With the mounting global burden of mental health disorders driven by the COVID-19 outbreak, the antidepressant drugs market is slated to witness exponential growth by 2027. Moreover, increasing awareness pertaining to the product in key regions across the globe is expected to further propel market growth over the forecast timeline.

The COVID-19 outbreak, and the subsequent economic recession, adversely impacted public mental health, creating new hurdles for those who were already suffering from mental health disorders. A November 2020 study found that 18% of participants (including both people with and without a previous psychiatric diagnosis) who tested positive for the COVID-19 infection were later diagnosed with mental health disorders like mood disorders and anxiety.

Older adults were also found to be more susceptible to developing a severe illness from the novel coronavirus and experience high levels of depression and anxiety. These factors have played a vital role in boosting product uptake during the pandemic. Furthermore, fear and anxiety pertaining to the COVID-19 illness and restricted social interactions have also caused a surge in depression globally, thereby impelling market adoption in recent years.

Notably, companies have been focusing on expanding the scope of application of the product, which has been favorable for business growth. For instance, in September 2021, the TOGETHER Trial, a platform research study, confirmed the benefits of using fluvoxamine, an inexpensive antidepressant drug of the selective serotonin reuptake inhibitor (SSRI) class, as part of COVID-19 treatment.

Fluvoxamine was found to decrease the number of patients needing hospitalization after testing positive for the novel coronavirus by around 30%. The trial involved prominent design and implementation contributions from researchers belonging to clinical trial company, Cytel.

The antidepressant drugs market has been bifurcated on the basis of type, application, and region. With respect to type, the market has further been divided into tricyclic antidepressants, selective serotonin reuptake inhibitors (SSRIs), serotonin & noradrenaline reuptake inhibitors (SNRIs), and others.

The selective serotonin reuptake inhibitors (SSRIs) sub-segment holds a sizable revenue share in the market and is calculated to grow at a substantial pace over 2021-2027. Growing prescription trend, high adoption, and significant costs are speculated to be key factors contributing to the growth of the segment in the coming years.

From the application perspective, the antidepressant drugs market has been segregated into obsessive-compulsive disorder, major depressive disorder, panic disorder, generalized anxiety disorder, and others. The major depressive disorder sub-segment is anticipated to amass notable gains to reach a sizable valuation by the end of 2027. Rising prevalence of depression, coupled with the negative impact of the COVID-19 pandemic on mental health, is set to fuel segmental expansion over the following years.

On the regional spectrum, North America accounted for a major portion of the antidepressant drugs market in terms of revenue and is projected to expand at a steady CAGR through the forecast period. High burden of mental health issues, significant consumer awareness, and increasing spending capacity is slated to positively influence regional market outlook in the future.