Global Selective Serotonin Reuptake Inhibitors (SSRIs) Market 2022-2028
Global Selective Serotonin Reuptake Inhibitors (SSRIs) Market: About this market
Selective Serotonin Reuptake Inhibitors (SSRIs) are used to treat severe or persistent depression by elevating the extracellular levels of serotonin. The selective serotonin reuptake inhibitors market analysis considers sales of the drugs for depression, anxiety and panic disorder, and other mental conditions. Our analysis also considers the sales of selective serotonin reuptake inhibitors in Asia, Europe, North America, and ROW. In 2018, the depression segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the rising incidence of depression, easy absorption of the drugs through the gastrointestinal tracts, and their selective activity toward 5-HT receptors will significantly help the depression segment in maintaining its leading market position. Also, our global selective serotonin reuptake inhibitors report has observed market growth factors such as the increased drug dependency associated with SSRIs, rising prevalence of mental illnesses, and favorable drug purchasing policies for patients. However, challenges such as side effects of antidepressants, advent of biologics, and stringent US FDA regulations and approval of psychotropic drugs may hamper the growth of the selective serotonin reuptake inhibitors industry over the forecast period.
Global Selective Serotonin Reuptake Inhibitors (SSRIs) Market: Overview
Rising prevalence of mental illnesses
The rising prevalence of mental illnesses, especially in the US, has been increasing the sales of neurological drugs such as SSRIs. These drugs have proven efficacy in treating depression. SSRIs are more effective compared with other available antidepressants. The growth potential of the market will attract new entrants. Therefore, the market is expected to record a CAGR of almost 4% during the forecast period.
Growing geriatric population
Mental disorders are common among older adults. The primary reason being most of the geriatric population have two or more chronic health conditions such as cardiovascular disease, hypertension, diabetes, and cancer, which are high-risk factors for mental disorders. The prevalence rate of mental conditions among the geriatric population is rising. Favorable health insurance policies are allowing people of this age group to avail treatment for mental disorders. This is creating market opportunities for vendors. Therefore, the growing geriatric population will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global selective serotonin reuptake inhibitors (SSRIs) market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global selective serotonin reuptake inhibitors market is fragmented. The robust vendor analysis is designed to help clients in improving their market position, and in line with this, this report provides a detailed analysis of several leading selective serotonin reuptake inhibitors producers, which include Allergan Plc, Eli Lilly and Co., GlaxoSmithKline Plc, H. Lundbeck AS, and Pfizer Inc.
Also, the selective serotonin reuptake inhibitors market analysis report includes information on upcoming trends and challenges that will influence the market growth. This is to help companies in strategizing and leveraging on all forthcoming growth opportunities.
Selective Serotonin Reuptake Inhibitors (SSRIs) are used to treat severe or persistent depression by elevating the extracellular levels of serotonin. The selective serotonin reuptake inhibitors market analysis considers sales of the drugs for depression, anxiety and panic disorder, and other mental conditions. Our analysis also considers the sales of selective serotonin reuptake inhibitors in Asia, Europe, North America, and ROW. In 2018, the depression segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the rising incidence of depression, easy absorption of the drugs through the gastrointestinal tracts, and their selective activity toward 5-HT receptors will significantly help the depression segment in maintaining its leading market position. Also, our global selective serotonin reuptake inhibitors report has observed market growth factors such as the increased drug dependency associated with SSRIs, rising prevalence of mental illnesses, and favorable drug purchasing policies for patients. However, challenges such as side effects of antidepressants, advent of biologics, and stringent US FDA regulations and approval of psychotropic drugs may hamper the growth of the selective serotonin reuptake inhibitors industry over the forecast period.
Global Selective Serotonin Reuptake Inhibitors (SSRIs) Market: Overview
Rising prevalence of mental illnesses
The rising prevalence of mental illnesses, especially in the US, has been increasing the sales of neurological drugs such as SSRIs. These drugs have proven efficacy in treating depression. SSRIs are more effective compared with other available antidepressants. The growth potential of the market will attract new entrants. Therefore, the market is expected to record a CAGR of almost 4% during the forecast period.
Growing geriatric population
Mental disorders are common among older adults. The primary reason being most of the geriatric population have two or more chronic health conditions such as cardiovascular disease, hypertension, diabetes, and cancer, which are high-risk factors for mental disorders. The prevalence rate of mental conditions among the geriatric population is rising. Favorable health insurance policies are allowing people of this age group to avail treatment for mental disorders. This is creating market opportunities for vendors. Therefore, the growing geriatric population will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global selective serotonin reuptake inhibitors (SSRIs) market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global selective serotonin reuptake inhibitors market is fragmented. The robust vendor analysis is designed to help clients in improving their market position, and in line with this, this report provides a detailed analysis of several leading selective serotonin reuptake inhibitors producers, which include Allergan Plc, Eli Lilly and Co., GlaxoSmithKline Plc, H. Lundbeck AS, and Pfizer Inc.
Also, the selective serotonin reuptake inhibitors market analysis report includes information on upcoming trends and challenges that will influence the market growth. This is to help companies in strategizing and leveraging on all forthcoming growth opportunities.
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