Saturday, August 3, 2002
Antidepressant Drug Sales Expected to Reach $20.5B By 2007-More Than 85% of the Drugs Researched Are Projected to Come to Market, In the U.S. And Europe, by 2007 PR Newswire - August 01, 2002
FOSTER CITY, Calif., Aug 1, 2002 /PRNewswire via COMTEX/ -- Front Line Strategic Consulting, Inc., a leader in consulting and market research for the Life Sciences industries, today announced a new Strategic Market Report(TM) Antidepressants, a Strategic Business Outlook and Market Analysis of the U.S. and worldwide. Front Line's market report provides in-depth analysis of market economics and business developments in the current and future antidepressants therapeutic market. The worldwide market for antidepressant drug sales is currently expected to reach $20.5B by 2007 due in part to unmet medical needs, technology improvements and product life extensions. Worldwide the antidepressants market will see a 3.4% compound annual growth rate from 2002 to 2007 in the development and increased availability of drugs available to combat the disease that affects over 330 million people.
"Our findings show that the number of people affected by major depression will continue to grow exponentially. This report provides companies with critical market information and a roadmap for emerging developments and strategic recommendations," said Molly Varnau, director of strategic market reports, Front Line Strategic Consulting, Inc.
Major depression (i.e., clinical or unipolar depression) is the leading cause of disability in the United States affecting 5% of the American population with women being affected more than two times as often as men. It is estimated that more than 5% of the worldwide population suffers from major depression. Currently, there are four different classes of antidepressant drugs used to treat depression and each has a distinct mechanism of action, a different side effect profile, and different indications of use. The most popular class of drugs SSRIs, Selective Serotonin Reuptake Inhibitors, are used a majority of the time when treating depression in the U.S. and worldwide markets.
Patent expiration and an increase of generics are two of the factors driving the shift of antidepressant market share. GlaxoSmithKline (GSK) is a major player in the antidepressant market and is likely to lose significant share by 2007, retaining less than 10% of the market as sales decline due to generic drugs coming to market. Although the market dynamics continue to be characterized by the entrance of generics, new classes of drugs, and the high prevalence of the disease-companies developing top strategies with optimal pricing, increased education and awareness, and proactive marketing strategies are likely to continue to lead in the antidepressants therapeutics category.
About Front Line Headquartered in Foster City, Calif., Front Line, a leader in consulting and market research for the Life Sciences industries, offers strategic business intelligence through exclusive consulting engagements and comprehensive strategic market reports of key therapeutic and technology areas. Founded in 1992, Front Line specializes in combining diligent research methodology with intelligent strategic planning for customers in pharmaceutical and biotechnology companies. www.frontlinesmc.com.
CONTACT: Elena M. Cerda of Front Line Strategic Consulting, Inc., +1-650-525-1500, ext. 134, or firstname.lastname@example.org. http://tbutton.prnewswire.com/prn/11690X37621276 SOURCE Front Line Strategic Consulting, Inc. CONTACT: Elena M. Cerda of Front Line Strategic Consulting, Inc., +1-650-525-1500, ext. 134, or email@example.com URL: http://www.frontlinesmc.com http://www.prnewswire.com Copyright (C) 2002 PR Newswire. All Rights Reserved.