Anxiety Disorders and Depression Treatment Global Market Report Forecast by Product, Indication, Country and Company Analysis 2024-2032

Global Anxiety Disorders and Depression Treatment Market

Anxiety Disorder and Depression Treatment Market will increase from US$ 19.39 billion in 2023 to US$ 32.25 billion by 2032 at a CAGR of 5.82% from 2024-2032. Young adults' increased rates of anxiety and depression are a complicated problem with many underlying reasons, such as excessive social media use, pressure to perform well in school, and financial stress, all of which are contributing to the market's expansion. Young adults, generally characterized as those in the 18-30 age range, are among the age groups most susceptible to the dangers of anxiety and depression.

Anxiety Disorders and Depression Treatment Market Overview

Millions of individuals worldwide suffer from mental health symptoms each year, and the number of those seeking help is on the rise. Living with a mental health diagnosis affects families, communities, and even economies in addition to the patient.

Clinical disorders known as anxiety disorders occur when a person has prolonged worry, fear, or uneasiness. They affect a person's quality of life, social interactions, and day-to-day functioning. Generalized anxiety disorder, panic disorder, social phobia, and phobic fears are the four primary categories of anxiety disorders. Anxiety disorders can manifest in a variety of ways, including somatic ones that impair social, interpersonal, and occupational functioning. They may also result in avoidance behaviors and long-term stress, both of which may have an impact on one's physical health in the future.

Depression is a serious mental illness that results in enduring melancholy, pessimism, and disinterest in activities. It has a significant impact on all facets of a person's life, including their emotional and physical health as well as their cognitive abilities, and affects millions of people globally. In severe circumstances, depression can also result in suicidal thoughts or actions. It can also raise the chance of developing other health issues.

Depression and anxiety disorders are typically treated with a combination of cognitive behavioural therapy, medication, lifestyle modifications, and other therapies. Non-pharmacological treatments are the mainstay and are frequently customized; these may include family, peer, and complementary therapy.

A MindMed study estimates that 284 million people worldwide suffer from anxiety, yet only 36% of them seek help. This is mostly to blame for the decline in the number of prescriptions written to treat depression and anxiety disorders, which has slowed the market's growth. Antidepressant demand is low because people are generally unaware of the need for treatment and management of mental health issues. To increase market potential, industry participants are nevertheless aggressively releasing new medications.

Growth Factors in the anxiety disorders and Depression Treatment Industry

The Economic Cost of Mental Illnesses to Drive Product Demand

Due to the immense financial and emotional strain that mental health diseases place on people, families, and society at large, the prevalence of these disorders is rising quickly in both adults and children worldwide. There will be economic ramifications to this in the future. The WHO estimates that the cost of mental health issues in wealthy nations is between 3% and 4% of GDP (gross national product). Consequently, governments' efforts to lessen the financial burden of these illnesses are likely to increase consumer demand for products that provide prompt treatment of depression and anxiety.

Sturdy Medication Pipelines to Support Development Prospects

Globally, there is an acceleration of research and development aimed at providing advanced patient care for mental health diseases. Treatment pipeline candidates for depression and anxiety disorders have increased as a result of creative trials that resulted in combination therapies using either novel or existing medication molecules. For example, Luye Pharma reported in March 2020 that the US Food and Drug Administration (FDA) has accepted its new drug application for the depressive medication LY03005. Strong support for research and development funding from national and international healthcare organizations is also anticipated to create a variety of prospects in the market for the treatment of depression and anxiety disorders. This is expected to support market expansion, along with consumers' growing demand for novel medications that are introduced to the market.

North America Anxiety Disorders and Depression Treatment Market Overview:

Over the course of the forecast period, the North American region is anticipated to occupy a significant share of the market. The frequency of anxiety and depressive disorders among North Americans is rising, and the industry is predicted to develop due to factors like these, as well as the presence of major competitors and a robust clinical pipeline.

According to data released by the Anxiety and Depression Association of America in 2022, for example, anxiety disorder affected approximately 31.9% of adolescents between the ages of 13 and 18 in 2021 and 6.8 million people in the United States. Furthermore, according to data released by the Canadian Mental Health Association in July 2021, 5.4% of Canadians suffered from severe depressive disorder, and 4.6% from anxiety disorders. Thus, during the course of the forecast period, the rising frequency of depression and anxiety disorders in North American nations is anticipated to fuel market expansion.

In a similar vein, it is anticipated that the increasing number of product approvals in this area will propel market expansion. For instance, Axsome Therapeutics' Auvelity medication was approved by the US FDA in August 2022 to treat major depressive disorder in adults. It is a medication taken orally that works in a unique way.

Anxiety Disorders and Depression Treatment Market Company Overview

Some of the industry leaders seen in the Global Anxiety Disorders and Depression Treatment Market Includes Abbvie, Bristol-Myers Squibb Company, Eli Lily & Co, GlaxoSmithKline, H. Lundbeck A/S, Johnson & Johnson, Merck & Co Inc., Pfizer Inc., Sanofi-Aventis, and Axsome Therapeutics

Anxiety Disorders and Depression Treatment Company News

In September 2023, At the International Headache Congress (IHC) 2023 in Seoul, Korea, Lundbeck presented clinical results attesting to the efficacy and tolerability of Lu AG09222 in preventing migraines, a prevalent symptom in a significant number of patients with anxiety disorders. Additional data from a trial demonstrating Lu AG09222's ability to stop PACAP38-induced vasodilation and headaches was also included in the presentations.

In March 2022, The Phase 2 Proof-of-Concept investigator-initiated trial of HMNC Brain Health's oral prolonged-release formulation of ketamine (KET01) in Treatment-Resistant Depression (TRD) produced encouraging top-line findings.

In February 2022, The US Food and Drug Administration (FDA) received a supplemental New Drug Application (sNDA) from AbbVie for cariprazine (VRAYLAR), intended for use as an adjuvant treatment for major depressive disorder (MDD) in patients undergoing continuous antidepressant therapy.

Product: Market is divided into 3 Viewpoints

1. Antidepressant Drugs

2. Therapy and Devices

3. Others

Indication: Market is divided into 4 Viewpoints

1. Obsessive-Compulsive Disorder

2. Major Depressive Disorder

3. Phobia

4. Others

Country: Market is divided into 24 Countries

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Netherlands

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Malaysia
• Indonesia
• Israel

Latin America

• Brazil
• Mexico
• Argentina
• Colombia

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE

Rest of World

All the key players have been covered from 5 Viewpoints:

• Key Person
• Company overview
• Recent Development & Strategies
• Product Portfolio
• Sales Analysis

Company Analysis

1. Abbvie

2. Bristol-Myers Squibb Company

3. Eli Lily & Co

4. GlaxoSmithKline

5. H. Lundbeck A/S

6. Johnson & Johnson

7. Merck & Co. Inc

8. Pfizer Inc

9. Sanofi-Aventis

10. Axsome Therapeutics