Pune India, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the depression treatment market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the depression treatment market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, indication, distribution channel, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating 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. To achieve a substantial market share in the worldwide depression treatment market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The World Health Organization estimated that 350 million individuals worldwide suffered from depression in 2012, and this number is anticipated to rise as more people embrace sedentary lifestyles. The need for novel drugs to treat depression has increased because it is the second-leading cause of impairments worldwide. Antidepressants are in greater demand because of their low risk of side effects and rising consumer awareness, which both contribute to the growth. The market for treating anxiety disorders and depression, however, is anticipated to develop slowly over the next few years due to the patent expiration of the majority of pharmaceuticals, as well as the rising rate of drug withdrawals and the widespread release of generic alternatives. Additionally, it is projected that the advantageous reimbursement policies for pharmaceuticals and therapies in developed nations, along with those countries' high success rates, will fuel development during the forecast period. Patients' preferences for medications have changed as a result of the high expense of using these devices and therapies, such as anesthesia and hospital stays.
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Scope of Depression Treatment Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Indication, Distribution Channel, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | unn Paper Company; Inteplast Group; Paradise Packaging; Navbharat Industries.; Seaman Paper Co.; Framarx; Handy Wacks, Inc; Asia Pulp & Paper (APP) Sinar Mas.; Oji Holdings Corporation.; NIPPON PAPER INDUSTRIES CO., LTD.; CGP Coating Innovation; Stora Enso Oyj; Sappi Europe SA; Verso Corporation; SUNPACK CORPORATION; UPM; Burgo Group Spa; Ballarpur Industries Limited.; JK Paper; Minerals Technologies Inc.; Grantham Manufacturing Ltd; EuroWaxPack; Charlotte Packaging Ltd.; THE GRIFF NETWORK; Military Spec Packaging; among other. |
Segmentation Analysis
The TMS segment is expected to be the fastest-growing segment in 2022.
The product segment is TMS devices and drugs. The TMS segment is expected to witness the highest growth rate during the forecast period. When other forms of treatment for depression have failed, TMS machines are routinely utilised. The most effective way to treat depression is by giving patients antidepressant-like drugs because doing so boosts treatment effectiveness while lowering the likelihood of clinically significant side effects.
The major depressive disorder segment is expected to be the fastest-growing segment in 2022.
The indication segment is major depressive disorder, phobia, obsessive-compulsive disorder, and others. The major depressive disorder segment is expected to witness the highest growth rate during the forecast period. Rising prevalence, research studies, and the introduction of new products are all expected to spur market expansion throughout the forecast period. There have been several published research studies on the market under investigation. For example, the February 2022 article "Severe Depressive Disorder and Addiction" reported that nearly 17 million adults in the United States alone had at least one major depressive episode. Suicidal thoughts, a persistently depressed mood, anhedonia (loss of interest in pleasure activities), feelings of guilt or worthlessness, lack of energy, trouble concentrating, changes in appetite, agitation, psychomotor retardation, or sleep difficulties are all signs of depression.
The hospitals segment is expected to be the fastest-growing segment in 2022.
The distribution channel segment is e-commerce, hospitals, specialty clinics, retail pharmacies, and drug stores. The hospitals segment is expected to witness the highest growth rate during the forecast period. 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.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the depression treatment include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. From August to December 2020, the average anxiety severity scores increased 13%. The percentage of adults who reported recent symptoms of anxiety or a depressive condition grew from 36.4% to 41.5% between August 2020 and February 2021, while the number of people who said they needed unmet mental health care climbed from 9.2% to 11.7%. Adults with less than a high school diploma and those aged 18 to 29 saw the highest increases. Similar to the United States, Canada reported in June 2021 that claims for prescriptions used to treat depression climbed by 10% for adults and 22% for their dependents in 2020. The study was titled "Mental-health, specialty medications increasing drug prices in 2020."
Country Analysis
- Germany
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 2030The Institute for Health Metrics and Evaluation estimates that 3.7% of Germans suffer from depression disorders. As a result, the market will continue to expand over the forecast period as depressed diseases become more common in Germany.
- China
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 Due to the rapidly expanding medical infrastructure and rising healthcare costs, it is projected that the industry will expand in the next years. Over 5,112 yuan, up from over 4,669 yuan in 2019, would be spent on healthcare per person in 2020, according to the Global Health Expenditure Database.
- India
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. Numerous factors, such as demographic changes, environmental factors, and increasing mental stress, are contributing to the rise in mental health concerns. As a result, the market for treating depression is expanding more favorably.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the depression treatment market is mainly driven by the hectic lifestyle.
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