Global Selective Serotonin Reuptake Inhibitors (SSRIs) Market 2019-2023 | 30% CAGR Projection over the Next Five Years | Tech...
12 Juli 2019 - 3:00AM
Business Wire
The global selective serotonin reuptake inhibitors market is
expected to post a CAGR of close to 4% during the period 2019-2023,
according to the latest market research report by
Technavio.
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Technavio has released a new market
research report on the global selective serotonin reuptake
inhibitors (SSRIs) market from 2019-2023. (Graphic: Business
Wire)
A key factor driving the growth of the global selective
serotonin reuptake inhibitors market size is the rising prevalence
of mental illnesses. Mental illness has become one of the most
commonly diagnosed disorders across the world. The growing
prevalence of mental illness is leading to an increased patient
pool that needs effective neurological drugs for treatment. In this
context, patients with mental illnesses are more likely to opt for
SSRIs over antidepressant drugs owing to the increased therapeutic
efficacy of SSRIs. Thus, the rising prevalence of mental illnesses
is expected to fuel the SSRIs market growth during the forecast
period.
As per Technavio, the growing geriatric population will have a
positive impact on the market and contribute to its growth
significantly over the forecast period. This global selective
serotonin reuptake inhibitors market 2019-2023 research report
also analyzes other important trends and market drivers that will
affect market growth over 2019-2023.
Global Selective Serotonin Reuptake
Inhibitors Market: Growing Geriatric Population
The geriatric population is growing rapidly across the world.
This population is more likely to develop mental disorders when
compared to the adult population. Moreover, the increased awareness
about self-health in patients and the availability of efficacious
antidepressants such as SSRIs are likely to increase the adoption
of SSRIs by the geriatric population. This is expected to
positively influence the growth of the SSRIs market size during the
forecast period.
“Apart from the growing geriatric population, other factors such
as the lack of R&D in neuropsychopharmacology, will propel the
use of SSRIs for the treatment of neurological disorders. This in
addition to rising government initiatives will have a significant
impact on the selective serotonin reuptake inhibitors market growth
during the forecast period,” says a senior analyst at
Technavio.
Global Selective Serotonin Reuptake
Inhibitors Market: Segmentation Analysis
This market research report segments the global selective
serotonin reuptake inhibitors market by application (depression,
anxiety and panic disorder, and other mental conditions), and
geographic regions (North America, Europe, Asia, and ROW).
The North American region led the selective serotonin reuptake
inhibitors market in 2018, followed by Europe, Asia, and ROW
respectively. The growth of the selective serotonin reuptake
inhibitors market in North America can be attributed to factors
such as the presence of large pharmaceutical companies that offer
both branded and generic SSRIs, and the presence of a proper
regulatory framework for the approval of new drugs in the
region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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