Amitriptyline Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Amitriptyline Market is anticipated to grow with an elevated CAGR of around 5% over the forecast period (2021-2027). Amitriptyline is a drug that affects certain chemical messengers (neurotransmitters) which communicate between the cells of the brain and help in regulating mood. It is a tricyclic antidepressant that is used in the treatment of various health conditions such as chronic neuropathic pain, depression, migraine, and others.

As per the American Psychological Association, in 2019, over three-quarters of adults report symptoms of stress, including headache, tiredness, or sleeping problems. Also, in 2020, almost 91% of Australians feels stressed about one or more important parts of their life. This increased level of stress among the population across the world has been causing disorders such as depression which in turn is boosting the amitriptyline market as it is a tricyclic antidepressant. For instance, as per the WHO, one of the leading causes of disability around the globe is depression. More than 264 million people suffer from depression globally in 2020. this number is expected to increase in the upcoming years which will also positively impact the demand for the antidepressants such as amitriptyline in the forecast period.

Additionally, Amitriptyline is also an effective, inexpensive and off-label drug used for preventing migraine and tension-type headaches. Migraine is the third most common disease in the world, according to the Migraine Research Foundation. In 2019, almost 1 billion has been affected by migraine. This drug is also given in combination with other salts such as Anxipan which combines amitriptyline and pantoprazole. This is also contributing to the growth of the amitriptyline market. However, the side effects associated with the drug and the availability of alternative treatments are some of the factors impeding the growth of the market.

Top 10 Countries with the Highest Rates of Depression, 2021

Accord Healthcare Inc., Mylan Pharmaceuticals Inc., Sandoz Inc., Sun Pharmaceutical Industries, Vintage Pharmaceuticals Inc., Zydus Pharmaceuticals USA Inc., Watson Laboratories Inc., Torrent Pharmaceuticals Ltd., are some of the prominent players operating in the amitriptyline market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with amitriptyline.

Insights Presented in the Report

“Amongst Strength, 10 mg tablets segment holds the major share”

Based on strength, the amitriptyline market is segmented into 10 mg tablets, 25 mg tablets, 50 mg tablets, 75 mg tablets, 100 mg tablets, and 150 mg tablets. The 10 mg tablets segment accounted for the significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period owing to the frequent product launch and wide availability of low strength tablets in the market.

“Amongst Indication, Chronic neuropathic pain segment holds the major share”

Based on indication, the amitriptyline market is segmented into depression, migraine, nocturnal enuresis, chronic neuropathic pain, and others. The chronic neuropathic pain segment occupied the major share of the amitriptyline market in 2020 and it is expected to grow with substantial CAGR in the upcoming years owing to the growing prevalence of neuropathic pain all over the world. As per the 2019 article published in an International Journal, neuropathic pain in the general population is estimated to have a prevalence ranging between 3% and 17%.

“Amongst Distribution Channels, Hospital Pharmacies segment holds the major share”

Based on distribution channels, the market is fragmented into hospital pharmacies, retail pharmacies, and online pharmacies. In 2020, the hospital pharmacies segment grabbed the considerable market share, and it is expected to grow at a significant CAGR during the forecast period as amitriptyline is a prescription drug available as a tablet in many of the hospital pharmacies.

“North America represents one of the largest markets of amitriptyline market”

For a better understanding of the market dynamics of the amitriptyline market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the amitriptyline market industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global amitriptyline market were the three major steps undertaken to create and analyze the adoption of amitriptyline in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global amitriptyline market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Amitriptyline through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the amitriptyline market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as strength, indication, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of amitriptyline across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the amitriptyline. Further, we conducted factor analysis using dependent and independent variables such as growing prevalence of depression and neuropathic pain. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the amitriptyline sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the amitriptyline market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of amitriptyline across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the amitriptyline market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the amitriptyline market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of strength, indication and distribution channel of the amitriptyline market.

The main objective of the Amitriptyline Market Study

The current & future market trends of amitriptyline were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of amitriptyline in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of strength, indication and distribution channel
• Define and analysis of the regulatory framework for the amitriptyline industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the amitriptyline market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
• Company profiles of the amitriptyline market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry