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Selective Serotonin Reuptake Inhibitors Market Projected to Reach US$ 1,306.40 Million by 2031: Growth Plus Reports Study

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Newark, New Castle, USA, May 04, 2023 (GLOBE NEWSWIRE) — According to Growth Plus Reports research, the selective serotonin reuptake inhibitors market will reach US$ 1,306.40 million by 2031, with a revenue CAGR of 5.3%. The study examines vital tactics, trends, competition, industry dynamics, market size, statistics and projections, and critical investment territories.

Key Takeaways:

  • The increasing prevalence of depression and anxiety will drive market revenue growth.
  • Increasing awareness of the importance of mental health will drive demand for selective serotonin reuptake inhibitors.
  • North America dominates the global selective serotonin reuptake inhibitors market. 

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                  Selective Serotonin Reuptake Inhibitors Market Scope

Report Attribute Details
Market Size Value in 2022 US$ 827.77 Million
Market Size Value in 2031 US$ 1,306.40 Million
Growth Rate CAGR of 5.3% from 2023 to 2031
Base Year for Estimation 2022
Forecast Period 2023 to 2031
Historical Year 2021
Segments Covered Application, Distribution Channel, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Market Drivers

The increasing prevalence of depression, anxiety, panic attacks, and chronic pain due to stress and pressure from different aspects of life will drive the revenue growth of the selective serotonin reuptake inhibitors market. Furthermore, increasing awareness about the importance of mental health, increasing R&D, and improving global healthcare infrastructure are expected to boost the market revenue growth rate. 

Market Segmentation
Growth Plus Reports has analyzed the global selective serotonin reuptake inhibitors market from three perspectives: Application, Distribution Channel, and Region. 
  
Application Segmentation: Based on the application, the selective serotonin reuptake inhibitors market is segmented into chronic pain, depression, anxiety, and panic attack, and others. The depression segment dominates the market because of its rising prevalence.

Distribution Channel Segmentation: Based on the distribution channel, the selective serotonin reuptake inhibitors market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacy segment dominates the market because hospital pharmacies dispense prescribed selective serotonin reuptake inhibitors because hospitals are the primary place for medical care and treatment.

Regional Growth Dynamics
Based on the region, the selective serotonin reuptake inhibitors market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. 

North America dominates the global selective serotonin reuptake inhibitors market, with the largest revenue share of the market. The increasing prevalence of mental disorders such as depression due to unemployment, work stress, etc., modern healthcare facilities, and rising healthcare spending are the major factors that are attributed to North America’s large revenue share in the global market.  

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Competitive Landscape

Some key players operating in the global selective serotonin reuptake inhibitors market are:

  • AbbVie Inc.
  • Apotex Inc.
  • Aurobindo Pharma Ltd.
  • Cipla Inc.
  • Eli Lilly and Co.
  • GlaxoSmithKline Plc
  • H. Lundbeck AS
  • Lupin Ltd.
  • Pfizer Inc.
  • Takeda Pharmaceutical Co., Ltd.

The selective serotonin reuptake inhibitors market is competitive with several global corporations. Market giants invest in technological advancements, focus on research and development, and engage in mergers and acquisitions to strengthen their market position.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022) 
    3. Regulatory Landscape
    4. Reimbursement Scenario
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL SELECTIVE SEROTONIN REUPTAKE INHIBITORS MARKET – ANALYSIS & FORECAST, BY APPLICATION
    1. Depression
    2. Anxiety and Panic Attack
    3. Chronic Pain
    4. Others
  6. GLOBAL SELECTIVE SEROTONIN REUPTAKE INHIBITORS MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
    1. Hospital Pharmacies
    2. Retail Pharmacies
    3. Online Pharmacies

SELECTIVE SEROTONIN REUPTAKE INHIBITORS MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • ‘Business Profile’ of Key Players

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About Us:

Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).

Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.

We were awarded by the prestigious CEO Magazine as “Most Innovative Healthcare Market Research Company in 2020”.


        

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