Global Market for Anxiety and Depression Treatment Products is Anticipated to grow at a Significant Pace

There is an increase in awareness about mental health issues and their treatment, an increasing number of product approvals and a huge population suffering from anxiety and depression are the key drivers for the growth of the anxiety and depression treatment market. Moreover, the rising awareness among the end-users and advancement in the healthcare segment, especially in the emerging economies will enhance the growth of the overall market in the forecast period.

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The continuous successful result of clinical trials for drugs and their commercialization will propel the future growth of antidepressant drugs. The COVID-19 pandemic has created many opportunities as there is a deterioration of mental health due to the coronavirus.

Due to Increasing Product Launches, Drugs Category Dominates the Market

On the basis of product, the drugs segment holds the largest market share in the anxiety and depression market and will retain its position during the forecast period. This is because of the increase in the number of mental disorder cases, the rising number of product launches, and awareness by health institutions about mental diseases. Moreover, SSRIs and beta-blockers will grow in the forecast period because of stress in the work environment and changes in consumer lifestyles.

Geographically, North America is anticipated to hold the largest market share in the anxiety and depression treatment market. This is due to the rise in cases of pain, the huge population suffering from anxiety and stress-related disorders, and awareness about mental health. Europe is considered to be the second-largest growing regional anxiety disorders and depression treatment market as a result of an increase in public awareness of anxiety disorders and treatments. The Asia Pacific is projected to have healthy growth in the coming few years because of the rising prevalence of psychiatric disorders.

Key players in the Global Anxiety and Depression Treatment Market are Eli Lily and Company, Forest Laboratories, Inc., Johnson and Johnson Private Limited, GlaxoSmithKline plc., H. Lundbeck A/S, Pfizer, Inc., Merck & Co. Inc., Inc., Sanofi S.A., Astra Zeneca plc., and Bristol Myers Squibb Company.

Source: VynZ Research