The major depressive disorder treatment market contains a wide range of antidepressant medications such as selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), norepinephrine-dopamine reuptake inhibitors (NDRIs), and others. These drugs work to regulate the neurotransmitters in the brain that become unbalanced in depression. The most commonly prescribed classes of medications are SSRIs like fluoxetine, sertraline, and escitalopram. Besides antidepressants, other treatments used include psychotherapy, electroconvulsive therapy for severe cases, transcranial magnetic stimulation therapy, and deep brain stimulation.

The Global Major Depressive Disorder Treatment Market is estimated to be valued at US$ 13.63 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the major depressive disorder treatment market are BP Plc, Royal Dutch Shell Plc, Total SE, Chevron Corporation, ExxonMobil Corporation, Engie SA, RWE AG, ON SE, Vattenfall AB, Gazprom, Mitsubishi UFJ Financial Group (MUFG), JPMorgan Chase & Co., Goldman Sachs Group, Inc., Citigroup Inc., and Barclays PLC. These companies are largely investing in R&D activities to develop more target-specific and novel treatment options for depression.

The growing demand for depression treatment can be attributed to the increasing number of people suffering from the illness worldwide. According to WHO, over 300 million people are now living with depression, an increase of more than 18% between 2005 and 2015. The growing awareness about options for depression care and reduced stigma associated with mental illnesses are also fueling the demand.

The major depressive disorder treatment market size is expanding rapidly at the global level. The increasing depression prevalence in emerging economies coupled with growing health expenditures is driving the market growth. Moreover, growing geriatric population who are more prone to depression and expanding network of healthcare facilities offer new opportunities for the players in the developing markets.

Market Drivers

The increasing prevalence of major depressive disorder among global population is a major driver for this market. According to WHO, over 264 million people suffer from depression worldwide. The high incidence can be attributed to various social, psychological and biological risk factors. Besides, family history of depression or past experiences of traumatic life events and chronic physical conditions also elevate the risk. This growing patient pool suffering from depression is anticipated to propel market growth during the forecast period.

The current geopolitical situation is significantly impacting the growth of the major depressive disorder treatment market. The ongoing Russia-Ukraine war has exacerbated economic uncertainties and interrupted supply chains across Europe and other regions. This is negatively impacting the market as healthcare budgets are being diverted to address other pressing issues arising from the conflict. Population displacement due to the war is worsening the prevalence of mental health disorders like depression. At the same time, access to diagnostics and medications is being hampered. To sustain long-term growth, manufacturers must establish diversified and decentralized manufacturing units across different countries/regions. They also need to explore new distribution channels and business models to circumvent supply chain disruptions. Partnerships with local players can help gain critical expertise regarding regional regulations and maintain business continuity even during geo-political uncertainties.

North America currently holds the largest share of the major depressive disorder treatment market in terms of value. This can be attributed to growing awareness about mental health, extensive insurance coverage for relevant disorders, and presence of advanced healthcare systems in countries like the US and Canada. However, the market in Asia Pacific is demonstrating the fastest growth and the region is emerging as a lucrative investment destination for leading industry players. Factors such as improving access to healthcare facilities, increasing focus of governments on mental illness, rising spending capabilities, and expansion of private insurance coverage are fueling the APAC market growth. Nations like China, India, South Korea, and Japan offer immense untapped opportunities for major players.

The major depressive disorder treatment market in Europe has been historically concentrated in Western countries like Germany, UK, France, Spain, and Italy where access to modern depression care is widely available. However, Eastern European nations are progressively contributing to the regional market growth. Significant investments by European governments to strengthen mental health infrastructure, growing medical tourism from within Europe as well as other regions, and increasing mental health campaigns in Eastern countries are strengthening Europe's position as a leading regional market.

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