OCD Therapeutics Market is Forecast to Show Growth Steadily until 2017, The report is an essential source of information and analysis on the global OCD market.
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GlobalData estimates that the global Obsessive Compulsive Disorder (OCD) therapeutics market was valued at $694m in 2010, and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 11.7% over the next seven years, to reach $1.5 billion by 2017. This steady growth is primarily attributed to the increase in treatment-seeking behavior and disease awareness and the increasing use of off-label drugs, although no major pipeline products are estimated to be launched in the forecast period.
Need for Disease Modifying Therapies
GlobalData’s research suggests that the current market is well served by the drugs approved by the US Food And Drug Administration (FDA) and the European Medicines Agency (EMEA), off-label drugs and alternative therapies such as cognitive behavioral therapy. OCD treatment is primarily dependent on alternatives therapies such as cognitive behavioral therapy instead of drug medication. This is largely due to the fact that drugs prescribed for OCD are limited to offering symptomatic relief, moreover, several patients suffer relapse. This indicates that the OCD therapeutics market needs better treatment options which can cure the underlying cause of the disease.
High Unmet Needs in the OCD Therapeutics Market
The OCD therapeutics market has a high level of unmet need. This is due to limited awareness among physicians and patients leading to low diagnosis and treatment rates. Although the OCD therapeutics market has FDA approved drugs such as Selective Serotonin Reuptake Inhibitors (SSRIs) and Tricyclic Antidepressants (TCAs), these drugs have moderate efficacy and safety profiles. The OCD therapeutics market offers significant opportunities for novel drugs targeting the cause of the disease.
Current Pipeline of OCD Therapeutics is Weak
Pipeline for OCD therapeutics consists of eight molecules in various phases of development. The molecules have different mechanisms of action such as Fc-receptor modulator, glutamate receptor antagonist, dopamine type 2 (D2) and serotonin type 2 (5HT2A) receptor antagonists, delta-9- tetrahydrocannabinol (THC) and orexin receptors antagonist. Although the OCD therapeutics pipeline contains three first-in-class molecules but only one of these drugs is industry-sponsored and is in a preclinical stage of development.
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GlobalData, the industry analysis specialist, has released its new report, “Obsessive Compulsive Disorder (OCD) Therapeutics - Pipeline Assessment and Market Forecasts to 2017”. The report is an essential source of information and analysis on the global OCD market. The report identifies the key trends shaping and driving the global OCD market. The report also provides insights on the prevalent competitive landscape and the emerging players expected to significantly alter the market positioning of the current market leaders. Most importantly, the report provides valuable insights on the pipeline products within the global OCD sector. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
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