Worldwide Market Reports added Latest Research Report titled “Anti-Suicide Drugs Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis” to its Large Report database.
The Global Anti-suicide Drugs Market was valued at US$ 3,318.3 million in 2015 and is projected to expand at a CAGR of 4.2% during the forecast period (2016-2024), as highlighted in a new report published by Coherent Market Insights. Introduction of novel approved drugs, expected to be commercialized post-2020, intended for treatment of suicidal ideation would be a major breakthrough for the global anti-suicide drugs market.
Until recently, suicidal ideation has been treated with anti-depressants, anti-anxiety, and anti-psychotic drugs. The trend would continue until the expected launch of Cyclurad by NeruoRx Pharma during the latter half of the forecast period (2016-2024). Cyclurad is a combination of D-cycloserine and Lurasidone and indicated for Acute Suicidal Ideation/Behavior (ASIB) in Bipolar Depression. Other drug candidates are also in the pipeline, intended for treatment of suicidal ideation in major depressive disorder (MDD).
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Suicide is among the major economic burdens to the global economy. According to the World Health Organization (WHO), over 800,000 people commit suicide every year. Most of the suicidal deaths occur in Asia, Africa, and Eastern Europe. Moreover, many suicidal attempts go unnoticed until and seldom are reported to suicidal prevention organizations, who can help alleviate the issue. Stop Suicide, Yellow Ribbon Suicide Prevention Program, and American Foundation for Suicide Prevention are some of the leading organizations working for preventing suicides. High prevalence of suicidal attempts and deaths would be another stimulus besides the introduction of novel drugs for the growth of anti-suicide drugs market.
N-Methyl-D-aspartate receptor (NMDAR) agonists and antagonist are the prospective candidate for treating suicidal ideation. Companies banking on anti-depressants and anti-psychotic drugs for treating patients at risk for suicide should reconsider their strategy, considering these are not very effective at addressing the issue. Nonetheless, these drug class are not approved for use in treating patients at risk for suicide. The global anti-suicide drugs market has been driven majorly by off-label recommendations and prescriptions of anti-depressants, anti-anxiety and anti-psychotic drugs.
Inadequate reach of healthcare facilities and affordable medications is hindering growth of overall healthcare market in emerging economies such as India, China, Brazil, and Indonesia. Therefore, companies introducing novel anti-suicidal drugs would be facing a challenge in market penetration in these nations and would be able to capture only a part of these markets to capitalize on the lucrative growth opportunities in these regions. North America and Europe remain potential markets at initial stages for the anti-suicidal drugs. High suicidal rates and accessibility to better medical therapies would be the major contributing factors for the anti-suicide drugs market in these regions.
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Key takeaways of the market:
• The global anti-suicide drugs market is majorly characterized by the use of anti-depressants, anti-anxiety and anti-psychotic drugs
• The global anti-suicide drugs market is expected to expand at a CAGR of 4.2% during the forecast period (2016-2024). Rising incidence of suicides across the globe is expected to favor the market growth for anti-suicide drugs over the forecast period.
• Suicidal rates are higher in Asia, Eastern Europe and Africa regions
• The antibiotic analog (NMDA agonist) segment in the global anti-suicide drugs market is estimated to be growing faster post its FDA approval and commercialization
• Market growth for anti-depressants and anti-anxiety drugs is projected to be impacted negatively by the launch of FDA approved anti-suicidal drugs expected towards the latter-half of the forecast period
• Some of the major players present in the global anti-suicide drugs market are Pfizer, Inc., AstraZeneca plc, Eli Lilly and Company, Allergan plc, GlaxoSmithKline plc, Merck & Co., Inc., H. Lundbeck A/S, NeuroRx, Inc., and Johnson & Johnson.
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