Selective serotonin reuptake inhibitors are a class of drugs that are typically used as antidepressants in the treatment of major depressive disorder, anxiety disorders, and other psychological conditions.
Market Dynamics
Increasing number of patients suffering from depression and anxiety and panic disorder, coupled with introduction of advanced medication by major players are factors expected to drive the growth of global selective serotonin reuptake inhibitors market. Chancing lifestyle pattern and unhealthy eating habits is affecting health. Anxiety disorders are the most common mental illness in the U.S., affecting 40 million adults in the United States age 18 and older, or 18.1% of the population every year. Bipolar disorder or manic-depressive disorder and affects about 2.8 percent of the U.S. population in a given year. It occurs equally in men and women, while 83 percent of cases are considered severe. With the chaining medical landscape and rapid advancement in medical devices is expected to support the growth of target market. Drug manufacturer are investing high on R&D activities; their approach towards enhancing the business through introduction of new drugs in order to enhance the product offerings and increase the customer base are factors expected to segment the growth of selective serotonin reuptake inhibitors market.
In 2019, Lupin, a global drug manufacturing company launched generic antidepressant “Fluoxetine tablets” in the American market. Fluoxetine tablets USP in the strength of 60m. The product is the generic version of Alvogen Group Holdings 3 LLC's Fluoxetine tablets in the same strength. This product launch is expected to help the company to enhance the customer base.
In 2020, Janssen Pharmaceutical, a global drug manufacturer received approval from the U.S. Food and Drug Administration (FDA) for “SPRAVATO”. SPRAVATO is the first approved medicine that has been shown to reduce depressive symptoms within 24 hours providing a new option for significant symptom relief until a longer-term, comprehensive treatment plan can take effect. This product launch is expected to help the company to enhance the business.
In addition, strategic business expansion activities through acquisitions are expected to support the revenue growth of selective serotonin reuptake inhibitors market. In 2018, Allergan, a global drug manufacturer acquired NMDA receptor modulator discovered by Aptinyx. The oral, small-molecule drug AGN-241751 had previously been selected for further clinical development by Allergan under the joint NMDA research project. This acquisition is expected to help company enhance the business. Factors such as high cost associated to drug manufacturing and strict regulations by the government for drug approval are expected to hamper the growth of global selective serotonin reuptake inhibitors market. In addition, lack of developed infrastructure for R&D activities is expected to challenge the growth of target market. However, high investment for drug development by major players and increasing clinical trials with the focus to introduce new products are factors expected to create new opportunities for players operating in the selective serotonin reuptake inhibitors market over the forecast period. In addition, increasing healthcare spending by the government and growing partnership in order to enhance the business are factors expected to support the revenue transaction of the target market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the global selective serotonin reuptake inhibitors market due to high patient pool suffering from chronic diseases. In addition, rise drug development by manufacturers and introduction of novel products is expected to support the regional market growth. Increasing home care approach among patients is expected to increase demand for enhanced treatment which is expected to impact the target market growth.
Competitive Landscape
The global selective serotonin reuptake inhibitor market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Selective Serotonin Reuptake Inhibitor Market Segment Analysis, 2019
The global selective serotonin reuptake inhibitors market is segmented into application and region. The application segment is divided into depression, anxiety and panic disorder, and other. Among application, the depression segment is expected to account for major revenue share in the global selective serotonin reuptake inhibitors market. The players profiled in the report are AbbVie Inc., Apotex Inc., Aurobindo Pharma Ltd., Cipla Inc., Eli Lilly and Co., GlaxoSmithKline Plc, H. Lundbeck AS, Lupin Ltd., Pfizer Inc., and Takeda Pharmaceutical Co. Ltd.
Market Segmentation
Market By Application
Depression
Anxiety and panic disorder
Other
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
