Depression Drugs Market to Hit USD 18 Bn Mark by 2024, States Variant Market Research in Its Cutting-Edge Report Available at MarketPublishers.com02 Jun 2017 • by Natalie Aster
LONDON – Caused by a range of reasons, including amalgamation of genetics, biological, environment and psychological factors, depression is amid both common and serious mental disorders of population in the modern world.
As of 2016, this disorder affected around 350 million people worldwide. More than 800,000 people commit suicide because of depression every year, making this mental disorder the second leading cause of death among people under 30 years. Moreover, women are much more apt to depression than men.
There are many different effective depression drugs, which fix the chemical imbalance in the brain, however, many people suffering from depression, have no access to such drugs or do not even take any treatment given low awareness of the disease and due to social stigma.
Over 2017-2024, the world’s depression drugs market is predicted to hit the USD 18 billion mark, posting a CAGR of more than 2%. Stable market growth is attributed to such growth driving factors as rising geriatric population, increasing awareness of depression, significant governmental support, to name a few. Moreover, rising R&D activities together with emerging opportunities in a number of untapped markets are also amid the factors that can add to the market growth in the foreseeable future. Still, there are some factors that can challenge further growth in the marketplace, for instance, dearth of trained healthcare providers and resources along with social stigma.
Topical research report “Depression Drugs Market (By Type, By Application, By Geography) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024” provided by Variant Market Research includes detailed insights into the world’s market for depression drugs, covering the key segments (on the basis of product type, application, geography) and highlighting the market dynamics. The report offers relevant qualitative and quantitative data on the market performance, includes historical and updated statistics and provides projection through 2024. Furthermore, the study covers the ongoing and emerging trends, points out the major challenges and opportunities. The competitive environment in the market is examined here and leading companies are profiled. A granular future outlook for the global depression drugs market with forecasts through 2024 is also available.
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