Depression Therapeutics Market Size is valued at US$ 11,130.7 million in 2021 at a CAGR of 3.7% By 2027, Rising prevalence of Mental Disorders
“The Depression Therapeutics Market 2021 – 2027 report covers the important factors driving the growth of the market, untapped opportunities for manufacturers, trends and developments shaping the dynamics of the market and other insights across various key segments.”
The Depression Therapeutics research report covers the current scenario and the growth prospects of the global Depression Therapeutics industry forecast 2021 – 2027. The report enlists several important factors, starting from the basics principal to advanced market intelligence which play a vital part in strategizing. Depression Therapeutics manufacturers and is a important source of guidance and direction for companies and individuals interested in the Depression Therapeutics industry.
Antidepressants are used to treat anxiety, stress, and depressive disorder, among other mental illnesses. Several neurotransmitters in the brain, such as dopamine and serotonin, remain in chemical form and are important for emotional equilibrium, such as mood and behavior. Once taken, these medicines have distinct pharmacological actions in the brain to restore the chemical equilibrium in the brain, which is linked to behavioral disorders like depression.
During the forecast period, the increasing incidences of mental illnesses such as depression and anxiety is projected to increase the market for depression therapies.
Mental illnesses including major depressive disorder, anxiety, and its co-morbidities are quite common worldwide. According to the World Health Organization (WHO), over 300 million individuals worldwide were projected to be depressed in 2017. Moreover, the World Health Organization (WHO) enacted a World Health Assembly resolution in 2013 to manage mental illnesses in a comprehensive and coordinated manner, and its Mental Health Gap Action Program includes depression. Panic, anxiety, post-traumatic stress disorder (PTSD), suicidal behavior, and drug addiction disorder were the top five mental disorders in the Asia Pacific area in 2015, according to the World Health Organization (WHO). The use of depression medicines is anticipated to rise throughout the forecast period as the frequency of mental illnesses rises.
In 2017, the global depression therapeutics market was worth US$ 11,130.7 million, and it is anticipated to grow at a CAGR of 3.7 percent from 2018 to 2026.
During the forecast period, the global depression therapeutics market is predicted to increase due to low antidepressant drug costs and the lack of cheap treatment options.
Drugs or psychotherapy, which includes cognitive behavioral therapy, are used to treat mental illnesses such as depression and anxiety (CBT). Although both therapies have similar levels of efficacy, with 30 percent to 40 percent remission rates, the cost-efficiency of both therapies plays an essential role, according to the American Psychiatric Association in 2017. Due to a shortage of finances, societal stigma associated with mental illnesses, and a shortage of trained psychotherapists, patients frequently do not have access to advanced psychotherapy, in which case medication might be helpful. Antidepressants are commonly accessible due to the large number of generic companies that provide cost-effective medications, but psychotherapy is more expensive and inaccessible elsewhere due to a shortage of qualified psychiatrists. Psychotherapy single sessions can cost anywhere from $60 to $150, according to the Psychotherapy and Counselling Federation of Australia (PACFA). Brain imaging techniques such as electroconvulsive therapy and vagus nerve stimulation are newer therapeutic alternatives that are not generally available and costly. Fisher Wallace developed the Fisher Wallace Stimulator, a U.S. FDA-approved stimulator for treating depression, anxiety, and insomnia that costs approximately US$ 700 and is out of reach for the bulk of the population.
The use of depression medications has been limited due to various negative impacts such as increased suicidal inclination, hormonal imbalances, and stress. Furthermore, companies have been sued several times as a result of these adverse effects, which has demotivated them to spend further in this industry. Even though the generic medicine was made by another firm, Mylan N.V., GlaxoSmithKline was ordered to pay US$ 3 million to a lady whose husband committed suicide after taking a generic form of Paxil, an antidepressant drug. GlaxoSmithKline is accountable and will have to pay penalties since it controls the drug’s design and label, which applies to both generic and branded drugs, according to the verdict.
Major Key Players Include In Depression Therapeutics Market: Pfizer, Inc., Eli, Lilly and Company, AstraZeneca, Plc, Allergan Plc, GlaxoSmithKline Plc, Intellipharmaceutics International, Inc., Takeda Pharmaceutical Company Limited, H.Lundbeck A/S, Otsuka Holdings Co.,Ltd., Apotex, Inc., Shionogi & Co. Ltd., Zhejiang Hua Hai Pharmaceutical Co., Ltd, and Chengdu Kanghong Pharmaceutical Group Co.,Ltd.
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Main points in Depression Therapeutics Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Depression Therapeutics Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Depression Therapeutics Industry Impact
Chapter 2 Global Depression Therapeutics Competition by Types, Applications, and Top Regions and Countries
2.1 Global Depression Therapeutics (Volume and Value) by Type
2.3 Global Depression Therapeutics (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Depression Therapeutics Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Depression Therapeutics Market Analysis
Chapter 6 East Asia Depression Therapeutics Market Analysis
Chapter 7 Europe Depression Therapeutics Market Analysis
Chapter 8 South Asia Depression Therapeutics Market Analysis
Chapter 9 Southeast Asia Depression Therapeutics Market Analysis
Chapter 10 Middle East Depression Therapeutics Market Analysis
Chapter 11 Africa Depression Therapeutics Market Analysis
Chapter 12 Oceania Depression Therapeutics Market Analysis
Chapter 13 South America Depression Therapeutics Market Analysis
Chapter 14 Company Profiles and Key Figures in Depression Therapeutics Business
Chapter 15 Global Depression Therapeutics Market Forecast (2021-2027)
Chapter 16 Conclusions
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