Escitalopram is frequently prescribed by psychiatrists throughout the globe for the treatment of mental illness such as major depressive disorders, generalized anxiety disorders, post-traumatic stress disorders, etc. Least side effect profile, high tolerability, and minimum damage caused to the hepatic cytochrome enzymes have made a highly popular drug in treating mental disorders and are recorded in the World Health Organization (WHO) essential medicines list.
Major depression disorders are leading the diseased segment for the Escitalopram market. According to the statistics brought forward by the World Health Organization (WHO), approximately more than 300 million people worldwide are reported to be suffering from a major depressive disorder. The primary factors responsible for its huge epidemiological data are errant sleeping patterns, frequent mood swings, and money-related stress. The disease is highly manifested in the developing nations owing to the deteriorating socio-economic conditions which have a negative impact on the individual’s health. PTSD is expected to register faster growth on account of the significant rise of overwhelming guilt, anti-social lifestyle, and self-destructive behavior frequently encountered among the younger population worldwide.
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Hospital pharmacy is spearheading the end-user segment for the Escitalopram market. The primary features associated with hospital pharmacy mode of operations such as individual medicine order system, unit dose system, and automatic medicine dispensing, are essential requirements associated with medicines prescribed for neuropsychiatric illness. Retail pharmacies have gained tremendous growth momentum in the last decade owing to its ability to store bulk stock of generic version of Escitalopram and potential to cater to medicine requirements of patients residing in remote locations.
In the current situation, North America is leading the geography segment for the Escitalopram market. As per the research citings of the World Health Organization the prevalence rate of post-traumatic stress disorder in the United States is 6.8%. According to the National Institute of Health (NIH) each year approximately 25.3 million prescriptions of Escitalopram are sold in the United States. Effective implementation of treatment Guidelines pertaining to mental health further consolidated the market growth in the region. The prevalence rate of PTSD in Europe is 1.9% and is anticipated to rise in the younger population owing to the antisocial lifestyle and a significant increase in insomnia. Furthermore, an affordable reimbursement scenario determines the market growth in the region. The Asia Pacific is set to record steady growth during the forecast period on account of the rising prevalence of generalized anxiety depression among the middle-aged population and availability of a generic version of Escitalopram at a relatively lower cost.
Pharmaceutical companies actively engaged in the manufacturing of Escitalopram dosage forms are H. Lundbeck A/S, Amneal Pharmaceuticals, Aurobindo Pharma, Macleods Pharmaceuticals, Jubilant Cadista, Teva Pharmaceutical Company Limited, Pharmacare, Plc., Lupin Pharmaceuticals, Prinston Pharmaceuticals, Inc. and Invagen Pharma.
Market Key Takeaways:
Rising prevalence of mental disorders such as major depressive disorder and post-traumatic stress disorder
Affordability reimbursement scenario for Escitalopram dosage forms
The availability of relatively low-cost generic versions and improved pharmacodynamics properties increases its popularity as a prescription drug for treating mental illness.