It’s safe to say that we’re all feeling stressed right now. And for many of us, “stressed” doesn’t even begin to cover it.
That’s why we’re dedicating today’s blog to the impact of COVID19 on the stress management market.
Our Content Writer Clara Mouawad sat down with Mohammed Javed, a top analyst at BCC Research, for a brief discussion.
Here’s what Mohammed has to say about COVID19’s effect on the stress management market:
COVID-19 has impacted the European economies that contribute significantly to the growth of the stress management market. In 2018, Europe held the largest share of the market at 35%. Italy, Spain, Iceland, Portugal and the U.K., are radically using antidepressants, according to a recent study by the Organization for Economic Cooperation and Development (OECD).
Bans on imports and exports from China will also severely impact the adoption of stress management drugs. Mainland China, the epicenter for COVID-19, has contained the virus considerably and had started drug production, however, considering the menace of COVID- 19, it will take few more months to come to back to track.
India is another huge supplier of drugs that is under complete lockdown. Experts believe that the lockdown will continue to halt the mass production of drugs. The FDA has not disclosed the drug name but has hinted about drug shortage. There will be severe disruption in production of drugs, logistics and supply of drugs. Even if the world overcomes the COVID-19 disaster, still it will take months for normalcy.
For additional intel into the stress management market, explore our recent reports: