Global depression drugs market growth dominated by GlaxoSmithKline plc, Eli Lilly & Co., Pfizer Inc., and Forest Laboratories Inc in 2013
Global Depression Drugs Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:05:03
The Global Depression Drugs market is forecast to grow at a CAGR of 2.49 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in the number of patients suffering from depression. The Global Depression Drugs market has also been witnessing the growing awareness of depression drugs. However, the generic erosion of key blockbuster drugs could pose a challenge to the growth of this market.
Key vendors dominating this space are GlaxoSmithKline plc, Eli Lilly & Co., Pfizer Inc., and Forest Laboratories Inc.
Other vendors mentioned in the report are Astra Zeneca plc, Bristol Myers Squibb Co., Mallinckrodt Pharmaceuticals Inc., Sanofi Aventis S.A., and Takeda Pharmaceutical Company Ltd.
The following companies represent the key players in Global Depression Drugs Market: GlaxoSmithKline plc, Eli Lilly & Co., Pfizer Inc., and Forest Laboratories Inc.
Increasing public awareness regarding depression and associated disorders is expected to increase the acceptability of various drugs, and thereby an increase in drug penetration. For instance, ADAP educates high school students, teachers, and parents about depression disorder. ADAP aims to increase awareness about mood disorders in young people while stressing the need for evaluation and treatment. Similarly, the Peer-to-Peer Depression Awareness Campaign project is the student education component of the educational collaboration between the Depression Center and Ann Arbor public schools. The project aims to educate high school students about depression and depressive illnesses, and support them in finding creative ways to deliver this knowledge to their peers in order to reduce stigma, raise awareness, and help to promote the early detection of depression, bipolar disorder, and related illnesses.
One of the main drivers in this market is the increase in the number of patients suffering from depression. The increasing aging population is contributing to the growth of the market. The number of patients suffering from depression is increasing owing to increasingly elevated stress levels, unhealthy lifestyle, and social imbalances both in developing and developed nations.
Further, one of the main challenges is the generic erosion of key blockbuster drugs. The introduction of low-priced generic drugs increases competition among vendors and reduces the cost of patented/branded drugs substantially.
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