Major Depressive Disorder (MDD) is a common and serious medical illness that negatively affects how you feel, the way you think and how you act. MDD causes feelings of sadness and/or a loss of interest in activities once enjoyed. It can lead to a variety of emotional and physical problems and can decrease a person's ability to function at work and at home. The major depressive disorder treatment market consists of antidepressant medications, psychotherapy, electroconvulsive therapy, and others that provide relief from the symptoms. Antidepressant medications work to balance certain chemicals in the brain called neurotransmitters that are believed to play a role in depression. Some of the commonly prescribed antidepressants include selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), and others. These drugs are often effective at relieving symptoms such as feeling sad or empty, hopeless, anxious or worried, tired and lacking in energy, having trouble sleeping or concentrating, experiencing changes in appetite and weight.
The Global Major Depressive Disorder Treatment Market is estimated to be valued at US$ 13 billion in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024
Key Takeaways
Key players operating in the major depressive disorder treatment are Pfizer, Eli Lilly and Company, Otsuka Pharmaceutical Co., AstraZeneca, Allergan, H. Lundbeck, Takeda Pharmaceutical Company Limited, Alkermes, CXCR4 Inhibitors, Neurocrine Biosciences.
Major opportunities in the market include geriatric population suffering from depression, increasing awareness about depression treatment and care, pipeline drugs with novel mechanisms of action and favorable government policies regarding mental health.
Key players are focusing on geographical expansion into emerging markets through acquisitions and collaborations. Major Depressive Disorder Treatment Market Growth are entering into strategic collaborations with regional players to expand their geographic footprint and strengthen their product portfolio. For instance, in 2021, Eli Lilly and Company acquired Prevail Therapeutics to accelerate its pipeline of gene therapy programs for patients with neurodegenerative diseases.
Market Drivers
Increasing prevalence of depression owing to changing lifestyle and rising stress levels is a major market driver. According to WHO, over 264 million people are suffering from depression globally. Furthermore, strong product pipeline with novel mechanisms of action and rising awareness are further propelling the market growth.
Market Restraints
However, social stigma related to mental illnesses and underdiagnoses of depression hampers the Major Depressive Disorder Treatment Market Size and Trends. Further, high treatment costs and risk of drug resistance with long term therapy also restrains the market up to certain extent.
Segment Analysis
This market can be segmented based on drug type, distribution channel and region. Based on drug type, the antidepressants sub segment holds the largest share as these are the first line of treatment for major depressive disorder. Antidepressants help balance certain chemicals in the brain called neurotransmitters that are linked to mood regulation. Some of the commonly prescribed antidepressants include selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), norepinephrine and dopamine reuptake inhibitors (NDRIs) and others.
The hospitals distribution channel sub segment dominates the market due to increasing patient pool opting for treatment in hospitals. Hospitals offer round-the-clock care, are better equipped to handle emergencies and severe cases of depression. Moreover, the diagnosis and management carried out by psychiatrists and mental health experts present in hospitals help in effective treatment of the condition.
Global Analysis
The North America region holds the largest share in the major depressive disorder treatment market owing to high prevalence of depression, rapidly increasing geriatric population, strong healthcare infrastructure and support. As per WHO estimates, over 16 million adults aged 18 years or older in the United States had at least one major depressive episode in 2016. Furthermore, the Asia Pacific region is poised to grow at the fastest rate during the forecast period due to improving healthcare facilities, increasing awareness and reducing stigma associated with mental illness. Improving reimbursement policies for psychiatric medications and growing focus of manufacturers on emerging Asian markets will further support market growth in Asia Pacific.
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