by The major depressive disorder treatment market comprises products and therapeutics associated with treating major depressive disorder. Major depressive disorder, also known as clinical depression, is a mood disorder characterized by persistent feelings of sadness, hopelessness, and lack of interest in activities. The treatment options available include antidepressants, psychotherapy, electroconvulsive therapy, and others. Antidepressants include SSRIs, SNRIs, and others that are effective for treating mild to moderate depression. Psychotherapy involves talking therapies like cognitive behavioral therapy and interpersonal therapy that help patients understand and change thought and behavior patterns.
The Global Major Depressive Disorder Treatment Market is estimated to be valued at US$ 13.63 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the major depressive disorder treatment market are BP Plc, Royal Dutch Shell Plc, Total SE, Chevron Corporation, ExxonMobil Corporation, Engie SA, RWE AG, ON SE, Vattenfall AB, Gazprom, Mitsubishi UFJ Financial Group (MUFG), JPMorgan Chase & Co., Goldman Sachs Group, Inc., Citigroup Inc., Barclays PLC. Key players are focusing on developing novel treatment options like digital therapies and combination therapies to improve major depressive disorder treatment market Growth response rates.
The growing prevalence of depression globally due to the COVID-19 pandemic, increasing awareness, and reduction of stigma associated with the disease are fueling the demand for effective depression treatment therapies. According to WHO estimates, over 264 million people suffer from depression worldwide.
Major players are expanding their geographic presence and access to treatment therapies through strategic collaborations and acquisitions. For instance, in 2023, Johnson and Johnson acquired Abilify Maintena developer Otsuka Pharmaceutical for $3.4 billion in cash to expand its portfolio of treatments for major depression and other mental illnesses.
Market Key Trends
Emerging digital therapies for depression are considered a key trend in the major depressive disorder treatment market Size And Trends . Digital therapies involve the use of apps, online programs, videos, virtual therapists that can track symptoms and deliver evidence-based depression treatment from remote locations. They address a major limitation with traditional in-person therapies by improving access and overcoming stigma barriers. Leading players are investing in developing AI-powered digital therapeutic and wellness platforms for personalized at-home treatment of depression through continuous remote therapy and monitoring.
Porter’s Analysis
Threat of new entrants: The requirement for extensive research and development competencies, patents, and clinical trials poses a high barrier to entry for new firms.
Bargaining power of buyers: There is high bargaining power of buyers due to a significant number of substitutes for treatment options available for depression.
Bargaining power of suppliers: Raw material suppliers have moderate bargaining power due to differentiated substances required for developing antidepressant drugs.
Threat of new substitutes: The threat of substitution is moderate due to ongoing research and development of novel therapies and integration of psychosocial therapies.
Competitive rivalry: The rivalry between existing players is high due to differentiated products and focus on patent protection of innovative drugs.
Geographical Regions
North America dominated the major depressive disorder treatment market in terms of value in 2024 due to large population suffering from depression and availability of advanced healthcare facilities. The United States accounted for the major share due to supportive reimbursement policies and presence of leading pharmaceutical companies.
Asia Pacific is projected to witness the fastest growth during the forecast period 2024 to 2031 attributed to rising geriatric population afflicted with depression, increasing disease awareness, and growing demand for cost-effective interventions in China and India. Moreover, evolving healthcare infrastructure and expanding healthcare expenditure are anticipated to boost the regional market.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
