The anti suicidal drugs market is anticipated to grow at a significant CAGR of 4.1% during the forecast period. The market is growing due to the high prevalence of depression that leads to suicide attempts and the introduction of several novel drugs. According to FDA, depression is considered a disabling illness that is expected to lead to suicidal thoughts among people. So, pharmaceuticals companies are launching specific drugs for suicidal impulses and driving the growth of the market. Additionally, the off-label recommendation and prescription of anti-depressant and anti-anxiety drugs are also acting as the factor for the growth of the market. However, the insufficient reach of healthcare facilities and unaffordable medication are the major restraining factor for the global anti suicidal drugs market to grow in certain regions.
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Impact of COVID-19 Pandemic on Global Anti Suicidal Drugs Market
The COVID-19 had impacted the market positively. According to a study by the National Library of Medicine, COVID-19 was associated with distress, anxiety, fear of contagion, depression, and insomnia. Social isolation, fear of contagion, and the uncertainty of life and economics lead to the development of depression, anxiety, and other psychiatric disorder among the population. So, to reduce stress and anxiety among the population, doctors had prescribed anti suicidal drugs to patients with psychiatric and bipolar disorder which have increased the demand for the anti suicidal drugs market globally during the COVID-19 pandemic.
Segmental Outlook
The global anti suicidal drugs market is segmented based on the drug type and distribution channel. Based on the drug type, the market is segmented into anti-depressant & anti-anxiety drug, N-Methyl-D-Aspartate receptor antagonists, antibiotic analog, anti-psychotic drug, and others. Based on the distribution channel, the market is sub-segmented into an online pharmacy and offline pharmacy. Amongst the drug type, the N-Methyl-D-Aspartate receptor antagonist is anticipated to hold a prominent share in the global anti suicidal drugs market. Amongst the distribution channel, the offline pharmacy is anticipated to hold the major share in the global anti suicidal drugs market.
By Drug Type (Anti -Depressant & Anti-Anxiety Drug, N-Methyl-D-Aspartate (NMDA) Receptor Antagonists, Antibiotic Analog, Anti-Psychotic Drug, and Others), and
By Distribution Channel (Online Pharmacy, Offline Pharmacy)
Market Players Outlook
The major companies serving the anti suicidal drugs market include Allergan, AstraZeneca, Eli Lilly and Co., GlaxoSmithKline, Pfizer Inc., and many more. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches for the advancement of the product, to stay competitive in the market. For instance, in March 2019, VistaGen Therapeutics, a biopharmaceutical company is developing new general medicine to treat depression, social anxiety disorder, and central nervous system disease.
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global anti suicidal drugs market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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