Allied Market Research: Global Antidepressant Drugs Market to Reach $15.98 Billion by 2023, Growing at a CAGR of 2.1%

Recently, Allied Market Research released a report titled “Depression Drugs Market by Disorder (Major Depressive Disorder, Obsessive-Compulsive Disorder, Generalized Anxiety Disorder, Panic Disorder, etc.) and Product (Tricyclic Antidepressants, Selective Serotonin Reuptake Inhibitors, Serotonin-Norepinephrine Reuptake Inhibitors, Monoamine Oxidase Inhibitors, Serotonin Antagonists and Reuptake Inhibitors, and Others): Global Opportunity Analysis and Industry Forecast, 2017–2023.” The report indicates that the global antidepressant drug market is projected to reach $15.98 billion by 2023, with a compound annual growth rate (CAGR) of 2.1% during the forecast period. VCBeat (WeChat official account: vcbeat) has compiled the key highlights from this report for you.

This report provides an in-depth analysis of the global antidepressant market by examining industry trends, drivers and opportunities, key growth strategies, and the competitive landscape. According to the report, the global antidepressant market was valued at USD 14.11 billion in 2017 and is projected to reach USD 15.98 billion by 2023, representing a compound annual growth rate (CAGR) of 2.1% during the forecast period.

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The growing burden of depression, the increasing elderly population, and the emergence of innovative technologies for developing drugs with fewer side effects are driving market growth. However, poor drug efficacy and safety, a preference for non-pharmacological treatments, and extended patent terms for antidepressants are hindering market expansion. Conversely, heightened awareness of disease states and the rising number of patients with anxiety are expected to create profitable opportunities for future market participants.

Driven by changes in lifestyle and the growing demand for improved quality of life, the obsessive-compulsive disorder (OCD) medication market is projected to achieve a compound annual growth rate (CAGR) of up to 2.9% during the forecast period. However, the major depressive disorder (MDD) medication segment accounted for the largest share of the antidepressant market in 2017, representing approximately 40% of total revenue, as most patients were diagnosed with this condition due to high stress levels. The report also analyzes other segments, including generalized anxiety disorder and panic disorder.

Selective serotonin reuptake inhibitors (SSRIs) are projected to exhibit a compound annual growth rate (CAGR) of up to 2.7% during the forecast period, owing to their high efficacy in treating depression and anxiety and their minimal side effects. The report also analyzes other antidepressant products, including tricyclic antidepressants (TCAs), serotonin-norepinephrine reuptake inhibitors (SNRIs), monoamine oxidase inhibitors (MAOIs), and serotonin antagonists.

North America holds the largest market share, accounting for more than half of total revenue, driven by the rising incidence of conditions such as stress, suicidal ideation, severe psychological disorders, and anxiety among the adult population in the region. However, the Asia-Pacific region is projected to grow at the fastest compound annual growth rate (CAGR) of 4.0% during the forecast period, owing to an increase in new drug sales approvals and a large elderly population. Other regions analyzed in the report include Europe, Latin America, the Middle East, and Africa.