Fluoxetine Global Market Report 2024

Fluoxetine, classified as a selective serotonin reuptake inhibitor (SSRI), is widely utilized as an antidepressant and for various psychiatric conditions. Its mechanism involves boosting serotonin levels, a neurotransmitter crucial for regulating mood, emotions, and behavior in the brain. Prescribed commonly for depression, fluoxetine aids in enhancing sleep, appetite, and energy levels among individuals with major depressive disorder.

Fluoxetine is available in diverse forms such as tablets, solutions, capsules, and syrups. Tablets, a solid oral dosage form, dissolve in the stomach upon ingestion and are administered to adults, children, and the elderly. This medication is frequently prescribed for conditions including obsessive-compulsive disorder, panic disorder, depression, and bulimia nervosa. It is utilized across various settings such as clinics and hospitals.

The fluoxetine market research report is one of a series of new reports that provides fluoxetine market statistics, including fluoxetine industry global market size, regional shares, competitors with a fluoxetine market share, detailed fluoxetine market segments, market trends and opportunities, and any further data you may need to thrive in the fluoxetine industry. This fluoxetine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fluoxetine market size has grown steadily in recent years. It will grow from $0.94 billion in 2023 to $0.99 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The increase observed in the historical period can be credited to rising rates of depression and anxiety disorders, greater awareness and normalization of mental health concerns, improvements in healthcare infrastructure, a global population that is aging, and the availability of affordable generic fluoxetine.

The fluoxetine market size is expected to see steady growth in the next few years. It will grow to $1.19 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The anticipated growth in the forecast period is linked to government initiatives and funding aimed at mental health programs, public health campaigns that promote mental well-being, heightened awareness and discussions regarding mental health across social media platforms, the emergence of online pharmacies, and cultural shifts towards acknowledging and addressing mental health challenges. Key trends expected in the forecast period include advancements in diagnostic techniques leading to early detection, the expansion of telemedicine capabilities, improvements in drug delivery systems, increasing application of AI and machine learning in drug discovery and development, and progress in pharmacogenomics.

The increasing incidence of mental health disorders is anticipated to drive the expansion of the fluoxetine market in the future. Mental health disorders encompass a wide spectrum of conditions affecting cognitive, emotional, and behavioral functions, resulting in distress or impairment in daily life. Factors contributing to the rise in these disorders include societal pressures, economic challenges, lifestyle shifts, and improved awareness and diagnosis. Fluoxetine is utilized in the treatment of mental health disorders because it alleviates symptoms by enhancing serotonin levels in the brain, crucial for regulating mood and emotions. For example, a survey conducted in November 2022 by the National Health Service, a UK government-funded healthcare system, revealed that approximately 18% of children aged 7 to 16 and 22% of young individuals aged 17 to 24 potentially had a mental disorder in 2022. Specifically, the prevalence of likely mental disorders among young people aged 17 to 19 increased from 17.4% in 2021 to 25.7% in 2022. Consequently, the rising prevalence of mental health disorders is a significant factor propelling the growth of the fluoxetine market.

The fluoxetine market is anticipated to experience growth due to the rise in healthcare expenditure. This increase is driven by factors such as the escalating costs of advanced medical technologies, aging populations, and the prevalence of chronic diseases. As healthcare spending rises, it improves the accessibility and affordability of medications such as fluoxetine, which benefits patients requiring treatment for depression and anxiety disorders by enhancing access and adherence. Consequently, this can lead to better mental health outcomes overall and reduce long-term healthcare expenses. For example, in January 2024, healthcare expenditure in the US surged by 4.1% in 2022 to $4.5 trillion, marking a faster growth rate compared to the 3.2% increase seen in 2021, as reported by the National Institutes of Health, a US government agency.

Key players in the fluoxetine market are concentrating on innovating products such as fluoxetine tablets for treating various mental health disorders such as major depressive disorder. Fluoxetine tablets contain fluoxetine hydrochloride, an antidepressant classified as a selective serotonin reuptake inhibitor (SSRI). In April 2024, Strides Pharma Global Pte. Limited, a Singapore-based pharmaceutical company, received approval from the United States Food and Drug Administration (USFDA) for Fluoxetine Tabs 10 mg and 20 mg. This approval expands the company's fluoxetine product line by introducing tablets alongside the already-approved capsules. Fluoxetine, an SSRI, is used to treat conditions such as major depressive disorder (MDD), obsessive-compulsive disorder (OCD), bulimia nervosa, and panic disorder with or without agoraphobia. The introduction of fluoxetine tablets broadens the treatment options within the company's fluoxetine portfolio, providing patients and healthcare providers with more flexibility and choices in managing these mental health disorders.

Major companies operating in the fluoxetine market are Eli Lilly and Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Hetero Ltd., Torrent Pharmaceuticals GmbH, Aurobindo Pharma, Cadila Pharmaceuticals Ltd., Dr. Reddy's Laboratories Limited, Apotex Inc., Amneal Pharmaceuticals Inc., Lupin Ltd., Glenmark Pharmaceuticals Inc., Alvogen, Alembic Pharmaceuticals Limited, Accord Healthcare Ltd., PERRIGO Company plc, Wockhardt Ltd., Jubilant Life Sciences Ltd., Lannett Company Inc., Mayne Pharma International Pty Ltd., Par Pharmaceutical Companies Inc., Zydus Pharmaceuticals USA Inc., Ascend Laboratories LLC.

North America was the largest region in the fluoxetine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fluoxetine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the fluoxetine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The fluoxetine market consists of sales of fluoxetine hydrochloride tablets, fluoxetine powder, and fluoxetine injection. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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