The anxiety and depression are known to be the most common forms of psychiatric disorders from which a large population is affected across the globe. . Depression is the most common type of mental disorder encountered in the global population, while anxiety refers to the reaction of an individual during stressful situations. Anxiety disorders are more than normal worry or fear. For a person suffering from anxiety, the anxious phase of the individual does not get over and instead worsens over time. This anxious disorder can affect daily activities such as school work, relationships and job performance. The anxiety related disorders include generalized anxiety disorder, social anxiety disorder and panic disorder. Moreover, depression refers to a common but serious mood disorder. It is related to a state of emotion that affect thoughts, actions and the sleeping pattern of an individual. The severity of anxiety and depression ultimately results into disorders such as phobias, post- traumatic stress disorder, panic disorder and obsessive compulsive disorder.
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Mental illness encountered at high rates across the globe
The accelerating prevalence of anxiety and depression are responsible for massive consumptions of anti- depressants, promoting the growth of the global anxiety disorders and depression treatments market. According to the fact sheet of the World Health Organization (WHO) in 2017, over 300 million people of all ages globally are suffering from depression, wherein 800,000 people die due to suicide, of which, anxiety disorders and depression are a prime cause. Moreover, according to the Anxiety and Depression Association of America, anxiety disorders are reported to be the most common mental illness disease in the U.S., affecting nearly 18% of the population. The association also mentions that these disorders are highly treatable thereby propelling opportunities in the global anxiety disorders and depression treatment market
Asia Pacific expected to exhibit rising anxiety disorders and depression treatment market due to changing lifestyles
On the basis of geography, the global anxiety and depression treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America is the largest market of anxiety disorder and depression treatment owing to a huge populace suffering from anxiety, stress related disorders, depression and also due to the availability and saturation of the U.S. antidepressants market. According to the Mental Health America, in 2014, 1 in every 5 adults have a mental health condition and the condition is observed to be worsening at rapid rates in youth. Additionally, work and life related stress as well as changing lifestyles in the emerging economies such as India and China are also potential targets of the global anxiety disorders and depression treatments market.
Antidepressants sales contributing to almost half of the total drug sales across the globe
The antidepressant drugs holds almost a share of 50% in the global pharmaceutical market. Advanced techniques to treat mental illness such as brain stimulation by using medical implants as well as use of smartphone based applications like virtual reality exposure therapies, are helping to boost the global market. However, the side effects of the antidepressants, adoption of alternative therapies and devices to treat mental illness are obstructing the growth of the global anxiety disorder and depression treatment market.
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The key players operating the global anxiety disorders and depression treatments market are Pfizer Inc., GlaxoSmithKline Plc., H. Lundbeck A/S, Eli Lily and Company, Inc., Merck and Company, Inc., AstraZeneca Plc, Forest Laboratories, Sanofi Aventis and Johnson and Johnson. The companies are indulged in operations such as partnerships, merger and acquisition as well as research and development partnership in order to sustain in the competitive market.
This post was originally published on Trading Herald