According to a recent report by Emergent Research, the global depression treatment market is expected to be worth USD 16.06 billion by 2027. There is a demand for the market due to the rise in mental health and depression cases.
Only 36% of the 284 million patients with anxiety around the world seek therapy. This is substantially to blame for the decline in the number of prescriptions written for the treatment of anxiety disorders and depression, which has slowed market expansion. Antidepressants are not widely used because there is little public understanding of the prevention, diagnosis, treatment, and management of mental health issues. To increase market potential, however, market participants are actively releasing novel medications.
In contrast, the burden of the increasing incidence of psychological diseases and the demand for effective treatment of disorders linked to anxiety and depression are driving up sales of goods and clinical trials in the global market. Additionally, during the forecast period, the market expansion is anticipated to be accelerated by cooperative efforts between pharmaceutical firms, NGOs, mental health organizations, and government programs for raising public awareness. For instance, groups like the World Health Organization (WHO) and the Live, Love, Laugh Foundation have started mental health campaigns to raise awareness among people. The World Federation for Mental Health established World Mental Health Day in 1992, which is observed globally on October 10 each year.
Some Key Highlights from the Report :
Globally, patient care for mental health diseases is being enhanced through research and development. The number of therapy candidates in the pipeline for anxiety disorders and depression has increased as a result of innovative research that has resulted in combination therapies using novel or existing pharmacological molecules. For instance, in March 2020, Luye Pharma reported that the US Food and Medication Administration (FDA) accepted its new medicine application for LY03005, an antidepressant drug. Also, significant backing from government and international healthcare organizations for R&D financing is projected to help the establishment of different opportunities in the market for anxiety disorders and depression treatment. This is anticipated to accelerate market expansion, along with consumers’ growing demand for novel pharmaceuticals that are being introduced to the market.
Depressive illnesses have been treated using antipsychotic medications. The drug was chosen as a treatment for depressed individuals who had psychotic symptoms and was taken in conjunction with antidepressants. Antipsychotic medication was used to treat symptoms including hallucinations, delusions, or signs of psychosis. In addition, bipolar depression is treated using it.
Clinical depression, sometimes referred to as major depressive disorder (MDD), is an illness that affects both behavior and mood as well as physiological processes including food and sleep. It is one of the most prevalent mental health conditions, and studies indicate that over 7% of American adults were affected by it in 2017.
As the majority of depressed cases were identified when patients registered at a hospital for treatment, hospitals held the biggest percentage in 2019. Few people are conscious of their symptoms, so when things get a little out of hand, they go to hospitals to get treated. Additionally, there are particular wards and medical professionals for patients who experience depression while undergoing therapy.
Key participants include Pfizer, Inc., AstraZeneca, Plc, GlaxoSmithKline Plc, Eily, Lilly, and Company, Allergan Plc, Takeda Pharmaceutical Company Limited, Intellipharmaceutics International, Inc., Otsuka Holdings Co. Ltd., H.Lundbeck A/S, and Apotex, Inc., among others.
For this report, Emergen Research has segmented the global Depression Treatment Market based on drug type, application, end-user, distribution channel, and region:
Drug Type Outlook (Revenue, USD Billion; 2017-2027)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Selective Norepinephrine Reuptake Inhibitors (SNRIs)
- Serotonin Modulators
- Tricyclic & Tetracyclic Antidepressants
- Atypical Antidepressants
Application Outlook (Revenue, USD Billion; 2017-2027)
- Major Depressive Disorder (MDD)
- Bipolar Disorder
- Postpartum Depression
- Premenstrual Dysphoric Disorder (PMDD)
- Dysthymic Disorder
- Seasonal Affective Disorder (SAD)
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Mental Health Centers
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals Pharmacies
- Retail Pharmacies
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- the U.S.
- the UK
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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