CAGR: 5.10%Current Market Size: USD 10.1 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global depression treatment market is expected to grow from USD 10.1 billion in 2022 to USD 15.0 billion by 2030, at a CAGR of 5.10% during the Projection period 2023-2030. The growth of the depression treatment market is mainly driven by the hectic lifestyle.
Multiple mental health issues known as depression are defined by a lack of optimism, which causes negative emotions like sorrow, sadness, and anxiety. When someone experiences feelings of being lost, angry, frustrated, and depressed often, it becomes a significant disorder. Such sentiments are only natural if they last for a little length of time. Antidepressants are used to treat a variety of mental health issues, such as major depressive disorder, anxiety, and depression. Dopamine and serotonin are examples of neurotransmitters that exist in the brain in chemical form and are in charge of regulating emotions, including mood and behaviour. There are many different types of antidepressants, such as tricyclic antidepressants (TCAs), monoamine oxidase inhibitors (MAOIs), selective serotonin reuptake inhibitors (SSRIs), and serotonin and norepinephrine reuptake inhibitors (SNRIs) (SRMs). Once taken, these drugs demonstrate various pharmacological effects in the brain that help restore the chemical equilibrium in the brain lost due to behavioural disorders like depression. The prevalence of mental health illnesses and ailments is rising worldwide, according to the World Health Organization (WHO). In the past ten years, there has been a 13% rise in mental health issues and other depressive diseases.
Sample Request: - Global Depression Treatment Market
Market Dynamics:
Drivers:
Innovative depression medications are being launched on the market after receiving regulatory approval from important market participants. Over the course of the Projection period, the market expansion is anticipated to be driven by the approval and launch of novel medications indicated for the treatment of various forms of depression. For instance, the SPRAVATO (esketamine) CIII nasal spray manufactured by Janssen Pharmaceutical Companies of Johnson & Johnson was granted FDA approval in March 2019 to be used in combination with an oral antidepressant in people with treatment-resistant depression (TRD). A pharmaceutical company called Sage Therapeutics, Inc. got U.S. FDA approval in March 2019 for its ZULRESSOTM (brexanolone) injection to treat postpartum depression (PPD).
Restraints:
The treatment of individuals with depression may suffer as a result of the lack of such highly qualified specialists and their scarcity. These elements may have an impact on service quality, slowing the market's expansion for depression therapy. Additionally, the introduction of generic versions of medications used to treat depression will likely spur a significant expansion of the overall market, giving consumers access to a wide range of affordable prescription options. Pharmaceutical corporations will no longer be protected by patents, exposing some drugs to generic competition for the first time. This increases competition for the businesses that created the original products. Therefore, issues with patent expiry will impede market expansion for depression treatments. For instance, the patent for the antidepressant and anxiety medication Lexapro ended on March 14, 2012.
Opportunities:
The financing for mental health services, as well as the treatment of mental disease and depression disorders, is being increased by governments. Some of the drivers driving the market are the need for high-quality therapies, affordable healthcare policies, financing from government agencies, and healthcare organization interventions for the treatment of mental health illnesses. Additionally, as they enhance brain glucose metabolism and reduce the likelihood of mental illnesses, improvements in brain and mental fitness are opening up new pathways for the treatment of depression. The development of pricey pharmaceuticals and pricey medical gadgets will also be supported by governments investing more money in healthcare infrastructure and medical services. So during the coming years, it is anticipated that demand for depression treatment would rise even more.
Challenges:
Depression and other mental illnesses are stigmatized in society. Patients who self-stigmatize experience shame and isolation, which can prevent them from receiving appropriate therapy. Additionally, it could result in somatization. For those who have never gone through it, it may be difficult to understand and may appear weak.
Segmentation Analysis:
The global depression treatment market has been segmented based on product, indication, distribution channel, and region.
By Product
The product segment is TMS devices and drugs. The TMS devices segment led the largest share of the depression treatment market with a market share of around 55% in 2022. TMS machines are frequently used when other depression treatments have failed. Additionally, administering medications that function as antidepressants increases the efficacy of treating depression without raising the risk of clinically significant adverse events, making it the most profitable form of treating depression.
By Indication
The indication segment is major depressive disorder, phobia, obsessive-compulsive disorder, and others. The major depressive disorder segment led the largest share of the depression treatment market with a market share of around 40.3% in 2022. In the Projection period, factors like rising prevalence, research studies, and product releases are anticipated to boost market growth. On the market being investigated, numerous research studies have been published. For instance, the article "Severe Depressive Disorder and Addiction" from February 2022 stated that more over 17 million adults in the United States alone had at least one major depressive episode. When someone has suicidal thoughts or a persistently low mood, anhedonia (a loss of interest in pleasurable activities), guilt or worthlessness, lack of energy, poor concentration, changes in appetite, psychomotor retardation, agitation, or sleep disturbances, these symptoms are indicative of depression.
By Distribution Channel
The distribution channel segment is e-commerce, hospitals, specialty clinics, retail pharmacies, and drug stores. The hospitals segment led the largest share of the depression treatment market with a market share of around 38.3% in 2022. Patients who are receiving therapy for depression prefer to be hospitalised to a hospital. The high market share over the following years was also influenced by the availability of highly qualified medical practitioners who offer superior treatment outcomes.
Global Depression Treatment Market - Sales Analysis.
The sale of the depression treatment market expanded at a CAGR of 4% from 2016 to 2022.
It is crucial that people receive therapy for depression on time because medical visits for depression therapies can take a long time. Initiatives must be taken to guarantee that patients with persistent physical problems receive top-notch mental healthcare in primary care if competing demands continue to hinder depression treatment. The American Psychological Association (APA) conducted a poll in 2021 and discovered that as a result of the pandemic, mental health problems are continuing to rise. In comparison to the previous year, there has also been a notable rise in the demand for therapies for depression and anxiety. Additionally, numerous new breakthroughs in antidepressants for the treatment of depression are being made in a variety of pharmacological classes, including antipsychotics, selective norepinephrine reuptake inhibitors (SNRIs), selective serotonin reuptake inhibitors (SSRIs), and others.
The market for therapies for mental health diseases like depression has seen a significant change recently. For the treatment of depression, numerous researchers and sponsors are creating novel medications and obtaining approvals for them in various countries. For instance, Alembic Pharmaceuticals' Desvenlafaxine ER 25 mg capsules were approved by the US FDA in September 2018. The recent influx of new product launches and medicine and therapy approvals has a beneficial impact on the market for treating depression.
Thus, owing to the aforementioned factors, the global depression treatment market is expected to grow at a CAGR of 5.10% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the depression treatment market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the depression treatment market and held a 38.2% share of the market revenue in 2022.
Global Depression Treatment Market - Country Analysis:
Germany's depression treatment market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. According to the Institute for Health Metrics and Evaluation, depression disorders are prevalent in Germany at a rate of 3.7%. Therefore, throughout the Projection period, the market expansion will be aided by the increased prevalence of depressive illnesses in Germany.
China’s depression treatment market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. The market is anticipated to grow in the next years as a result of rising healthcare costs and quickly advancing medical infrastructure. According to the Global Health Expenditure Database, more than 5,112 yuan will be spent on healthcare per person in 2020, up from over 4,669 yuan in 2019.
India's depression treatment market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. The prevalence of mental health issues is rising as a result of a number of reasons, including demographic changes, environmental conditions, and rising mental stress. The market for treating depression is growing better as a result of this.
Key Industry Players Analysis:
To increase their market position in the global depression treatment market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
5.10% |
Market Size |
10.1 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Indication, By Distribution Channel, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Jubilant Generics Limited, Torrent Pharmaceuticals, Abbott Laboratories, Sanis Health Inc., Aurobindo Pharma, Apotex Corporation, Teva Pharmaceuticals, Sun Pharmaceuticals, Cardinal Health, Alembic Pharmaceuticals Limited, Pfizer Inc., Zydus Lifesciences, Hikma Pharmaceuticals, Cipla Ltd, Merck & Co., Dr. Reddy's Laboratories, BrainsWay Ltd., Eli Lily & Co, Takeda Pharmaceuticals, Magstim Ltd., Nexstim Plc, Neuronetics, Inc., Salience TMS Neuro Solutions, MAG & More GmbH, and Neurosoft, Ltd. |
By Product |
|
By Indication |
|
By Distribution Channel |
|
Regional scope |
|
Scope of the Report
Global Depression Treatment Market By Product:
Global Depression Treatment Market By Indication:
Global Depression Treatment Market By Distribution Channel:
Global Depression Treatment Market By Region:
Global depression treatment market is expected to reach USD 15.0 billion by 2030.
The depression treatment market is projected to have a CAGR of 5.10%.
Leading market players active in the global depression treatment market are GlaxoSmithKline plc, Merck & Co., Inc., Takeda Pharmaceutical Company Limited, AstraZeneca Plc, Johnson & Johnson, Eli Lilly and Company, Sanofi S.A., Allergan plc, Pfizer, Inc., H. Lundbeck A/S, and Alkermes. among other
Innovative depression medications are being launched on the market after receiving regulatory approval from important market participants. Over the course of the Projection period, the market expansion is anticipated to be driven by the approval and launch of novel medications indicated for the treatment of various forms of depression.
Based on the indication, the global depression treatment market has been segmented into major depressive disorder, phobia, obsessive-compulsive disorder, and others.
Political Factors- depression treatment market should carefully evaluate the taxation policies that are relevant to the industry before deciding whether to expand. Industries that are high priorities for the government will benefit more from tax policy. Many developing nations' governments currently want to cut business taxes in an effort to draw in foreign direct investment. Due to the low tax rates, depression treatment market should take into account these nations as it will be simpler to turn a profit and spend in R&D, innovation, and new product development.
Economic Factors- The effectiveness of the financial markets has an impact on the depression treatment market worldwide.'s expansion strategies since operating in highly efficient financial markets improves one's liquidity position and strengthens one's capacity to join new markets. The ability of depression treatment market. to raise the capital at reasonable prices would depend on the state and effectiveness of the financial markets. The current economic structure has an impact on how the depression treatment market. does business. A monopolistic or oligopolistic structure will have a different economic and regulatory climate than one with perfect or monopolistic competition.
Social Factors- Respect for hierarchy and social class stratification are two significant social characteristics that might affect depression treatment market's commercial, marketing, and human resource management initiatives. When entering nations with high power distance, depression treatment market does well with a hierarchical organisation and formal work culture. The requirement for efficient market segmentation techniques is also indicated by increased social stratification because depression treatment market cannot target several categories from various social classes using the same marketing mix.
Technological Factors- The use of cutting-edge marketing strategies to improve customer collaboration has been facilitated by the growth of information and communication technologies. Social media usage has become widespread in today's business climate. depression treatment market. can take use of the chances provided by social media marketing to boost company performance. Initiating creative social media campaigns for building online brand communities can be done using technological developments. By entering markets where technology is still in its infancy and concentrating on new technological developments, the bioinformatics services sector can grow its market share.
Environmental Factors- The development of renewable technology to lessen reliance on natural resources has become a strong trend in many industries. To capitalise on this environmental trend, depression treatment market should assess how well a nation's technology infrastructure supports the usage of renewable technologies. Governments in certain parts of the world provide enticing incentives for the use of renewable energy sources. By utilising the opportunity, depression treatment market can invest in renewable energy sources to meet its goals for sustainable economic development.
Legal Factors- The privacy and security concerns of consumers have made data protection a crucial issue. To protect consumer data, depression treatment market. must research data protection laws. Laws are also in place to limit prices, guarantee a particular level of quality, and shield customers from deceptive marketing promises. To guarantee compliance with consumer protection legislation, depression treatment market. must take certain aspects into account. Regulations governing intellectual property are intended to safeguard businesses' valuable ideas and patents. If intellectual property rights are not adequately protected, depression treatment market. may lose its competitive edge and become less competitive with other market competitors.
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