The Anti-Suicide Drugs Market to Grow With Increasing Suicidal Rates Across the Globe

 

Global Anti-Suicide Drugs Market, by Drug Class (Anti-Depressant and Anti-Anxiety Drugs, Anti-Psychotic Drugs, NMDA Antagonist, and Antibiotic Analog) and Region (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America) - Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Anti-Suicide Drugs Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period (2023-30), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Depression is one of the major healthcare burden worldwide, leading to the lower productivity and suicidal ideation (in severe cases). Thus, there is an increasing demand for anti-depressant and anti-psychotic drugs as they help prevent or control suicidal thoughts as well as suicidal attempts. Selective serotonin reuptake inhibitors (SSRIs) are a class of drugs that doctors consider first-line treatments for depression and anxiety. Anti-suicide drugs are usually prescribed to prevent patients from suicidal thoughts and attempts. Anti-Suicide Drugs Market cure the underlying conditions that predispose a person to suicidal tendencies.

Competitive Landscape:

Major players operating in the global anti-suicide drugs market are Johnson & Johnson, Eli Lilly, and Company, Pfizer, Inc., Allergan plc, GlaxoSmithkline plc, AstraZeneca plc, Merck & Co., Inc., H. Lundbeck A/S, and NeuroRx, Inc. among others.

Key Market Drivers:

Increasing suicidal rates across the globe is expected to boost the growth of the global Anti-Suicide Drugs Market during the forecast period. For instance, according to the World Health Organization (WHO), more than 703,000 people a year take their life around the world. Millions of people suffer intense grief or are otherwise profoundly impacted by suicidal behaviors. For every suicide, there are likely 20 other people making suicide attempt and many more have serious thoughts of suicide. Thus, there is an increase in demand for anti-suicide drugs worldwide.

Moreover, rise in awareness among people about anti-suicide drugs and their benefits is expected to boost the growth of the anti-suicide drugs market. For instance, World Suicide Prevention Day (WSPD) was established in 2003 by the International Association for Suicide Prevention and the World Health Organization (WHO). The 10th of September each year focuses attention on issues, reduces stigma, and raises awareness among organizations, government, and the public, giving a singular message that suicide can be prevented.

COVID-19 Impact Analysis:

The outbreak of COVID-19 has exacerbated the risk factors associated with suicidal behavior and thus, prioritizing its prevention is recommended. The mental health impact of social distancing, COVID-19 quarantine, and financial crises due to loss of employment were associated risk factors with suicide and/or suicidal attempts during the pandemic. This in turn has increased or is expected to increase demand for anti-suicide drugs worldwide, driving the market growth.

Key Takeaways:

·        The anti-suicide drugs market is expected to exhibit a CAGR of XX % during the forecast period due to the introduction of novel drugs by market players. For instance, in August 2020, the Food and Drug Administration (FDA) approved a variant of the anesthetic and party drug ketamine for suicidal patients with major depression. The drug is a nasal spray called Spravato and it contains ketamine, a chemical cousin of ketamine.

·        Among regions, North America and Asia Pacific are expected to witness robust growth in the anti-suicide drugs market due to the increasing suicidal rates, rising awareness among people, increase in research and development, and introduction of novel drugs in these regions.

For instance, according to the National Crime Records Bureau (NCRB), August 2022 report, a total of 1,64,033 suicides were reported in India in 2021, an increase of 7.2% in comparison to the previous year in terms of total numbers. India reported a rate of 12 (per lakh population) and this rate reflects a 6.2% increase during 2021 over 2020.

Moreover, according to the U.S. Centers for Disease Control and Prevention (CDC), in 2020, over 45,979 people in the U.S. died by suicide; that’s 1 death every 11 minutes.