NEWARK, Del, Dec. 16, 2022 (GLOBE NEWSWIRE) -- The global Treatment-Resistant Depression Therapeutics Market is experiencing rapid growth as the prevalence of depression and anxiety disorders amongst adults continues to rise, compounded by an aging population. By 2033 it's projected to reach US$4.0 Billion in accumulated value due entirely new treatments being developed through innovative routes such as nasal inhalants or direct intravenous administration - offering relief where traditional methods have failed previously.
Despite the common use of traditional antidepressants to treat depression, they often require up to six weeks in order for patients to see an effect. However, new research has found that administering antidepressant medication through intranasal means can produce better results more quickly - within a mere 24 hours! This was showcased by Novartis Pharmaceuticals' upcoming pipeline antidepressant MIJ821 and published in January 2022's edition of Pharmacopsychiatry magazine; where clinical trials saw participants demonstrate significant reductions in depressive episodes after only one day..
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In addition, the overall findings displayed that treatment with intranasal esketamine in amalgamation with a novel oral antidepressant was more efficient than a placebo plus an oral administration. The intranasal esketamine showcased a prompt drop of depressive symptoms and postponed its relapse time. Furthermore, such increasing research & development for advanced drugs through other routes of administration is projected to surge the demand for drugs, thereby augmenting the overall market growth.
As per the World Health Organization (WHO), prevalence of mental health disorders as well as 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 U.S. Department of Health and Human Services (HHS), in 2020, among adolescents between ages 12 and 17, 17.0% (about 4.1 million population) had major depressive episode (MDE), and 12% (about 2.9 million people) had MDE with severe impairment.
Key Takeaways from the Market Study
- Global Treatment-Resistant Depression Therapeutics market was valued at US$ 1.55 Billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 3.3%
- By drug type, the NMDA segment of the market constitutes the bulk of the market with a market share of 49%
- By Distribution Channel, the Hospital Pharmacies segment dominates the market with a share of 47%
- From 2023 to 2033, Treatment-Resistant Depression Therapeutics sales are expected to flourish at a CAGR of 9.0%.
- By 2033, the market value of Treatment-Resistant Depression Therapeutics is expected to reach US$ 4.0 Billion
“The rising geriatric population is one of the factors that is anticipated to boost the growth of treatment-resistance depression treatment market, as the treatment-resistance depression treatment is high in this age group population,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the Treatment-Resistant Depression Therapeutics market are Janssen Global Services, LLC, AbbVie Inc., Sandoz International GmbH (Novartis AG), H. Lundbeck A/S, Par Pharmaceutical (Endo International plc), Otsuka Pharmaceutical Co., Ltd., and AstraZeneca, among others.
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Recent Developments:
- In August 2022, Merck Sharp & Dohme LLC initiated Phase IIa clinical trial to evaluate the safety and efficacy of MK-1942 among treatment-resistant depression patients.
- In July 2022, Novartis Pharmaceuticals announced that it would initiate a Phase 2 clinical trial of MIJ821 (ketamine) for treatment-resistant depressive disorders in September 2022.
- In May 2022, COMPASS Pathways presented positive data for Phase IIb study of COMP360 psilocybin therapy for Treatment-Resistant Depression Therapeutics at the American Psychiatric Association annual meeting in New Orleans.
- In February 2022, Denova Biopharma secured U.S. FDA approval to initiate a Phase 2b clinical trial to analyze the efficacy and safety of DB104 (liafensine) in patients with treatment-resistant mood disorder.
Know More About What the Treatment-Resistant Depression Therapeutics Market Repost Covers
Future Market Insights offers an unbiased analysis of the global Treatment-Resistant Depression Therapeutics market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Treatment-Resistant Depression Therapeutics market, the market is segmented on the basis of drug type, and distribution channel across five major regions.
Key Segments Covered in the Treatment-Resistant Depression Therapeutics Industry Analysis
Treatment-Resistant Depression Therapeutics Market by Drug Type:
- NMDA
- Antidepressants
- Antipsychotics
- Others
Treatment-Resistant Depression Therapeutics Market by Distribution Channel:
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
Treatment-Resistant Depression Therapeutics Market by Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
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About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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