The worldwide anxiety disorders and depression treatment market is anticipated to attain USD 18.3 billion by 2025. The market stood at USD 15.2 billion in 2015. Increasing cases of depression worldwide may positively impact industry demand over the forecast period (2014 to 2025). According to the World Health Organization (WHO), depression had affected nearly 350 million people in 2012. This number is projected to increase even further due to unhealthy lifestyles. Depression is also a secondary cause of a number of disabilities. This may fuel the need for novel medications in the near future.
Growing need for antidepressants with minimal side-effects drives market growth. However, patent expirations of renowned drugs combined with the availability of generic versions of the same can hamper overall demand. Consumers opt for these drugs in order to prevent high hospital costs. This in turn benefits the industry in the long run.
Ketamine is a popular treatment for extreme cases of depression. It is effective in treating unipolar major depressive disorder (MDD), bipolar disorder, and even acute social ideation. This treatment follows a unique approach by targeting glutamergic pathways. Since Ketamine needs to be administered frequently for best results, it may lead to addiction in the long run.
In-depth research report on global anxiety disorders and depression treatment market - http://www.grandviewresearch.com/industry-analysis/anxiety-disorders-and-depression-treatment-market
The global anxiety disorders and depression treatment market is divided as per indications, products, and regions. Indications are MDD (Major Depressive Disorder), obsessive-compulsive disorder (OCD), phobia, and others. ‘Others’ comprises traumatic stress diseases. MDD held highest shares in 2015 driven by a large patient pool and adoption of anti-depressants to treat MDD.
Products are bifurcated into therapy & devices and anti-depressant drugs. The therapy & devices segment comprises Transcranial Magnetic Stimulation (TMS), Vagus Nerve Stimulation (VNS), Fisher-Wallace Stimulator, Deep Brain Stimulation (DBS), Cognitive Behavior Therapy (CBT), Electroconvulsive Therapy (ECT), and others. Benzodiazepines, beta-blockers, anticonvulsants, tricyclic antidepressants (TCAs), atypical antipsychotics, monoamine oxidase inhibitors (MAOIs), Selective Serotonin Reuptake Inhibitors (SSRIs), Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs), and others are different types of anti-depressant drugs.
Therapy & devices can register a high growth rate owing to widespread adoption by healthcare professionals and fewer side-effects unlike anti-depressant drugs. TMS may witness considerable growth on account of introduction of advanced devices, like the MagVita TMS Therapy System by MagVenture in July 2015. CBT held high market shares in 2015 and is expected to grow robustly over the forecast period.
Among anti-depressants, SNRIs led the overall industry in 2015 owing to high adoption rates. However, revenues may plummet in the near future because of patent expiries of key SNRI drugs. For instance, patent for Cymbalta of Eli Lilly and Company expired in June 2013, causing a fall in company profits the following year.
At present, SSRI drugs hold a dominant position in the market. This can be ascribed to the drug’s capacity to block the reabsorption of serotonin through certain nerve cells in the brain. These medicines help treat depression in the initial stages. Ongoing clinical trials for developing more effective medicines can boost the industry for anti-depressant drugs.
Regional segments are Latin America, North America, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. North America led the anxiety disorders and depression treatment market in 2015. This can be attributed to the high incidence of depression and anxiety disorders in the region. High awareness regarding the disease and its treatment, favorable government policies, and the availability of drugs under different formulas are other factors influencing market growth.
Key companies operating in the industry are AstraZeneca plc; Sanofi-Aventis; Eli Lilly and Company; and Pfizer Inc. New product development, distribution channel enhancement, and mergers & acquisitions are strategies incorporated by these players for further growth. For instance, Forest Laboratories launched Vilazodone to treat general anxiety disorder (GAD) in 2013.