With 9.0% CAGR, Treatment-Resistant Depression Treatment Market Size Worth USD 2.83 Billion by 2029
As per the report by Fortune Business Insights, the global treatment-resistant depression treatment market Size is projected to reach USD 2.83 billion in 2029, at a CAGR of 9.0% during the forecast period, 2022-2029
/EIN News/ -- Pune, India, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The global treatment-resistant depression treatment market size was valued at USD 1.52 billion in 2021. The market is projected to grow from USD 1.55 billion in 2022 to USD 2.83 billion by 2029, exhibiting a CAGR of 9.0% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Treatment-Resistant Depression Treatment Market, 2022-2029.”
Key Industry Development:
August 2021 - Axsome Therapeutics, Inc. declared positive results of the MERIT Phase II trial for AXS-05. The results substantially prohibited the relapse of depressive symptoms in patients with treatment-resistant depression.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 9.0% |
| 2029 Value Projection | USD 2.83 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 1.55 Billion |
| Historical Data for | 2018 to 2010 |
| No. of Pages | 120 |
Drivers and Restraints:
Growing Prevalence of TRD Worldwide to Drive Market Growth
One of the most important factors contributing to the treatment-resistant depression treatment market growth is the rise in the prevalence of this behavioral illness. TRD happens when a person hasn't reacted to two separate antidepressant or haven’t taken for a sufficient amount of time, typically six weeks. The demand for the disease's therapy has increased as this medical condition's prevalence has climbed.
In addition to placing a tremendous burden on social and healthcare resources, the prevalence is linked to disproportionate healthcare costs that have large direct and indirect costs.
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COVID-19 Impacts:
COVID-19 Positively Impacted Market Revenue due to Rising Incidence of Depression
A notable increase in demand for the healthcare system has been brought on by the coronavirus pandemic. The rise of COVID-19 cases has sparked concerns about a variety of psychiatric issues on a global scale. These days, there has been a noticeable rise in the number of patients receiving therapy for treatment-resistant depression, which can be attributed to both the increased prevalence of this condition during the lockdown and the elevated risk of patient suicide. The pandemic has also expanded awareness and lowered the stigma associated with mental health therapy, which has increased demand for the treatment-resistant depression treatment.
Regional Insights:
North America to Lead Backed by Increased Patient Populace
With a USD 0.79 billion in sales in 2021, North America dominated the market, and it is expected that this dominance will persist throughout the projected period. The rise in patients with treatment-resistant depressive disorders resulted in the market expansion.
In 2021, Europe had the second-highest treatment-resistant depression treatment market share; throughout the forecast period, it is anticipated to grow at a significant CAGR. During the projected timeframe, it is anticipated that the large R&D expenditure and growing focus of market participants to offer new pharmaceuticals in the region will surge the need for treatment.
During the forecast period, the market in Asia Pacific is anticipated to grow at a moderate CAGR. The expanding awareness of this mood disorder's therapy and its rising prevalence are driving the CAGR of the regional market.
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Segments:
NMDA to Expand at Highest CAGR due to Launches of Pipeline Drugs During the Forecast Period
Based on drug type, the market is segmented into NMDA, antidepressants, antipsychotics, and others.
The antidepressants segment is projected to expand at a moderate growth rate during the forecast period.
Hospital Pharmacies to Continue Its Dominance Owing to Increased Patient-visit to Hospitals
Based on distribution channel, the market is categorized into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies.
In 2021, the hospital pharmacies segment held the largest market share and is expected to expand at a substantial CAGR during the forecast period, 2022-2029.
Geographically, the market is segregated into North America, Europe, Asia Pacific, and the rest of the world.
Segments-
| Segmentation |
By Drug Type
|
By Distribution Channel
| |
By Geography
|
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Report Coverage:
In order to determine immediate investment advantages, the report includes a comprehensive analysis of the market, together with current trends and future expectations. The report also includes a thorough examination of any potential possibilities, dangers, rivalries, or driving forces. A complete, step-by-step study of the region is provided. To make it easier for investors and company owners to comprehend the concerns, the COVID-19 impacts have been incorporated to the report. The research identifies the leading market participants and details their growth-promoting strategies.
Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Important treatment-resistant depression treatment players frequently announce significant business decisions, which have a favorable or negative impact on the market. Players buy businesses, introduce products, enter into collaboration agreements, agree to terms with governmental bodies, and so forth.
List of Key Players Mentioned in the Report:
- Eli Lilly and Company (U.S.)
- GlaxoSmithKline (U.K.)
- Pfizer Inc. (U.S.)
- Janssen Global Services, LLC (Johnson & Johnson Services, Inc.) (Belgium)
- AbbVie Inc. (U.S.)
- AstraZeneca (U.K.)
- H. Lundbeck A/S (Denmark)
- Sandoz International GmbH (Novartis AG) (Germany)
- Par Pharmaceutical (Endo International plc) (India)
- Otsuka Pharmaceutical Co., Ltd. (Otsuka Holdings Co., Ltd.) (Japan)
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Treatment-Resistant Depression, By Key Countries/Regions
- Overview of Current Advances in R&D for Antipsychotic Drugs
- Pipeline Analysis of Treatment-Resistant Depression Drugs
- Key Industry Developments
- Impact of COVID-19 on Market
- Global Treatment-Resistant Depression Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Type
- NMDA
- Antidepressants
- Antipsychotics
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Drug Type
- North America Treatment-Resistant Depression Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Type
- NMDA
- Antidepressants
- Antipsychotics
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Drug Type
- Europe Treatment-Resistant Depression Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Type
- NMDA
- Antidepressants
- Antipsychotics
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country/Sub-region
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Market Analysis, Insights and Forecast – By Drug Type
- Asia Pacific Treatment-Resistant Depression Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Type
- NMDA
- Antidepressants
- Antipsychotics
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Country/Sub-region
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Market Analysis, Insights and Forecast – By Drug Type
TOC Continued…..
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