Global Fluvoxamine Market Is Expected To Grow At A CAGR of 3.0% from 2020 to 2027


 

Fluvoxamine is categorized as an antidepressant belonging to the class of selective serotonin reuptake inhibitors (SSRI). The absorption of fluvoxamine is 53% with the plasma protein binding of 77-80% completely metabolized by the liver having a half-life of 15.6 hours thereby increasing its receptor affinity 100 folds in comparison to other SSRI’s. Fluvoxamine needs to be taken under medical supervision as drug overdose might result in the occurrence of unwanted side effects.

Obsessive-compulsive disorder is reigning the clinical application segment for the fluvoxamine market. As per the latest research citings presented by the National Institute of Health (NIH), the average age for the onset of obsessive-compulsive disorder is 19.5 years. Post-traumatic stress syndrome will be recording exemplary market performance in the near future on account of the effective implementation of treatment guidelines pertaining to depression and anxiety worldwide. As per the information provided by the World Health Organization (WHO), approximately 354 million people survivors of war are suffering from post-traumatic stress syndrome.

Browse the full report Fluvoxamine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027 at https://www.atlanticmarketresearch.com/fluvoxamine-market

Hospital pharmacy is spearheading the distribution channel segment for the fluvoxamine market. Drug overdose is associated with side effects such as drowsiness, dry mouth, loss of appetite, etc., hence it is imperative for the accurate drug compounding in the presence of hospital pharmacists to avoid the occurrence of unwanted adverse events. Retail pharmacy is expected to cater to rampant market growth during the forecast period on account of the flourishing generic drugs market and availability of essential medicines at a low price due to government subsidy.

North America is presently leading the geography segment for the fluvoxamine market. The growing incidence of anxiety primarily drives market growth in the region. As per the latest statistics provided by the Center for Disease Control and Prevention (CDC), approximately 8% of the United States population is reported to be suffering from post-traumatic stress disorder (PTSD). Furthermore, the affordable reimbursement scenario provided for the medicinal use of fluvoxamine and nurturing regulatory environment provided by the USFDA for the sale and distribution of fluvoxamine drug formulations determines the market growth in the region. Europe is placed 2nd in the regional segment for fluvoxamine market owing to the rising prevalence of obsessive-compulsive disorder (OCD) among the adult population residing in the region. Additionally, the presence of key players such as Merck KGaA, Synthon BV, BayPharma GmbH, etc further accentuates the market growth in the region. The Asia Pacific is anticipated to be the fastest-growing regional segment for the fluvoxamine market owing to the effective implementation of the treatment guidelines pertaining to anxiety and depression.

Pharmaceutical manufacturers actively engaged in the production of fluvoxamine are Synthon BV., Abbott Laboratories, Inc., Merck KGaA, Sun Pharmaceuticals Ltd., BayPharma GmbH., Apotex Corporation, Taiwan Biotech, Mylan Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Limited and Sandoz, Inc.

Key Market Movements:

Rising prevalence of depression and anxiety worldwide

Favorable reimbursement scenario for the medicinal use of fluvoxamine further propels the market growth

Effective implementation of treatment guidelines pertaining to the management of social anxiety disorder and post-traumatic stress syndrome further accentuates the market growth

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