PUBLISHER: The Business Research Company | PRODUCT CODE: 1415789
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415789
“Major Depressive Disorder Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on major depressive disorder market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for major depressive disorder? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The major depressive disorder market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major depressive disorder, often referred to as clinical depression, is a mood disorder characterized by persistent feelings of sadness and a loss of interest in daily activities. These symptoms can disrupt essential aspects of life, such as sleep, appetite, and work performance, extending beyond typical mood fluctuations and profoundly affecting a person's thoughts, emotions, behavior, and overall well-being. Managing major depressive disorder involves various medical interventions to promote an individual's emotional health.
The key treatments for major depressive disorder encompass psychotherapy, medications, electroconvulsive therapy (ECT), transcranial magnetic stimulation (TMS), and other therapeutic approaches. Psychotherapy involves the guidance of a trained mental health professional who assists individuals or groups in addressing emotional, psychological, and behavioral challenges. The diagnosis of major depressive disorder can be made through physical examinations, laboratory tests, psychiatric evaluations, references to the Diagnostic and Statistical Manual of Mental Disorders (DSM-5), and other clinical methods. These interventions and evaluations are typically administered in various healthcare settings, including hospitals, clinics, and other medical facilities.
The major depressive disorder market research report is one of a series of new reports from The Business Research Company that provides major depressive disorder market statistics, including major depressive disorder industry global market size, regional shares, competitors with a major depressive disorder market share, detailed major depressive disorder market segments, market trends and opportunities and any further data you may need to thrive in the major depressive disorder industry. This major depressive disorder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The major depressive disorder market size has grown steadily in recent years. It will grow from $5.96 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to pharmaceutical advances, mental health awareness, psychological therapies, public health initiatives.
The major depressive disorder market size is expected to see steady growth in the next few years. It will grow to $6.84 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to precision medicine, telepsychiatry and teletherapy, novel treatment modalities, global expansion of mental health services. Major trends in the forecast period include early intervention, peer support and online communities, holistic approaches, resilience and coping strategies.
The major depressive disorder market is anticipated to witness substantial growth due to the increasing prevalence of substance and alcohol abuse. Substance and alcohol abuse refer to the excessive and harmful consumption of substances, including alcohol, resulting in adverse physical, psychological, and social consequences. These behaviors often co-occur with major depressive disorder, reinforcing each other and heightening the risks of physical and mental harm. As an illustration, in December 2022, data from the Office for National Statistics (ONS), a UK government department, revealed that 2.6% of adults aged 16 to 59 had reported drug use, up from 2.1% in 2020. Additionally, a report from Kirin Holdings Company Limited, a Japanese beverage company, disclosed that global beer consumption reached 185.60 million kiloliters in 2021, marking a 4.0% increase from the previous year. Consequently, the surge in substance and alcohol abuse cases is propelling the major depressive disorder market's growth.
Reduced funding for mental health is impeding the growth of the major depressive disorder market in the forecast period. The reduction in funding may lead to resource constraints for mental health facilities and providers, resulting in longer appointment wait times, decreased access to specialized care, and strained mental health infrastructure. These constraints have a direct impact on the quality of care offered to MDD patients. For instance, in May 2023, findings from PLOS, a US-based non-profit publisher of open access journals, revealed that mental health received less than 1% of the nation's entire health budget. Consequently, the curtailment of mental health funding is obstructing the expansion of the major depressive disorder market.
The increasing prevalence of anxiety is poised to drive the expansion of the major depressive disorder market. Anxiety is a common response to stress that triggers feelings of fear, apprehension, and uneasiness. It manifests as a temporary, intense, and persistent apprehension about everyday occurrences. Anxiety significantly influences major depressive disorder, contributing to symptoms like nervousness, irritability, and difficulties with sleep and concentration. For instance, data from the Centers for Disease Control and Prevention in April 2021 indicated that between August 2020 and February 2021, the percentage of individuals reporting symptoms of anxiety or depressive illnesses rose from 36.4% to 41.5%. Moreover, the proportion of those indicating an unmet need for mental health treatment increased from 9.2% to 11.7%. Consequently, the upsurge in anxiety cases propels the growth of the major depressive disorder market.
Prominent companies within the major depressive disorder market are concentrating on the development of pioneering products and obtaining regulatory approvals to gain a competitive edge. The approval of novel drugs for major depressive disorder treatment, such as VRAYLAR (cariprazine), is on the rise to address the demand for more effective and safer treatments. For instance, in December 2022, the US-based pharmaceutical company AbbVie Inc. received FDA (Food and Drug Administration) approval for VRAYLAR (cariprazine) as an adjunctive therapy alongside antidepressants for the treatment of major depressive disorder (MDD) in adults. VRAYLAR represents an innovative atypical antipsychotic medication that rebalances dopamine and serotonin levels in the brain. It stands as the first atypical antipsychotic to be approved for adjunctive major depressive disorder treatment, offering the convenience of a once-daily capsule.
In March 2022, AbbVie Inc., a US-based biopharmaceutical firm, acquired Syndesi Therapeutics SA for $130 million. This strategic acquisition is intended to bolster AbbVie Inc.'s neuroscience portfolio and expand its research and development capabilities in neuropsychiatric and neurodegenerative disorders. Syndesi Therapeutics SA, a Belgium-based biotechnology company, specializes in the development of therapeutic products for major depressive disorders and other neuropsychiatric conditions.
Major players in the major depressive disorder market are Pfizer Inc., Janssen Research And Development LLC, Merck and Co. Inc., Novartis AG, Sanofi-Aventis US LLC, Bristol Myers Squibb Co., AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Biogen Inc., Otsuka Pharmaceuticals Co.Ltd., Forest Laboratories Inc., H. Lundbeck A/S, Richter Gedeon PLC, Allergan PLC, Neurocrine Biosciences Inc., BlackThorn Therapeutics Inc., Intra-Cellular Therapies Inc., Axsome Therapeutics Inc., Luye Pharma Group, BioLite Inc., BrainsWay Ltd., Neumora Therapeutics Inc., Chase Therapeutics Corporation, SAGE Therapeutics Inc., Arrivo Bioventures LLC, Relmada Therapeutics Inc., Fabre-Kramer Pharmaceuticals Inc., Vistagen Therapeutics Inc.
North America was the largest region in the major depressive disorder market in 2023. The regions covered in major depressive disorder report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the major depressive disorder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The major depressive disorder market consists of revenues earned by entities by providing services such as teletherapy, integrated care, cognitive behavioral therapy, interpersonal therapy, mindfulness-based therapy and residential treatment. The market value includes the value of related goods sold by the service provider or included within the service offering. The major depressive disorder market also includes sales of monoamine oxidase inhibitors, tricyclic antidepressants and mirtazapine. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.