April 21, 2024

The Global Amitriptyline Market Is Estimated To Propelled By Growing Demand For Antidepressant Drugs

Amitriptyline is a tricyclic antidepressant that is used to treat major depressive disorder and other conditions such as post-traumatic stress disorder and migraine headaches. It works by inhibiting the reuptake of the neurotransmitters serotonin and norepinephrine in the brain, increasing their levels.

The global Amitriptyline Market is estimated to be valued at US$ 699.27 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand for antidepressant drugs has been steadily increasing over the years due to the growing prevalence of mental health disorders such as depression and anxiety across the world. According to the World Health Organization (WHO), depression is one of the leading causes of ill health and disability worldwide. Rising awareness about the symptoms and treatment of mental illnesses is prompting more people to seek help using prescription antidepressants such as amitriptyline. Additionally, rising urbanization and stressful lifestyles in modern societies are expected to contribute to the growing number of depression cases worldwide in the coming years, thereby driving the demand for antidepressants in the market.

SWOT Analysis

Strength: Amitriptyline is an effective treatment for depression and neuropathic pain. It has been used for several decades and its efficacy and safety profile are well established.

Weakness: Amitriptyline can cause serious side effects like blurred vision, constipation, dizziness, drowsiness. It also has risks of more serious side effects like increased suicide risk. There are also availability of new generation antidepressants.

Opportunity: Increasing burden of depression and neuropathic pain globally. Growing awareness about availability of effective medications for these conditions.

Threats: Patent expiries of amitriptyline allowing development of low-cost generic versions. Potential changes in treatment guidelines recommending newer drugs over amitriptyline.

Key Takeaways

The global Amitriptyline market demand is expected to witness moderate growth. The global Amitriptyline Market is estimated to be valued at US$ 699.27 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

Regional analysis Regional analysis The North American region currently dominates the global Amitriptyline market owing to high disease prevalence and availability of advanced healthcare facilities. Asia Pacific is expected to grow at a fastest pace due to rising geriatric population, improving healthcare infrastructure and growing medical tourism. Key players related content

Key players operating in the Amitriptyline market are Adani Wilmar Ltd., Ruchi Soya Industries Ltd, Associated British Foods plc, Archer Daniels Midland Company, Beidahuang Group, Bunge Limited, Borges Mediterranean Group, Cargill Incorporated, Fuji Vegetable Oil, Inc., Adams Group, American Vegetable Oils, Inc., and Olympic Oils Limited.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it