The global paroxetine hydrochloride market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). Paroxetine hydrochloride is an antidepressant drug known as an SSRI (selective serotonin reuptake inhibitor) which is used for the treatment of depression and sometimes for obsessive-compulsive disorder (OCD), panic attacks, anxiety or post-traumatic stress disorder (PTSD). The major factor for the growth of the market is the increasing prevalence of anxiety and depression.
According to the Anxiety and Depression Association of America (ADAA), Anxiety disorders are the most common mental illness that affects 40 million adults of age 18 and older or 18.1% of the population every year while panic disorder affects 6 million adults or 2.7% of the population in the US. Further, as per the National Institute of Mental Health, almost 19.4 million adults had at least one major depressive episode which represented 7.8% of all US adults in 2019. Additionally, females have a high prevalence of major depressive episodes (9.6%) as compared to males (6.0%). Hence, the rising prevalence of these diseases is creating lucrative opportunities for the growth of the market during the forecast period.
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Some major players in the market include GlaxoSmithKline plc, Merck KGaA, and Sun Pharmaceutical Industries Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in September 2021, Novitium launched an AB-rated generic version of Apotex’s Paxil (paroxetine hydrochloride) oral suspension.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
· By Type
· By Application
• Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
• Competitive Landscape– GlaxoSmithKline plc, Merck KGaA, and Sun Pharmaceutical Industries Ltd., among others.
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Global Paroxetine Hydrochloride Market Report by Segment
By Type
• Purity:98-99%
• Above 99%)
By Application
• OCD Treatment
• Anxiety Treatment
• Others
Global Paroxetine Hydrochloride Market Report by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
· Latin America
· Middle East & Africa
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