The global market for anxiety disorder and depression drugs is expected to modestly decline in the next five years, falling to about $18.2 billion in 2020, down from last year’s total of $22.5 billion.
In a new report, consulting group Transparency Market Research (TMR) says that the global market for anxiety treatments and antidepressants will decline at a compound annual growth rate of 1.25% between 2014 and 2020.
Despite an expected rise in the number of people worldwide taking the drugs, particularly in geriatric populations, this market growth will be tempered economically by patent expiration of some major drugs, a growing number of generic drugs available to treat the conditions, a lackluster drug pipeline of new drug candidates, and a rise in drug-resistant mental disorders, according to TMR.
Some of the newest drugs in the space included vortioxetine (Brintellix) and brexipiprazole (Rexulti). Alkermes is developing ALKS-5461, a combination of buprenorphine and samidorphant as an adjunct for treatment-resistant depression.
In 2013, the selective serotonin reuptake inhibitors (SNRIs) had a 30% share of the market for anxiety and depression drugs. While North American still dominates this market, it has become saturated as many antidepressants are available to treat similar symptoms. As a result, many drugmakers are working on drugs that are more effective or treat new symptoms, TMR argues.
The group adds that the Asia Pacific region will experience modest growth in the market for anxiety and depression treatments due in large part to demand from large, emerging economies such as China and Japan.
In addition, the report notes that an increasing number of companies are working on herbal remedies to treat anxiety and depression as consumer demand more natural therapies.