Antidepressant Market Size (2024 - 2029)

Antidepressant Market Analysis

The Antidepressant Market size is estimated at USD 20.70 billion in 2024, and is expected to reach USD 28.90 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).

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 Industry Segmentation

As per the scope of the report, antidepressant drugs are the drugs to treat major depressive disorders and other conditions, including dysthymia, anxiety disorders, obsessive-compulsive disorder (OCD), eating disorders, chronic pain, neuropathic pain, etc. The Antidepressant Market is segmented by product (Selective Serotonin Reuptake Inhibitor (SSRI), Serotonin-norepinephrine Reuptake Inhibitor (SNRI), Tricyclic Antidepressant (TCA), Monoamine Oxidase Inhibitor (MAOI), and other products), depressive disorder (Major Depressive Disorder, Obsessive-compulsive Disorder (OCD), Generalized Anxiety Disorder (GAD), Panic Disorder (PD), and other depressive disorders), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value in ( USD million) for the above segments.