The antidepressant market - Italy

Antidepressants are medically defined as anything, and especially a drug, used to prevent or treat depression. Available antidepressant drugs include SSRIs or selective serotonin-receptor inhibitors, MAOIs or mono amino oxidase inhibitors, tricyclic antidepressants, tetracyclic antidepressants, and others. The global antidepressant market is expected to grow from $14.3 billion in 2019 to about $28.6 billion in 2020 as mental health problems are expected to increase due to the COVID-19 pandemic. The market is expected to stabilize and reach $19 billion at a CAGR of 7.4 % through 2023. Iqvia (a global health information provider) reports a 2.5 % increase in the consumption of antidepressant drugs and a 24 % increase for insomnia and anxiety drugs (in both hospital and pharmacy sales channels) between January and September 2020 compared to the same period in 2019. In addition, 20 % of the population reportedly experienced depressive symptoms during the pandemic (double the incidence of the previous period) indicating a clear connection between lockdown periods and mental health. According to WHO, 3 million Italians suffer from depression, 1 million of whom have major depression. In addition, the Osmed Report (Aifa) confirms that about 12 million packs of antipsychotics are consumed each year in Italy. These numbers give an idea of the potential of the antidepressant market in this country. Regarding some of the trends inherent in the Italian market, it is worth noting that there is still a huge disparity between the northern and southern regions of the country regarding the recognition and acceptance of mental illness. indeed, it is possible that these values have also been influenced by stereotypes that have not yet been eradicated in southern regions, which in part delegitimize psychological therapy or discourage many individuals from resorting to it as if it were a sign of weakness or even deviance.