Press release
Obsessive-Compulsive Disorder Drugs Market is expected to grow at a CAGR of around 7% from 2022-2028
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The obsessive-compulsive disorder drugs market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the obsessive-compulsive disorder drugs market. The obsessive-compulsive disorder drugs market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the obsessive-compulsive disorder drugs market at the global and regional levels.
Market Overview
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 5% owing to the increasing number of viral diseases. Major companies in the market that offer obsessive-compulsive disorder are Roche, Merck & Co., Bristol-Myers Squibb, Biogen Inc., Bayer AG, Zydus Cadila, Novartis AG, Pfizer Inc., Biosidus, and Synairgen.
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COVID-19 Impact
COVID-19 has a staggering effect and has a negative on the global market. however, the market for obsessive-compulsive disorder drugs witnessed growth during this period. This is mainly due to the strict regulation of social isolation, lockdowns, and declined financial conditions that have severely affected the mental health of the people. Thus, the issues like stress, anxiety, depression, insomnia, denial, anger, and fear increase and increase the demand for depression drugs.
The global obsessive-compulsive disorder drugs market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
• 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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Obsessive Compulsive Disorder Drugs Market Geographical Segmentation Includes:
• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the 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
The major players targeting the market include
• 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.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the obsessive-compulsive disorder market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the obsessive-compulsive disorder drugs market?
• Which factors are influencing the obsessive-compulsive disorder drugs market over the forecast period?
• What are the global challenges, threats, and risks in the obsessive-compulsive disorder drugs market?
• Which factors are propelling and restraining the obsessive-compulsive disorder drugs market?
• What are the demanding global regions of the obsessive-compulsive disorder drugs market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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