The global dysthymia drugs market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Dysthymia is often characterized by chronic depression for at least two years and includes lowered energy, appetite, sleep disturbances and low self-esteem. Anti-depressants are the drugs that inhibit the reuptake of neurotransmitters through selective receptors, thereby increasing the concentration of specific neurotransmitters around the nerves in the brain.
Increasing awareness about mental illness is expected to drive market growth.
According to the National Alliance on Mental Illness, millions of Americans face the reality of living with a mental health condition each year. However, mental illness affects everyone directly or indirectly through family, friends or coworkers. That is why each year, during the first week of October, NAMI and participants across the country raise awareness of the mental illness, fight discrimination and provide support through Mental Illness Awareness Week (MIAW). The prevalence of mental illness is as follows, 1 in 5 U.S. adults experience mental illness each year, 1 in 20 U.S. adults experience serious mental illness each year, 1 in 6 U.S. youth aged 6-17 experience a mental health disorder each year. Moreover, Mental illness affects LGB adults, Mixed/Multiracial adults, White adults, American Indian or Alaska Native Latinx adults, Native Hawaiian or Other Pacific Islander adults, Black adults and others.
Moreover, MIAW is centered on a new awareness campaign, "Together for Mental Health," focusing on the importance of advocating for better care for people with serious mental illness (SMI). Each day throughout the week, they will be raising the voices of people with lived experience to talk about SMI and the need for improved crisis response and mental health care. Thus, from the above statements, the market is expected to drive the market's growth in the forecast period.
Longer approval time and clinical trials of antidepressant drugs are expected to hamper the market growth.
The long process of drug approvals and strignent regulations are expected to hamper the growth of the market. In the context of a regulatory trial of antidepressants, effect sizes will remain modest (~0.3) regardless of class or novel drug mechanism, possibly due to regulatory changes to trial design and conduct following the Kefauver-Harris Act of 1962. Therefore, they have been cautious of stretching trial results beyond their limited capacity to inform clinical practice as trials are not representative of real-world patients or medication management practices. There is a substantial need to develop more realistic models to evaluate the clinical utility of antidepressants.
COVID-19 Impact Analysis
The COVID-19 pandemic and the resulting economic collapse have negatively affected many peoples mental health and created new barriers for people already who have mental illness and substance use disorders. During the pandemic, about 4 in 10 adults in the U.S. have reported anxiety or depressive disorder symptoms, a share that has been largely consistent, up from one in ten adults who reported these symptoms from January to June 2019. Moreover, according to the research article published in JAMA Network Open 2020, the prevalence of depression symptoms was more than 3-times higher during COVID-19 compared with before the COVID-19 pandemic in the United States. It was majorly attributed to the increased exposure to stress due to job loss and social isolation. The patients with dysthymia drugs did not prefer the hospital for the treatment; instead, they have taken the prescribed medicines online.
Moreover, the pandemic has affected various phases of the market, such as production, development, and drug supply, and affected the growth of various companies due to lockdowns implemented by many governments worldwide.
Global Dysthymia Drugs Market By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others
Global Dysthymia Drugs Market - By Region
North America
South America
Europe
Asia Pacific
Middle East & Africa
North America accounted for the largest market share in 2020, owing to the increased awareness about various signs and symptoms of the disorder in the region, improved healthcare infrastructure, increasing cases of depression are expected to boost the market in the forecast period. For instance, according to the Anxiety and Depression Association of America, anxiety disorder is one of the most common mental illnesses in the United States, affecting approximately 40 million American adults every year, 18.1% of the total population of the United States. Additionally, more than 16.1 million American adults suffer from major depressive disorder every year, and it is more prevalent in women than men. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.
Major Key players in the dysthymia drugs market are GlaxoSmithKline PLC, Sanofi, AstraZeneca, Eli Lilly and Company, Pfizer Inc., Johnson & Johnson, Allergan PLC, Otsuka America Pharmaceutical, Inc., Sun Pharma Global FZE and Bristol Myers Squibb Co.
Pfizer Inc.:
Overview:
Pfizer Inc. is a research-based global biopharmaceutical company. It is occupied in the discovery, development and manufacture of healthcare products. Moreover, its international collection includes medicines and vaccines as the company manages commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). In addition, IH focuses on developing and commercializing medicines and vaccines. Furthermore, IH therapeutic areas include internal medicine, vaccines, oncology, inflammation and immunology, rare diseases and consumer healthcare. EH includes legacy brands, branded generics, generic sterile injectable products, and biosimilars, infusion systems.
Product Portfolio:
Pfizer Inc. has continuously set standards for manufacturing drugs for depression including pristiq, Zoloft and others.
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