Amitriptyline Market Size Is Expected to Reach US$ 762.2 Million at a CAGR of 5.3% By 2027 | Share Analysis, Emerging Trends and Future Growth
Global Amitriptyline Market, By Strength (10 mg tablets, 25 mg tablets, 50 mg tablets, 75 mg tablets, 100 mg tablets, and 150 mg tablets), By Indication (Depression, Nocturnal Enuresis, Migraine, Chronic Neuropathic Pain, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 527.4 million in 2020 and is expected to exhibit a CAGR of 5.3% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
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The increasing R&D activities focused on evaluating the efficiency of amitriptyline in various therapeutic areas, is expected to drive the growth of the global amitriptyline market. For instance, in April 2016, Boston Medical Center initiated phase 2 clinical study to compare the effectiveness of amitriptyline versus placebo (inactive medication) in treating chronic laryngitis. The study is expected to complete in October 2022.
Global Amitriptyline Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, manifestation of the coronavirus disease (COVID-19) has resulted in more than 36.1 million infected individuals worldwide as of October 7, 2020.
COVID-19 has affected the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as India, China, UAE, Saudi Arabia, and others are facing problems with regards to transportation of drugs from one place to another.
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The coronavirus (COVID-19) pandemic and resulting lockdowns in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector has been impacted significantly by the pandemic. The lockdowns have placed an economic burden on the private as well as public healthcare sector.
Healthcare providers were facing problems in investing additional manpower, equipment, consumables, and other resources to ensure safety in hospitals, provide treatment to patients with other diseases, and declining outpatient visits, etc.
Furthermore, pharmaceutical companies are facing major challenges on various fronts due to the pandemic. The major challenges include disruption in supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Moreover, distributors of drug products are experiencing irregular demand from retailers.
Browse 36 Market Data Tables and 37 Figures spread through 178 Pages and in-depth TOC on “Global Amitriptyline Market, By Strength (10 mg tablets, 25 mg tablets, 50 mg tablets, 75 mg tablets, 100 mg tablets, and 150 mg tablets), By Indication (Depression, Nocturnal Enuresis, Migraine, Chronic Neuropathic Pain, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the Global Amitriptyline Market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/amitriptyline-market-3497
The global amitriptyline market growth is expected to be driven by high prevalence of depression and prescriptions of antidepressants. For instance, according to data published by the American Psychological Association in 2017, there was a 64% increase in the percentage of people using antidepressants between 1999 and 2014 in the U.S.
Key Takeaways of the Global Amitriptyline Market:
- The global amitriptyline market is expected to exhibit a CAGR of 5.3% during the forecast period owing to the increasing prevalence of depression among the population, which may facilitate demand for amitriptyline.
- Moreover, research institutes are also engaged in conducting clinical trials which is contributing to growth of the market. For instance, in September 2020, the University of California, Davis commenced a clinical trial to assess the physiological and behavioral mechanisms associated with amitriptyline in adult patients with functional GERD-related symptoms. The study estimated to complete in December 2021.
- Key players operating in the global amitriptyline market are Accord Healthcare Inc., Mylan Pharmaceuticals Inc., Sandoz Inc., Sun Pharmaceutical Industries Inc., Vintage Pharmaceuticals Inc., Zydus Pharmaceuticals USA Inc., Watson laboratories Inc., and Torrent Pharmaceuticals Ltd.
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