop at a CAGR of 2.3% during the forecast period of 2020 to 2030.

Transparency Market Research inc., Wednesday, September 14, 2022, Press release picture

The report by TMR provides exhaustive analysis of key factors influencing the growth trajectory of the global depression drugs market. Hence, the report includes assessment of the growth drivers, recent developments, R&Ds, challenges, and emerging trends of the depression drugs market. This aside, the study sheds light on key statistics such as volume, share, revenue, sales, and demand analysis of depression drugs market. Hence, the report works as a complete guide to get dependable insights on the market for depression drugs.

The use of different types of depression drugs is being increasing in the recent years for the treatment of numerous mental health conditions including anxiety disorders, chronic pain conditions, and depressive disorders. Moreover, these medications find wide application in the management of some addiction issues. This broad use of the product suggests that the global depression drugs market is projected to expand at rapid pace during the forecast period.

Players in the global depression drugs market are using varied strategies such as R&Ds, product approvals, and collaborations in order to stay ahead of the competition. Moreover, leading market players are focusing on advancing the efficiency as well as reducing the adverse effects of their drugs. This factor is supporting the overall market growth.

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Depression Drugs Market: Key Findings

  • With a stressful lifestyle of people from developed and developing nations globally, the percentage of populace experiencing different types of mental health issues is being increasing in the recent years. This factor is resulting into a surge in the need for various antidepressants globally, which in turn, is creating business opportunities in the global depression drugs market, note analysts of a study by TMR.
  • The understanding pertaining to mental illnesses and available treatment options is being increasing globally in the recent years. This factor is leading to significant business opportunities in the global depression drugs market, state analysts at TMR. This aside, the adoption of different technological advancements in the healthcare industry such as remote counseling is creating notable sales avenues in the global depression drugs market.
  • Companies operating in the global depression drugs market are investing in R&Ds in order to develop highly effectual medications. Such initiatives are expected to play a vital role in the rapid expansion of the global depression drugs market, note analysts of a TMR study. Furthermore, growing focus of several market enterprises on the development of latest pharmacologic and non-pharmacologic interventions is anticipated to boost the growth avenues in the market in the near future.

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Depression Drugs Market: Growth Boosters

  • Surge in the number of patients with mild to severe depression issues globally is boosting the demand for depression drugs
  • Increase in R&Ds of players to develop effectual treatment solutions is propelling the market

Depression Drugs Market: Key Players

Some of the key players profiled in the report are:

  • Otsuka Pharmaceutical Co., Ltd.,
  • Johnson & Johnson
  • Novartis AG
  • Allergan
  • Takeda Pharmaceutical Company Limited
  • Eli Lilly and Company
  • GlaxoSmithKline
  • Abbott
  • Pfizer

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Depression Drugs Market Segmentation

Drug Class

  • Selective Serotonin Reuptake Inhibitors (SSRIs)
  • Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs)
  • Atypical Antidepressants
  • Tricyclic Antidepressants
  • Others (CNS Stimulants, Monoamine Oxidase Inhibitors, etc.)

Disease Type

  • Major Depressive Disorder
  • Schizophrenia and Bipolar I Disorder
  • Obsessive-Compulsive Disorders (OCD)
  • Anxiety Disorder
  • Others (ADHD, SSRI-induced Disorder, etc.)

Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Transparency Market Research Inc.
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SOURCE: Transparency Market Research inc.

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