The global selective serotonin reuptake inhibitors (SSRI) market is expected to grow at a significant CAGR during the forecast period (2021-2027). The prevalence of depression is on the rise throughout the globe. Depression and serotonin levels are linked as depression is indicated by a decrease in serotonin levels. As a result, pharmaceutical companies have developed SSRIs that block 5-hydroxytryptamine (5-HT) reuptake transporters to raise serotonin levels in the synaptic cleft. In addition, SSRIs are better absorbed in the gastrointestinal tract than other antidepressants. During the forecast period, the market is expected to increase significantly.
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One of the main factors fueling SSRI medicine sales is the increased prevalence of mental diseases. There is a growing demand for effective neurological medications as the number of mental diseases rises. Mental illness has risen to become one of the most commonly diagnosed conditions on the planet. As the frequency of mental illness rises, so does the number of individuals in need of efficient neurological treatment. Owing to the improved therapeutic efficacy of selective serotonin reuptake inhibitors, mentally ill patients are more inclined to choose SSRIs for antidepressant medications. As a result of the rising prevalence of mental diseases, the global SSRI market is likely to develop throughout the forecast period. SSRIs have a high therapeutic efficacy among the many neurological medications available on the market. The number of companies producing these medications is growing. Furthermore, with government help, health insurance companies have begun to pay treatment costs for mental disorders.
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Additionally, the market is expected to grow owing to the growing geriatric population. Mental illnesses are common among those who have concomitant ailments like heart disease or cancer. The above-mentioned health issues affect the bulk of the older population. When compared to the adult population, the geriatric population has the highest chance of having mental problems. The market is expected to develop due to rising awareness of depression among the older population and healthcare professionals, as well as the increasing availability of SSRI treatment regimens for such patients.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered
- Regions Covered- Globally
- Competitive Landscape: GlaxoSmithKline (GSK), Merck & Co., Aurobindo Pharma Ltd., Takeda Pharmaceutical Co. Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Selective Serotonin Reuptake Inhibitors Market by Segment
By Application
• Depression
• Anxiety and Panic Disorder
• Other
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