Global Obsessive Compulsive Disorder Drugs Market is expected to foresee significant growth. North America to lead the growth!
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).
The Obsessive-Compulsive Disorder Drugs Market is expected to grow at a steady rate of around 7% owing to the rising cases of cancer diseases. Major companies in the market offer Abbott, Pfizer Inc., Merck & Co. Inc., Sanofi, Novartis AG, and AbbVie Inc.
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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.
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 is 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.
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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 (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a significant obsessive-compulsive disorder drugs market due to the increasing R&D activities and frequent product launches. For instance, in December 2021, Dr. Reddy’s Laboratories has launched Venlafaxine ER Tablets in the U.S. market
Some of the major players operating in the market include Abbott, Pfizer Inc., Merck & Co. Inc., Sanofi, Novartis AG, AbbVie Inc., Eli Lilly and Company, AstraZeneca, Meiji Holdings Co. Ltd, Brainsway Lyd.
Global Obsessive Compulsive Disorder Drugs Market Segmentation
Market Insight, by Drug Type
- · SSRIs
Market Insight, by Distribution Channel
Market Insight, by Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Abbott Laboratories
- Pfizer Inc.
- Merck & Co. Inc.
- Sanofi S.A.
- Novartis AG
- AbbVie Inc.
- Eli Lilly and Company
- AstraZeneca plc
- Meiji Holdings Co. Ltd
- Brainsway Ltd.