LONDON--(BUSINESS WIRE)--The global obsessive-compulsive disorder drugs market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.
Although conventional therapies can treat OCD such as anti-anxiety, antipsychotic, and antidepressant drugs, along with behavioral therapies and psychotherapy, these medications and therapies are only for short-term treatment. Moreover, OCD can only be managed and cannot be entirely cured without patient compliance. This is why vendors have been striving to launch new molecules that can effectively treat OCD. Some of the recently approved molecules include clomipramine, fluvoxamine, sertraline, fluoxetine, and paroxetine, that are expected to treat OCD effectively.
As per Technavio, increased use of off-label therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global obsessive-compulsive disorder drugs market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global obsessive-compulsive disorder drugs market: Increased use of off-label therapies
Although several approved therapies dominate the OCD drug market, the heterogeneous nature of both OCD disorder and patients’ response to treatment has led to increased use of off-label treatments. Some of the off-label medicines used to treat OCD include vortioxetine, duloxetine, aripiprazole, duloxetine, vortioxetine, and risperidone. These off-label therapies are second-line therapies. The use of off-label therapies is likely to increase in the OCD drugs market over the forecast period.
“Apart from the increased use of off-label therapies, the expanding research on first-in-class peptide therapeutics and the increasing generic approvals will have a significant impact on the obsessive-compulsive disorder drugs market growth during the forecast period,” says a senior analyst at Technavio.
Global obsessive-compulsive disorder drugs market: Segmentation analysis
This market research report segments the global obsessive-compulsive disorder drugs market by product (SSRI, TCA, and others), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the obsessive-compulsive disorder drugs market in 2018, followed by Europe, Asia, and ROW, respectively. The growth of the obsessive-compulsive disorder drugs market in North America can be attributed to factors such as the growing incidence of OCD in the US and Canada, rising government initiatives to combat OCD, and the increased availability of a large number of OCD drugs.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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