Treatment- Resistant Depression Market- Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)

The Treatment- Resistant Depression market is projected to register a CAGR of 4% during the forecast period.

During COVID-19, the mental state of the individuals was greatly affected, and consequently, most of the persons were suffering from different psychiatric and neuropsychiatric disorders. As per the study ' Global Prevalence and burden of depressive and anxiety disorders in 204 countries and territories in 2020 due to COVID-19 pandemic' published that there were an estimated 75.2 million people additional dealing with anxiety disorders in 2020. The cases increased by 25.6% in 2020 compared to 2019. therefore, COVID-19 has provided the opportunity for market players for innovative and effective treatment procedures to address the global burden of such increasing anxiety disorders, thereby impacting the market.

The market is majorly driven by rising cases of depression, increasing awareness about depression, and the emergence of novel drugs. According to the World Health Organization, in 2021, more than 700,000 people suicide every year, and it is the fourth leading cause of death among 15-19-year-olds. Similarly, In countries such as the United Kingdom in the United States, which are characterized by their fast-paced economies, the percentage of the affected population of every age is quite high. According to the Anxiety and Depression Foundation facts and statistics, in 2021, generalized anxiety disorder will affect 6.8 million adults or 3.1% of the United States population per year. Thus, the rising cases of depression across the world are expected to drive the overall growth of the market studied over the forecast period.

Key Market Trends

The Hospital Pharmacies Segment is Expected to Hold a Major Market Share in the Treatment- Resistant Depression market Market

The Hospital pharmacies segment is expected to hold a major share in the studied market during the forecast period. This is mainly due to the factors such as increasing prevalence, increasing research studies, and product launches. For instance, in April 2020, an article titled' Major Depressive disorder' stated that major depressive disorder was ranked as the third cause of the burden of disease worldwide in 2001 by the World Health Organization (WHO), which has projected that this disease will rank first by 2030. It is diagnosed when an individual has a persistently low or depressed mood or decreased interest in pleasurable activities, lack of energy, poor concentration, appetite changes, or suicidal thoughts. Product launches are another factor in the growth of the market. For instance, in December 2021, Dr. Reddy launched enlafaxine ER Tablets in the U.S. market. The product is therapeutically equivalent to Venlafaxine Extended-Release Tablets, 150mg and 225mg, of Osmotica Pharmaceutical U.S. LLC. A selective serotonin and norepinephrine reuptake inhibitor (SNRI), Venlafaxine Extended-Release tablets, are indicated for major depressive disorder (MDD) and social anxiety disorder (SAD). Thus the above-mentioned factors are expected to boost the growth of the market.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.

The increasing cases of depression are one of the amjor factors that are expected to drive the overall growth of the treatment-resistant depression market. Moreover, the rise in the geriatric population in the United States, which is expected to create more opportunities for the market players in region. According to the Anxiety and Depression Asscoation of America, in 2021, anxiety disorder is one the most common mental illness in the United States, affecting approximately 40 million American adulrs every year, which is 18.1% of the total population United States. Additionally, more than 16.1 million American adulrs suffer from major dpressive disorder every year and it is more prevalent in women than men. Thus the increasing prevalence of disorders and increasing demand for the treatment- resistant depression are expected to drive the growth of the market during the forecast period.

Competitive Landscape

The Treatment- Resistant Depression market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are AstraZeneca, Pfizer, Inc, GlaxoSmithKline, Eli Lilly and Company, Bristol-Myers Squibb Company, Forest Laboratories, Johnson and Johnson, Schering Plough Corporation, Vistagen Therapeutics, Inc, Wyeth, and Others

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