According to Coherent Market Insights, the global amitriptyline market 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).
Key Trends and Analysis of the Global Amitriptyline Market:
Various research institutes are studying the effect of amitriptyline for various disease indications, which is expected to drive the growth of global amitriptyline market. For instance, in April 2016, Boston Medical Center has 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.
The increasing prevalence of depression or bipolar disorders is expected to drive demand for tricyclic antidepressants such as amitriptyline, and thereby contribute to the growth of the global amitriptyline market. According to the Global Burden of Disease Collaborative Network, in 2017, the prevalence of bipolar disorder ranged from 0.3% to 1.2% by country and around 46 million people suffered from the bipolar disorder worldwide. Bipolar disorder is a brain disorder, also known as manic illness that affects the mood, energy level, and other activities.
Moreover, the increasing prevalence of migraine is another factor contributing to growth of the amitriptyline market. According to Migraine Research Foundation, migraine is the third most common disease in the world, and has affected 39 million men, women and children in the U.S. and 1 billion worldwide in 2019.
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Key Market Takeaways:
The Global Amitriptyline Market is expected to exhibit a CAGR of 5.3 % during the forecast period, due to increasing prevalence of neuropathic pain, and migraine.
Among regions, Asia Pacific is expected to witness significant growth in the global Amitriptyline Market during the forecast period owing to presence of local players in the region such as ALPIC BIOTECH (India), Dycine Pharmaceuticals Limited, Mesmer Pharmaceuticals, and other companies offering amitriptyline.
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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