The UK Antidepressants market size stood at around USD xx billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.
Depression mainly occurs due to the factors, such as social isolation and stressful work environment, which contributed the most to increasing the number of people suffering from depression. The number of people falling prey to depression and related disorders is expected to continue to increase, because of improper eating habits, stressful work schedule, increasing isolation from family and loved ones due to technology, and the inability to adapt to the rapid pace, at which, the world is moving forward. Additionally, in United Kingdom fast-paced economies, the percentage of the affected population in every age group is quite high. According to the Anxiety and Depression Foundation facts and statistics, the generalized anxiety disorder affects 6.8 million adults or 3.1% of the United Kingdom population per year. Thus, the rising cases of depression across the world are expected to drive the overall growth of the market studied over the forecast period.
The COVID-19 pandemic is expected to have a significant positive impact on the growth of the studied market. The pandemic is predicted to have a long- and short-term impact on the individual’s mental illness, given the hurdles faced during the crisis, such as social isolation due to lockdown, job insecurity, and fear of being infected by coronavirus. Thus, given the increasing incidence of depression and anxiety among the population over the pandemic, the antidepressant market is expected to have a significant impact during the COVID-19 crisis. Moreover, the market is majorly driven by the rising cases of depression, increasing awareness about depression, and the emergence of novel biologics.
However, the availability of non-drug treatments and side effects associated with the anti-depressants are projected to hinder the market growth over the forecast period.