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Global Selective Serotonin Reuptake Inhibitors (SSRIs) Market 2019-2023 | 30% CAGR Projection over the Next Five Years | Technavio

21:00 EDT 11 Jul 2019 | Businesswire
Technavio Research

The global selective serotonin reuptake inhibitors market is expected to post a CAGR of close to 4% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has released a new market research report on the global selective serotonin reuptake inhibitors (SSRIs) market from 2019-2023. (Graphic: Business Wire)

Technavio has released a new market research report on the global selective serotonin reuptake inhibitors (SSRIs) market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global selective serotonin reuptake inhibitors market size is the rising prevalence of mental illnesses. Mental illness has become one of the most commonly diagnosed disorders across the world. The growing prevalence of mental illness is leading to an increased patient pool that needs effective neurological drugs for treatment. In this context, patients with mental illnesses are more likely to opt for SSRIs over antidepressant drugs owing to the increased therapeutic efficacy of SSRIs. Thus, the rising prevalence of mental illnesses is expected to fuel the SSRIs market growth during the forecast period.

As per Technavio, the growing geriatric population will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global selective serotonin reuptake inhibitors market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Selective Serotonin Reuptake Inhibitors Market: Growing Geriatric Population

The geriatric population is growing rapidly across the world. This population is more likely to develop mental disorders when compared to the adult population. Moreover, the increased awareness about self-health in patients and the availability of efficacious antidepressants such as SSRIs are likely to increase the adoption of SSRIs by the geriatric population. This is expected to positively influence the growth of the SSRIs market size during the forecast period.

“Apart from the growing geriatric population, other factors such as the lack of R&D in neuropsychopharmacology, will propel the use of SSRIs for the treatment of neurological disorders. This in addition to rising government initiatives will have a significant impact on the selective serotonin reuptake inhibitors market growth during the forecast period,” says a senior analyst at Technavio.

Global Selective Serotonin Reuptake Inhibitors Market: Segmentation Analysis

This market research report segments the global selective serotonin reuptake inhibitors market by application (depression, anxiety and panic disorder, and other mental conditions), and geographic regions (North America, Europe, Asia, and ROW).

The North American region led the selective serotonin reuptake inhibitors market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the selective serotonin reuptake inhibitors market in North America can be attributed to factors such as the presence of large pharmaceutical companies that offer both branded and generic SSRIs, and the presence of a proper regulatory framework for the approval of new drugs in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
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