Global treatment-resistant depression market expected to reach $4.0 billion by 2033 with innovative nasal and intravenous drugs offering quicker and more effective results.
The global Treatment-Resistant Depression TreatmentMarket Size is expected to be worth US$ 1.69 billion in 2023. Because of the increasing prevalence of depression and anxiety disorders in adults, as well as the ageing population, global demand for treatment-resistant depression treatment is predicted to grow at a CAGR of 9.0% between 2023 and 2033, reaching approximately US$ 4.0 billion by 2033. The rising prevalence of Treatment-Resistant Depression has increased public awareness of its therapeutic options. Several market players are developing sophisticated drugs that can be administered via nasal and intravenous channels rather than the traditional oral route.
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Traditional antidepressants used for this disease may take at least 4-6 weeks to work, with the risk of only producing partial or poor results when taken orally, whereas intranasal has been demonstrated to offer greater results within hours of administration. In a January 2022 study published in Pharmacopsychiatry, for example, Novartis Pharmaceuticals' novel pipeline antidepressant MIJ821 showed a more significant reduction in depressive episodes within 24 hours of dosing by infusion weekly among patients.
Furthermore, the total results demonstrated that intranasal esketamine combined with a novel oral antidepressant was more effective than placebo plus oral administration. Intranasal esketamine reduced depressive symptoms quickly and delayed relapse time. Furthermore, greater R&D for sophisticated pharmaceuticals via new means of administration is predicted to improve drug demand, hence expanding total market growth.
The World Health Organisation (WHO) reports that the prevalence of mental health disorders and afflictions is rising worldwide. There has been a 13% increase in mental health disorders and other depressive conditions in the last decade. According to the US Department of Health and Human Services (HHS), 17.0% (about 4.1 million people) of adolescents aged 12 to 17 experienced a major depressive episode (MDE) in 2020, with 12% (about 2.9 million people) experiencing an MDE with severe impairment.
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Key Takeaways from the Market Study
“The rising geriatric population is one of the factors that is anticipated to boost the growth of treatment-resistance depression treatment market, as the treatment-resistance depression treatment is high in this age group population,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the treatment-resistant depression treatment market are Janssen Global Services, LLC, AbbVie Inc., Sandoz International GmbH (Novartis AG), H. Lundbeck A/S, Par Pharmaceutical (Endo International plc), Otsuka Pharmaceutical Co., Ltd., and AstraZeneca, among others.
Recent Developments:
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Key Segments Covered in the Treatment-Resistant Depression Treatment Industry Analysis
Treatment-Resistant Depression Treatment Market by Drug Type:
Treatment-Resistant Depression Treatment Market by Distribution Channel:
Treatment-Resistant Depression Treatment Market by Region:
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Jul 14, 2023
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