Obsessive-Compulsive Disorder Drugs Market size worth USD 348.54 million, 55% Growth to Originate from North America - Technavio
NEW YORK, Jan. 25, 2024 /PRNewswire/ -- The obsessive-compulsive disorder drugs market is anticipated to grow by USD 348.54 million, progressing at a CAGR of 5.93% during the forecast period. Based on Geography, the market is classified as North America, Europe, Asia, and the Rest of the World (ROW). North America is estimated to contribute 55% to the during the forecast period. The growth of the obsessive-compulsive disorder (OCD) drugs market in North America is fueled by three key factors: increasing OCD prevalence, government efforts to address OCD, and drug availability. The rising number of OCD cases in the US and Canada is propelling the expansion. Additionally, the wide range of OCD medications in the US and Canada is driving growth in the North American OCD drugs market.
The rising prevalence of OCD is notably driving growth. The occurrence of OCD is elevated in high-income nations because of significant lifestyle shifts. Exposure to visual media, like movies, can trigger individuals with imaginary images, intrusive thoughts, and urges. OCD ranks as the fourth most prevalent mental disorder in these countries, affecting men, women, and children, with its onset often observed in childhood, adolescence, or early adulthood.
Expanding research on first-in-class peptide therapeutics is an emerging trend shaping the growth. On the other hand, Adverse reactions to OCD drugs are huge challenges in front of the industry.
The obsessive-compulsive disorder drugs market report provides complete insights on key companies including Alembic Pharmaceuticals Ltd., Anant Pharmaceuticals Pvt. Ltd., Apotex Inc., BrainsWay Ltd., Dellwich Healthcare LLP, Eli Lilly and Co., Eridanus, flamingopharma.com, GlaxoSmithKline Plc, H Lundbeck AS, Jabs Biotech, Jazz Pharmaceuticals Plc, Kabir Lifesciences, Lepu Medical Technology Beijing Co. Ltd., Lifecare Neuro Products Ltd., Novartis AG, Omeros Corp., Pfizer Inc., SERVOMAX Ltd., Wellona Pharma, and Neurocon Inc.
Based on Product, the market is classified into SSRI, TSA, and others. The growth of the SSRI segment will be significant during the forecast period. The segment's growth is driven by the availability of numerous SSRIs in the market, including fluoxetine, fluvoxamine, paroxetine, sertraline, citalopram, and escitalopram. These drugs work by selectively inhibiting the presynaptic serotonin or 5-hydroxytryptamine (5-HT) reuptake transport system, thereby increasing serotonin levels in the brain. Major countries and organizations like the US, the European Union (EU), and Japan have approved multiple generic versions due to the high demand for SSRIs.
Drug Applications and Considerations in Obsessive-Compulsive Disorder (OCD) Treatment
Obsessive-Compulsive Disorder (OCD) drugs, such as SSRIs (Selective Serotonin Reuptake Inhibitors) like clomipramine (Anafranil), fluoxetine (Prozac), fluvoxamine (Luvox), paroxetine (Paxil), sertraline (Zoloft), and escitalopram (Lexapro), are used in conjunction with Cognitive-Behavioral Therapy (CBT) and Exposure and Response Prevention (ERP) techniques. These medications target neurotransmitters like serotonin and are sometimes supplemented with antipsychotics as adjunct therapy. The drugs are subject to FDA approvals, clinical trials, and treatment guidelines, with considerations for side effects, psychotherapy, drug patents, generic medications, pharmaceutical companies, market trends, healthcare costs, insurance coverage, patient compliance, drug development, mental health stigma, global market analysis, regulatory policies, and emerging digital therapeutics and personalized medicine approaches.
Related Report
The Respiratory Drugs Market size is estimated to grow by USD 30.23 billion at a CAGR of 6.38% between 2022 and 2027.
The bronchiectasis drugs market size is estimated to grow at a CAGR of 9.98% between 2022 and 2027. The market size is forecast to increase by USD 326.01 million.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Product
Segmentation by Route Of Administration
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 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 insights to identify opportunities in existing and potential and assess their competitive positions within changing scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/obsessive-compulsive-disorder-drugs-market-size-worth-usd-348-54-million-55-growth-to-originate-from-north-america---technavio-302043511.html
SOURCE Technavio
