The global anxiety disorders and depression treatment market size USD 8.78 Bn in 2022 and is estimated to reach around USD 10.77 Bn by 2031, expanding at a CAGR of 2.3% during the forecast period, 2023-2031. The growth of the market is attributed to the rising prevalence of anxiety disorder and depression globally.
Anxiety disorders and depression are two of the most common mental illnesses. They are less obvious than schizophrenia and bipolar disease; yet, they are just as debilitating. The first study took place around 26 years ago by the Epidemiological Catchments Area research program to reveal the extent of their presence.
Furthermore, these illnesses have garnered more attention in recent years as a result of their widespread incidence and they are now considered just as important as other syndromes such as mood and psychotic disorders. The primary assessor and treatment provider is the primary care physician. Thus, the market for anxiety disorder and depression treatment is predicted to rise as primary healthcare infrastructure all around the world in the coming years.
According to a survey conducted by Boston University in September 2020, the COVID-19 pandemic had caused half of the adults to show indicators of depression such as thoughts of hopelessness and failure across the globe especially in the US. However, the overall anxiety and depression therapy market has suffered revenue shrinking due to the pandemic. Global lockdowns imposed by government all around the world resulted in factory shutdown and further impacted to the reduction in medication & device production.
Anxiety Disorders and Depression Treatment Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness regarding the anxiety disorder treatments as well as rising availability of specialized doctors and physicians for the treatment are driving the market expansion.
- Rising R&D programs to provide advanced patient care for mental health disorder and robust drug pipeline are expected to boost the market growth.
- Ongoing government initiatives to reduce economic burden and cost- effective mental health treatment present key factors propelling the market growth.
- Prolonged negligence of such children by parents and guardians as well as issues concerning about incorrect treatments and high cost of the treatment are major challenges that can hamper the market growth.
- Adverse effect of various medication and widening gap between effective treatment & resource availability are key restraining factors hampering the market expansion.
- Organizing a series of awareness programs under various initiatives taken by hospitals, medical institutes, and clinics to educate people about the mental health are encouraging the adoption of the treatment. This is expected to fuel the market growth.
Scope of the Anxiety Disorders and Depression Treatment Market Report
The report on the global anxiety disorders and depression treatment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Anxiety Disorders and Depression Treatment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Indications (Phobia, Obsessive-compulsive Disorder Major Depressive Disorder, and Others) and Products (Serotonin Norepinephrine Reuptake Inhibitors, Selective Serotonin Reuptake Inhibitors, Transcranial Magnetic Stimulation, Valley Beth Shalom, Deep Brain Stimulation, Antidepressant Drugs, Benzodiazepines, Devices & Therapy, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Forest Laboratories, Inc.; Pfizer, Inc.; Eli Lilly and Co.; H. Lundbeck A/S; Sanofi-Aventis; Merck & Co. Inc.; Johnson & Johnson; GlaxoSmithKline plc; and AstraZeneca.
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Anxiety Disorders and Depression Treatment Market Segment Insights
Major depressive disorder segment is expected to grow at a robust growth rate
Based on indications, the global anxiety disorders and depression treatment market is segmented into phobia, obsessive-compulsive disorder (OCD), major depressive disorder, and others. The major depressive disorder segment is expected to grow at a robust growth rate during the forecast period owing to the presence of a large patient base along with the rising implementation of antidepressants to treat these diseases.
Moreover, as per reports by the Anxiety and Depression Association of America, anxiety disorder is the most common mental sickness, impacting millions of adults each year. In addition, current clinical trials for the development of efficient medications as well as future drug commercialization across globe are expected to fuel the segment growth.
Antidepressant drugs segment is projected to expand at a considerable CAGR
On the basis of products, the market is segregated as serotonin norepinephrine reuptake inhibitors (SNRIs), selective serotonin reuptake inhibitors (SSRIs), transcranial magnetic stimulation (TMS), valley beth shalom (VBS), deep brain stimulation (DBS), antidepressant drugs, benzodiazepines, devices & therapy, and others. The antidepressant drugs segment is projected to expand at a considerable CAGR during the forecast period.
Antidepressant drugs have better efficacy than other medications that helps in reducing the depressive state of mind of an individual. These drugs are often prescribed by neurologist, hospitals, and psychiatrists. Furthermore, rising number of product pipeline candidates along with product approvals are estimated to upsurge the market expansion. Moreover, Janssen Research and Development LLC has initiated the phase III clinical trial of Seltorexant for testing its efficiency for the treatment of depressive disorder.
North America is anticipated to constitute a key market share
In terms of regions, the global anxiety disorders and depression treatment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the growing incidence of depressive and anxiety disorders, favorable government policies, availability of different branded formulations, and rising awareness levels in the region.
On the other hand, Europe held a major share in this market in 2019 and is projected to account for a key market share during the projected period. The growth of the market in the region attributed to the increasing investment in R&D activities for the development of antidepressant drugs and higher products sale for anxiety disorder.
Segments
Segments Covered in the Report
The global anxiety disorders and depression treatment market has been segmented on the basis of
Indications
- Phobia
- Obsessive-compulsive Disorder (OCD)
- Major Depressive Disorder (MDD)
- Others
Products
- Serotonin Norepinephrine Reuptake Inhibitors (SNRIs)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Transcranial Magnetic Stimulation (TMS)
- Valley Beth Shalom (VBS)
- Deep Brain Stimulation (DBS)
- Antidepressant Drugs
- Benzodiazepines
- Devices & Therapy
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Some of the major player competing in the market are Forest Laboratories, Inc.; Pfizer, Inc.; Eli Lilly and Co.; H. Lundbeck A/S; Sanofi-Aventis; Merck & Co. Inc.; Johnson & Johnson; GlaxoSmithKline plc; and AstraZeneca.
Many of these major companies are involved in developing new treatments and innovative know sessions to bolster their position in the market. Furthermore, to produce an effective treatment and stay competitive, industry participants are employing competitive tactics such as mergers and acquisitions, distribution channel enhancement, new product creation, and research and development alliances.
Cadent Therapeutics announced that Novartis had planned to acquire the former company for a deal of USD 770 million in December 2020. Through the deal, Novartis would be able to access to right to use Cadent's full neuroscience portfolio and expand its mental health presence as a result of the acquisition.
In another event, Big Rock Partners Acquisition Corp. and NeuroRx, a leading developer of innovative medicines for bipolar disorder and COVID-19, signed a merger agreement in December 2020. These are the latest development of major players that helps to expand the overall market growth.
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