The APAC depression drugs market is projected to grow at a CAGR of 5.07% from 2024 to 2029. As a result, the market size is estimated to be worth USD 4729.43 million by 2029 from USD 3693.30 million in 2024.
Y-O-Y rise in anxiety disorders in Asia-Pacific countries such as India and China is growing significantly, primarily propelling the depression drugs market forward in this region. For example, in India, depressive and anxiety disorders increased in 2023 compared to previous years. The major depressive disorder symptoms are depressed mood, less interest, and low energy. Depending on the severity of symptoms, these people will be prescribed depression drugs of a specific dosage. On the other hand, anxiety disorders may cause anxiety and fear, panic disorder, phobias, social anxiety disorder, obsessive-compulsive disorder (OCD), and post-traumatic stress disorder (PTSD). According to studies, there were 3,000 cases of anxiety disorders and 2,500 issues of major depressive disorder per lakh people in India. As a result, the depression drug market has grown due to these factors.
Depression and stress levels have grown considerably during lockdowns, and many people have been affected; factors such as those above contribute to the market's growth. According to recent studies, 70 percent of people suffer from anxiety in India. Depressant drugs are used to reduce this stress and depression.
Y-O-Y growth in the aging population is favoring the depression drugs market in APAC. Depression is the most common health problem in older people, affecting their families and the community. This depression may cause due to low energy, family situations, poor sleep, and the absence of people around them. This depression in these people also leads to premature suicides. As a result, 10 - 15 percent of people suffering from depression will commit suicide. According to the National Crimes Record Bureau, nearly 1.4 lakh Indians died by suicide in 2019. They use depressant drugs in older people to treat depression with low medicines.
The increasing adoption of depression drugs among various age groups is fuelling the growth of the Asia-Pacific depression drugs market. In India, one in twenty young people suffers from depression due to adverse situations, low academic reports, and family issues. These depression drugs also treat various psychiatric disorders, including obsessive-compulsive disorders, adjustment disorders, eating disorders, impulse control disorders, chronic pain, neuropathic pain, and hyperactivity disorder. These depressant drugs can be taken by a patient in the long term or short term. Increasing the use of long-term treatment increases the use of depressant drugs, which drives market growth. Increasing awareness of the usage of depression drugs among people with mental disorders, increasing research and development, and advancements in depression are the other factors driving the market forward.
However, side effects of depressant drugs include dry mouth, nausea, vivid dreams, insomnia, weight gain, or sexual side effects. In addition, expensive depression drugs, lack of approvals, and strict government regulation hamper the growth of the depression drugs market in Asia-Pacific.
This research report on the APAC depression drugs market has been segmented and sub-segmented into the following categories.
By Disease Type:
By Distribution Channel:
By Country:
The Asia Pacific region is predicted to account for a substantial global market share during the forecast period. Japan dominated the APAC market in 2024. In Japan, these depression drugs are used more by males than females. Japan has in the tenth position in the world in suicide cases. Mental health in Japan is one of the significant issues the Japanese face. The Japanese government has introduced various mental health policies and laws for mental health. It provides multiple awareness programs and improves the advancement of drugs to recover fast from depression.
On the other hand, the Chinese market is anticipated to showcase a healthy CAGR from 2024 to 2029. This is because prescribing of depressant drugs has increased substantially in the last few years in China. In China, the number of people suffering from mental disorders is 1.4 billion. Therefore, the government and public health professionals encourage increasing discussion and removing the barrier associated with depression for fast recovery from the depression.
KEY MARKET PLAYERS:
Johnson and Johnson, Sebela Pharmaceutical Inc., Takeda Pharmaceutical Company Ltd., GlaxoSmithKline, Novartis AG, Otsuka Pharmaceutical Co. Ltd., Alkermes Plc, Bristol Myers Squibb Co., H. Lundbeck, Allergan USA Inc., AstraZeneca, Pfizer Inc., and Eli Lilly and Company are a few of the prominent companies operating in the APAC depression drugs market profiled in this report.
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