By 2027, the North American market size for depression drugs is expected to reach USD 5971 million from USD 5241 million in 2023, showcasing a CAGR of 2.64% from 2023 to 2028.
Y-O-Y growth in the elderly population is majorly propelling the depression drugs market in North America. Depression is one of the most common mental health problems in older adults resulting in Low mood, less interest, low energy, insufficient sleep, insufficient hunger and attention, and preoccupation with health issues. It also increases recovery time from different types of diseases. Depressant drugs are effective in treating depression in the face of medical illnesses. About 6 million Americans 65 and older suffer from late-life depression. Different people experience various symptoms. This depression in older people is primarily due to the death of a spouse or siblings, retirement, insomnia, and suffering from chronic diseases.
Increasing depression levels in children are contributing significantly to the depression drug market in North America. The American Psychological Association (APA) reports that 3.4% of kids aged 12-19 are suffering from this depression. FDA has approved antidepressants for children with a small dosage. The increasing prevalence of mental disorders and anxiety is further anticipated to boost the market growth during the forecast period. These drugs are also used to treat mental health. For example, some of this depression drug helps to stop smoking and alcohol consumption. Anxiety disorders are also severe mental disorders and a leading cause of disability. According to the National Comorbidity Survey Replication, most people in the U.S. suffer from this health disorder.
Several new antidepressant drugs have been developed in recent years due to the increasing number of people suffering from depression, mental disorders, etc. Clinical trials show positive results in using these depressant drugs for people suffering from depression.
On the other hand, the lack of drugs in the North American countries and the presence of alternative treatments are the primary restraints growth of the depression drugs market in North America. In addition, prolonged use of depression drugs has side effects depressant drugs, including nausea, dry mouth, insomnia, diarrhea, ex¬cessive sweating, drowsiness, agitation, and, less commonly, sexual dysfunction. Discontinuing these drugs also has side effects such as blurred vision, bad dreams, insomnia, fatigue, dizziness, and loss of coordination.
This research report on the North American depression drugs market has been segmented and sub-segmented into the following categories.
By Disease Type:
By Distribution Channel:
By Country:
North America held the largest share of the global depression drugs market in 2021. One in six Americans takes the depressant drug for various reasons. Depressed patients are more prone to coronary artery disease and diabetes, which worsen other medical conditions. Major depressive disorder (MDD) is a chronic disorder in the United States. In the U.S., during the Covid-19 period, most temples suffer from anxiety and mental illness problems. Americans are using medications for relief, and recent advancements in medicine to treat anxiety, deer, session, and sleep disorders boost the market. The U.S. Food and Drug Administration (FDA) approves the launch of new advanced drugs and gives people the dosage of medications. They said there should be a warning label on depression drugs sold in the United States. MDD is more in adults aged between 18-64 years. Axsome Therapeutics Inc (AXSM.O) received U.S. approval for its treatment for depression, which was available to more than 20 million Americans in 2020. According to the World Health Organization (WHO), MDD is the world's second-largest cause of disability. For treating major depressive disorder (MDD) in Canada, many brands have approved different types of drugs for other patients. In Canada, more women are from depression due to family issues and covid-19 mental health which increases the market growth in this region. Suicide rates are rising among older adults due to depression, with an average of 1.3 suicides committed daily by Canadian seniors. All these factors drive the market forward during the forecast period.
KEY MARKET PLAYERS:
Companies playing a promising role in the North American depression drugs market profiled in this report are 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.
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