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Esketamine Nasal Spray Market Segmented By its application such as General Anaesthetics, Treatment-resistant Depression for Pediatric, Adult and Geriatric age group
Esketamine nasal spray is a medication used together with an antidepressant taken by mouth, for treating the patients of depression, who had taken atleast 2 antidepressants treatment that did not work. Esketamine nasal spray is also used as a general anaesthetics.
The medication is administered under the direct supervision of a healthcare professional during the entire treatment session. Esketamine is available as sprays to in the market. The global Esketamine nasal spray market is expected to expand during the forecast period due to the increasing cases of depression and demand to manage it effectively.
The outbreak of coronavirus is believed to have a severe impact on the global esketamine nasal spray market. Esketamine nasal spray manufacturing industries are being shuttered around the world causing an unusual technology and business model transformation.
The outbreak of coronavirus has brought on many aspects, like falling business assurance, uncertainty about future, massive slowing of the supply chain, and others. As coronavirus has become the main focus, all biotech companies, pharmaceutical companies, and research institutes are appointed in collaboration work to deal with Covid-19.
There has been a disruption in the supply chain of esketamine nasal spray due to global restrictions. Also, due to the initial lockdown, the manufacturing industries are now facing a demand shock with an uncertain recovery timeline.
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The increasing cases of major depressive disorders is the major factor driving the global esketamine nasal spray market. According to the World Health Organization, depression is the leading cause of disability worldwide.
Another factor boosting the esketamine nasal spray market is the incomplete or poor responses to traditional anti-depressants that have led to the increased use of esketamine.
Approximately 30% of the total depression cases meet the demand for treatment-resistant depression drugs, having no positive medication response even after trying two or more anti-depressants medication.
However, there is one major factor that is expected to hamper the growth of esketamine nasal spray market, its adverse effects such as nausea, vomiting, sedation, anxiety, headache, constipation, and others.
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Based on the application, the treatment-resistant depression segment is expected to dominate the global esketamine nasal spray market due to the poor responses to anti-depressants.
Based on the age group, the adult segment is expected to hold a major share in the global esketamine nasal spray market. Based on the end-user, the hospitals segment is expected to be most profitable segment in the esketamine nasal spray market due to the higher number of patients flow in the hospital followed by specialty clinics.
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North America is expected to dominate the global esketamine nasal spray market, due to the highly developed medical infrastructure and increasing spending for the development of healthcare facilities in the region. Furthermore, rising cases of major depressive disorders is expected to drive the market.
North America is expected to be followed by Europe, due to the increasing demand for management of treatment-resistant depression in the region.
Asia-Pacific is expected to have a significant growth in the global esketamine nasal spray market over the forecast period due to the rising awareness about depression, mental health, and mental disorders and rising adoption of esketamine nasal spray in the region.
Some of the market players in the global esketamine nasal spray market identified across the value chain include: Pfizer Inc., Merck & Co., Medkoo, Endo International plc, Johnson & Johnson, and others.
