OCD is a long-lasting mental health condition characterized by frequent thoughts or urges and repetitive behaviors or actions that people feel like they continue doing repeatedly.
The development of new OCDs drugs and advancements in anti-psychotic and anti-depressant drugs are one of the main reasons for the market growth of OCD drugs. Additionally, frequent product launches are also an important driver affecting the market growth of obsessive-compulsive disorder drugs. For instance, in February 2019, Lupin launched Clomipramine Hydrochloride Capsules USP, 25 mg, 50 mg, and 75 mg having received approval from the United States Food and Drug Administration (FDA).
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The Obsessive-compulsive disorder Market is expected to grow at a steady rate of around 7% owing to the rising stress, anxiety and depression. Major companies in the market that offer Abbott, Pfizer Inc., Merck Co. Inc., Sanofi, Novartis AG, AbbVie Inc., Eli Lilly and Company, and AstraZeneca.
According to UnivDatos Market Insights (UMI)’ research report “Global Obsessive-Compulsive Disorder Drugs Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the growing incidences of depression and anxiety disorders.
Based on the drug type, the market has been categorized into SSRIs, anxiolytic, and antidepressants. Among them, the antidepressant segment is expected to have significant growth in the market. The ease of availability and higher awareness about the drug among the population is one of the main reasons for the market growth of the antidepressants category in the OCDs market.
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Based on the distribution channel, the market has been categorized into hospital pharmacies, retail pharmacies, online pharmacies, and others. Among them, the online pharmacy segment is expected to have significant growth in the market. The increasing internet penetration and rising number of mobile applications are attributed to the segmental growth in the obsessive-compulsive disorder drugs market. For instance, as per the world bank, 29% of the Indian population was using the internet in 2019, and the number reached 43% by 2020.
North America to witness extensive growth
For a better understanding of the market adoption of the obsessive-compulsive disorder drugs industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America constitutes a significant obsessive-compulsive disorder drugs market due to the increasing RD activities and frequent product launches. For instance, in December 2021, Dr. Reddy’s Laboratories has launched Venlafaxine ER Tablets in the U.S. market.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the obsessive-compulsive disorder drugs market are Abbott, Pfizer Inc., Merck Co. Inc., Sanofi, Novartis AG, AbbVie Inc., Eli Lilly Company, AstraZeneca, Meiji Holdings Co. Ltd, and Brainsway.
“Global Obsessive-compulsive disorder drugs Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Drug Type (SSRIs, Anxiolytic, and Antidepressants))
- By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (Abbott Laboratories, Pfizer Inc., Merck Co. Inc., Sanofi S.A., Novartis AG, AbbVie Inc., Eli Lilly and Company, AstraZeneca plc, Meiji Holdings Co. Ltd, and Brainsway Ltd.)
Key questions answered in the study:
- What are the current and future trends of the global obsessive-compulsive disorder drugs industry?
- How the industry has been evolving in terms of drug type and distribution channel?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global obsessive-compulsive disorder drugs industry?
- What is the customer orientation, purchase behavior, and expectations from the global suppliers across various region and countries?
