Depression is one of the major healthcare burdens worldwide leading to lower productivity and in severe cases leading to suicidal tendencies. Anti-depressant and anti-psychotic drugs are especially high in demand during economic crisis and social negligence. These drugs also serve as a therapy for preventing suicidal thoughts and attempts. However, overdose of these drugs can be fatal and therefore, needs to be administered under the direction of a physician. Extensive research related to suicide treatment is expected to provide a better solution to the global population during the latter half of the forecast period (2019, 2027). This would improve the outlook of global anti-suicide drugs market and would help in reducing deaths due to suicide.
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The global anti-suicide drugs market was valued at US$ 3,818.1 million in 2018 and is expected to witness a moderate CAGR of 4.1% during the forecast period (2019 – 2027).
Anti-Suicide Drugs Market to be on High Growth Trajectory Post Launch of Anti-Suicidal Drug
NeuroRx Pharma has developed a novel anti-suicidal product Cyclurad (D-cycloserine and Lurasidone) which is indicated for Acute Suicidal Ideation/Behavior (ASIB) in Bipolar Depression. The estimated commercialization of the drug post-2020 is expected to be a major breakthrough innovation for the anti-suicide drugs market. Moreover, introduction of other such novel drugs for suicide would augment the anti-suicide market growth. People with major depressive disorder and risk for suicide would greatly benefit from such novel drug therapies.
Furthermore, increase in research studies for ketamine, an anesthetic drug in reducing suicidal thoughts in depressed people may also exhibit a significant growth in the market. For instance, in December 2017, a researcher from the Columbia University Medical Center in the U.S. found that administration of low-dose ketamine had a significant results in reduction of suicidal thoughts within 24 hours among 80 depressed adults. Such treatment offers a promising treatment for rapid relief of suicidal thoughts in depressed people.
Off-label use of these drugs for suicidal ideation has been a practice for years, as there are no approved anti-suicide specific drug yet. However, the dynamics is expected to change in the following few years with the launch of first oral therapeutic drug for acute suicidal ideation. This would disrupt the use of antidepressants and anti-psychotic drugs for the treatment of suicidal tendencies. Suicidal incidences are high in low and middle income countries according to the WHO 2016 statistics. Although the incidence in Asia, East Africa, and Eastern European region is high, these regions lag in terms of availability of affordable medications and healthcare facilities. Therefore developed economies of North America and Western Europe are key target regions for manufacturers in the near future. Rampant economic growth and projected strengthening of the healthcare infrastructure in emerging economies in towards the first half of the following decade is projected to shift the focus of these companies towards highly populous regions of India and China in the long run.
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Anti-Suicide Drugs Market to Gain Initial Traction in Developed Economies
Major players operating in the global anti-suicide drugs market include Pfizer, Inc., AstraZeneca plc, Eli Lilly and Company, Allergan plc, GlaxoSmithKline plc, Merck & Co., Inc., H. Lundbeck A/S, NeuroRx, Inc., and Johnson & Johnson. High healthcare expenditure in developed economies of North America and Europe is responsible for a higher market size of anti-suicidal drugs in these regions. Moreover, developed regions offer better healthcare infrastructure and are usually early adopters of new therapies. The anti-suicide drugs market in North America and Europe is expected to gain significant traction during the latter half of the forecast period, with the launch of anti-suicidal drug. Increasing healthcare expenditure in emerging economies and high prevalence of suicides in these regions is expected to bring about a paradigm shift in the market. Companies are expected to focus on capitalizing on lucrative opportunities in these regions at the turn of the following decade. This would ensure sustained growth for the market in the foreseeable future.
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