Global Depression Drugs Market is Estimated to Reach $18 Billion by 2024
Global Depression Drugs Market the report published by Accurize Market Research forecast that the global market is expected to reach $18 billion by 2024; growing at a CAGR of 2.5% from 2017 to 2025. By geography, the Asia Pacific and North America is expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Increasing geriatric population to drive global depression drugs market
The prime factors driving the global depression drugs market include growth in the geriatric population, rising efficacy and declining side effects of drugs and changing lifestyles due to rural to urban migration. Though, lack of awareness among regarding depression and its expanding commonness may hamper the demand for depression drugs in the coming years. Furthermore, augmenting the prevalence of fretfulness and several other depression disorders would boost the opportunities of growth for the market.
The global depression drug market is split into product type, application, and geography. The product type segment is further divided into tricyclic antidepressants, serotonin-norepinephrine inhibitors, atypical antipsychotics, selective serotonin reuptake inhibitors, benzodiazepines, tetracyclic antidepressants, monoamine oxidase inhibitors, and others. Furthermore, the application is segmented i