The global depression treatment market is set to exceed USD 10.1 Billion in 2022, and expand at a CAGR of 5.2% to reach USD 16.8 Billion by 2032. According to a recent study, drugs are the leading segment in terms of products and accounted for over 99.4% of the demand share in 2021.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Depression Treatment Market Value 2021 | USD 9.7 Billion |
| Market Value 2022 | USD 10.1 Billion |
| Market Value 2032 | USD 16.8 Billion |
| CAGR 2022 to 2032 | 5.2% |
| Market Share of Top 5 Countries | 58.9% |
The depression treatment market holds approximately 7.6% of the global behavioral health market worth USD 128.2 Billion in 2021.
According to World Health Organization (WHO), the prevalence of mental health disorders and conditions is increasing across the globe. There has been a 13% increase in mental health conditions and other depressive disorders in the last decade.
According to the USA Department of Health and Human Services (HHS), in 2020, among adolescents between ages 12 and 17, 17.0% (about 4.1 million population) had a major depressive episode (MDE), and 12% (about 2.9 million people) had MDE with severe impairment.
Several factors such as demographic changes, environmental conditions, and increasing mental stress are resulting in rising mental health disorders. This is improving the growth in the depression treatment market.
According to Future Market Insights (FMI), companies operating in the global depression treatment market are actively seeking to strengthen their position through mergers with established as well as emerging market players. For instance, in November 2020, Mylan completed a merger with Upjohn to form Viatris Company.
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As per FMI, the overall sales of depression treatment expanded at a CAGR of 3.4% from 2012 to 2021 owing to the increase in the prevalence of depression and anxiety disorders. Growth is also contributed to the growing need for antidepressants and therapies to treat mental conditions during the forecast period (2022 to 2032).
Depression treatments during a medical visit are time-consuming, and it is essential that people get treatment on time for depression. If conflicting demands continue to obstruct depression treatment, initiatives must ensure that patients with chronic physical difficulties receive high-quality mental healthcare in primary care.
According to a survey by the American Psychological Association (APA) in 2021, due to the pandemic, mental health issues are continuing to surge. Also, there has been a significant increase in demand for treatments for anxiety and depression compared to the last year.
Further, several new developments in antidepressants in the treatment of depression are being carried out in different drug classes, such as selective serotonin reuptake inhibitors (SSRIs), selective norepinephrine reuptake inhibitors (SNRIs), antipsychotics, and others.
Recently, there has been a major shift in the market for depression disorders and other mental health disorder treatments. Numerous researchers and sponsors are developing novel drugs for the treatment of depression and getting approvals for them in different regions.
For instance, In September 2018, Alembic Pharmaceuticals received USA FDA approval for its Desvenlafaxine ER capsules, 25 mg. A slew of these product launches and approvals of novel drugs and therapies in recent years is affecting the depression treatment market positively.
On the back of these aforementioned factors, sales in the depression treatment market are expected to increase at a CAGR of 5.2% from 2022 to 2032 globally.
Governments are trying to increase the funding for mental health services and the treatment of mental illness and depression disorders.
The need for good quality treatments, affordable healthcare policies, funding of government organizations, and interventions of healthcare organizations for mental health disorders treatments are some of the factors boosting the market.
Rising demand for improved brain and mental fitness is opening up new avenues for depression treatments since they improve glucose metabolism in the brain and lower the risk of mental disorders.
Improving healthcare infrastructure and increasing medical expenditure by the governments will support the development of expensive drugs and expensive medical devices. Hence, the demand for depression treatment is expected to further increase over the next few years.
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The non-availability and the limited number of such well-trained specialists can create an adverse impact on the treatment of patients with depression. Due to these factors, the quality of services can get affected, hampering the growth of the depression treatment market.
The release of generic equivalents to drugs used in the treatment of depression will soon provide the impetus for great total market expansion, resulting in a variety of low-cost prescription options for consumers.
As pharmaceutical companies lose their patent protection, certain products will face generic competition for the first time. The companies that designed the original products will face more competition due to this. Thus, patent expiry problems will hinder the growth of the depression treatment market.
For instance, Lexapro, which is used in the treatment of anxiety and depression, had a patent issue that expired on March 14, 2012.
There is a social stigma associated with depression and other mental diseases. Self-stigmatization makes patients feel ashamed and isolated, and it may hinder them from receiving effective therapy. It could also potentially lead to somatization. difficulty to comprehend for those who have never experienced it can be mistaken as a sign of weakness.
Prevalence of Major Depressive Episodes (MDE) in the USA will Create Growth Prospects for Depression Treatment Market
The USA dominated the North American depression treatment market with a total share of about 92.8% in 2021 and is expected to experience the same growth throughout the forecast period owing to the rise in the prevalence of depressive disorders in the region.
According to the USA Department of Health and Human Services (HHS), in 2020, among adolescents between ages 12 and 17, 17% (about 4.1 million population) had a major depressive episode (MDE), and 12% (about 2.9 million people) had a major depressive episode with severe impairment.
Federal rules on drug launches and the availability of numerous branded formulations have a significant impact on market dynamics.
Increasing Number of Depressive Disorders in Germany will Drive the Demand for Depression Treatment
According to FMI, Germany is set to exhibit a lucrative CAGR of 5.3% in the Europe depression treatment market during the forecast period (2022 to 2032).
As per the Institute for Health Metrics and Evaluation, Germany is having 3.7% of prevalence rate for depression disorders. Hence, the rising prevalence of depressive disorders in Germany will boost the market growth during the forecast period.
Improved Medical Infrastructure in China to Augment the Growth in Depression Treatment Market
China held a 43.4% market share in the East Asia depression treatment market in 2021 and is projected to increase at a CAGR rate of 4.8% during the forecast period. Growth is associated with rising healthcare costs and rapidly improving medical infrastructure is expected to drive the market during the forecast years.
According to Global Health Expenditure Database, the level of per capita health spending in 2020 is expected to be over 5,112 yuan, up from roughly 4,669 yuan the previous year.
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Drugs Contribute Over 99.4% of the Depression Treatment Market Sales
Based on products, the drugs segment will project a lucrative growth at a CAGR of 5.2% until 2032, with a market share of around 99.4% in 2021. Drugs are used as the first line of treatment during a depression treatment regime.
As compared to devices, drugs have a higher adoption rate and are cost-effective. TMS devices are commonly employed when other depression therapies have failed. In addition, the administration of drugs, which acts as antidepressants, improves the effectiveness of the treatment of depression without increasing the risk of clinically significant safety events, which makes it the most lucrative in depression treatment.
Rising Prevalence of Major Depression Episodes to Improve Depression Treatment Market Growth
Major depression held a revenue share of 53.5% in 2021 with a CAGR rate of 5.3%. The high market share is because major depression is highly being observed in the population over the world, which includes the symptoms such as anxiety, stress, mental illness, and others.
The high prevalence of major depression in the world is expected to contribute to enhancing market growth from 2022 to 2032.
Hospitals, in terms of distribution channels, led the depression treatment market with a 25.8% market share in 2021. During depression treatment, patients prefer to be admitted to the hospital to seek treatment.
The availability of highly skilled medical professionals that provide better treatment experience also contributed to the high market share during the coming years.
Key players in the depression treatment market are focusing their efforts on acquisitions and expansion to move on with the development of a unique, first-in-class asset for the treatment of cognitive impairment caused by neuropsychiatric and neurodegenerative illnesses.
Given below are a few examples of the key strategies followed by the manufacturers:
| Attribute | Details |
|---|---|
| Forecast Period | 2012 to 2021 |
| Historical Data Available for | 2022 to 2032 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC countries, Turkey, South Africa, and North Africa. |
| Key Market Segments Covered | Products, Diseases, Distribution Channels, and Regions |
| Key Companies Profiled | Viatris (Mylan Pharmaceuticals Inc.); Sunovian Pharmaceuticals; AbbVie Inc. (Allergan, Inc.); Jubilant Generics Limited; Sanis Health Inc.; Abbott Laboratories; Aurobindo Pharma; Torrent Pharmaceuticals; Teva Pharmaceuticals; Sun Pharmaceuticals; (Apotex Holdings, Inc.) Apotex Corporation; Alembic Pharmaceuticals Limited; Pfizer Inc.; Cardinal Health; Hikma Pharmaceuticals; Zydus Lifesciences (Cadila); Cipla Ltd; Dr. Reddy's Laboratories; Merck & Co.; Eli Lily & Co; GlaxoSmithKline; Takeda Pharmaceuticals; BrainsWay Ltd.; Nexstim Plc; Magstim Ltd.; Neuronetics, Inc.; Salience TMS Neuro Solutions; MagVenture; MAG & More GmbH; Neurosoft, Ltd. |
| Pricing | Available upon Request |
The global depression treatment market was worth USD 9.7 Billion in 2021 and is set to expand 1.7X over the next ten years.
The depression treatment market is expected to reach USD 16.8 Billion by the end of 2032, with sales revenue expected to register a growth of 5.2% CAGR.
Adoption of different key strategies by market players and mergers and acquisitions by manufacturers are some of the key trends in the depression treatment market.
The USA, Germany, UK, India and China are expected to drive demand for the depression treatment industry.
North America is of the leading depression treatment market, with a market share of 40.3% in 2021 in the global market.
Demand for depression treatment in Europe is expected to register a growth of 5.2% CAGR over the next ten years.
From 2012 to 2021, the market for depression treatment expanded at the rate of 3.4%.
BrainsWay Ltd., Neuronetics, Inc., and Novartis are the Top 3 key players in the depression treatment market.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Demand (in Value or Size in USD Million) Analysis (2012 to 2021) and Forecast (2022 to 2032) 7. Global Market Analysis (2012 to 2021) and Forecast (2022 to 2032), by Product Type 7.1. Drugs 7.1.1. Selective Serotonin Reuptake Inhibitors (SSRIs) 7.1.1.1. Citalopram 7.1.1.2. Escitalopram 7.1.1.3. Fluoxetine 7.1.1.4. Fluvoxamine 7.1.1.5. Paroxetine 7.1.1.6. Sertraline 7.1.2. Selective Norepinephrine Reuptake Inhibitors (SNRIs) 7.1.2.1. Desvenlafaxine succinate 7.1.2.2. Duloxetine 7.1.2.3. Levomilnacipran 7.1.2.4. Venlafaxine 7.1.3. Bupropion 7.1.4. Mirtazapine 7.1.5. Monoamine Oxidase Inhibitors (MAOIs) 7.1.5.1. Phenelzine 7.1.5.2. Tranylcypromine 7.1.6. Antipsychotics 7.1.6.1. Lithium carbonate 7.1.6.2. Aripiprazole 7.1.6.3. Brexipiprazole 7.1.6.4. Quetiapine 7.1.7. Trazodone 7.1.8. Others 7.2. TMS Devices 7.2.1. rTMS Devices 7.2.2. dTMS Devices 8. Global Market Analysis (2012 to 2021) and Forecast (2022 to 2032), by Disease Type 8.1. Major Depression 8.2. Persistent Depressive Disorder 8.3. Bipolar Disorder 8.4. Seasonal Affective Disorder (SAD) 8.5. Postpartum Depression 8.6. Premenstrual Dysphoric Disorder (PDD) 8.7. Situational Depression 8.8. Atypical Depression 8.9. Treatment-Resistant Depression 9. Global Market Analysis (2012 to 2021) and Forecast (2022 to 2032), by Distribution Channel 9.1. Hospitals 9.2. Retail Pharmacies 9.3. Drug Stores 9.4. e-commerce 9.5. Specialty Clinics 10. Global Market Analysis (2012 to 2021) and Forecast (2022 to 2032), by Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia 10.6. Oceania 10.7. Middle East and Africa (MEA) 11. North America Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 12. Latin America Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 13. Europe Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 14. South Asia Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 15. East Asia Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 16. Oceania Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 17. Middle East and Africa (MEA) Market Analysis (2012 to 2021) and Forecast (2022 to 2032) 18. Market Structure Analysis 19. Competition Analysis 19.1. Viatris (Mylan Pharmaceuticals Inc.) 19.2. Sunovian Pharmaceuticals 19.3. AbbVie Inc (Allergan, Inc.) 19.4. Jubilant Generics Limited 19.5. Sanis Health Inc 19.6. Abbott Laboratories 19.7. Aurobindo Pharma 19.8. Torrent Pharmaceuticals 19.9. Teva Pharmaceuticals 19.10. Sun Pharmaceuticals 19.11. Apotex Corporation (Apotex Holdings, Inc.) 19.12. Alembic Pharmaceuticals Limited 19.13. Pfizer Inc 19.14. Cardinal Health 19.15. Hikma Pharmaceuticals 19.16. Zydus Lifesciences (Cadila) 19.17. Cipla Ltd 19.18. Dr. Reddy's Laboratories 19.19. Merck & Co. 19.20. Eli Lilly & Co 19.21. GlaxoSmithKline 19.22. Takeda Pharmaceuticals 19.23. BrainsWay Ltd. 19.24. Nexstim Plc 19.25. Magstim Ltd. 19.26. Neuronetics, Inc. 19.27. Salience TMS Neuro Solutions 19.28. MagVenture 19.29. MAG & More GmbH 19.30. Neurosoft, Ltd. 20. Assumptions and Acronyms Used 21. Research Methodology
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Depression Treatment Market
