by The Treatment Resistant Depression Market is estimated to be valued at US$ 1220.12 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Treatment resistant depression refers to a medical condition where depression does not improve even after multiple treatment attempts with antidepressant medications from different classes and/or psychotherapy. Some common treatment approaches for treatment resistant depression include electroconvulsive therapy, transcranial magnetic stimulation therapy, deep brain stimulation, combination/augmentation therapy using medications and psychosocial interventions.
Market Dynamics:
There are two major drivers fueling the growth of treatment resistant depression market. Firstly, increasing prevalence of major depressive disorder worldwide is leading to rising cases of treatment resistant depression. Major depressive disorder affects more than 300 million people globally. Around 30% of depressed patients do not respond adequately to initial treatments. Secondly, continuous research and development activities by key players are leading to development and commercialization of novel and advanced treatment options for treatment resistant depression. For instance, in July 2022, Sage Therapeutics announced positive Phase 3 data for Zulresso (brexanolone) CIII injection for treatment of postpartum depression.
Segment Analysis
The global treatment resistant depression market is dominated by the atypical antipsychotics sub-segment. This is because atypical antipsychotics such as aripiprazole and clozapine are majorly prescribed for treatment resistant depression as these drugs address psychotic symptoms and have fewer side effects than typical antipsychotics. Atypical antipsychotics help relieve symptoms such as hallucinations and delusions when other antidepressant treatments don’t work.
PEST Analysis
Political: Healthcare reforms and initiatives by governments across countries are aimed at improving access to treatment for mental health conditions like depression. This is supporting the growth of the treatment resistant depression market.
Economic: Rising per capita healthcare expenditures and improving affordability for premium healthcare services are driving the demand for advanced treatment options for treatment resistant depression.
Social: Reducing stigma around mental illnesses and increasing awareness about treatment resistance is encouraging patients to seek combination therapies or altered treatments.
Technological: Advancements in drug delivery mechanisms and development of novel drug formulations with fewer side effects are expanding treatment options available for patients not responding to first-line antidepressants.
Key Takeaways
The Global Treatment Resistant Depression Market Size was valued at US$ 1220.12 Mn in 2023 and is expected to reach over US$ 2000 Mn by 2030, expanding at a CAGR of 3.4% during the forecast period. The market is witnessing high growth on the back of rising incidences of treatment non-responder depression patients worldwide.
North America dominated the global market in 2023 and is anticipated to maintain its lead through 2030. This is attributed to the presence of advanced healthcare infrastructure and availability of comprehensive health insurance in the region. Rising mental health awareness initiatives by organizations like National Alliance on Mental Illness are also fueling regional market growth.
Key players operating in the treatment resistant depression market are AbbVie Inc., Lupin, Eli Lilly and Company, GlaxoSmithKline Plc., Pfizer Inc., Bausch Health Companies Inc., Sanofi, Mallinckrodt, Johnson & Johnson, Merck & Co., Inc., Viatris Inc., Otsuka Holdings Co., Ltd., H. Lundbeck A/S, AstraZeneca, and Aurobindo Pharma Ltd. Major players are focused on new product launches and development of therapies with novel mechanisms of action to expand their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
