April 18, 2024
Major Depressive Disorder Treatment Market

Major Depressive Disorder Treatment Market is in trends by increasing prevalence of depression globally

The major depressive disorder treatment market comprises products such as antidepressants, antipsychotics, CNS stimulants and psychotherapy & devices that are used for the treatment of major depressive disorder. Major depressive disorder, commonly known as clinical depression, is a mood disorder characterized by depressive episodes that can vary in frequency and severity. The increasing incidence and prevalence of major depression around the world is the primary driver of growth in this market. According to WHO estimates, over 300 million people are now living with depression, an increase of more than 18% between 2005 and 2015.

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 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. The growing burden of depressive disorders globally is expected to drive the demand for antidepressants and other antidepressant drugs in the coming years. According to WHO, depression is now the single largest contributor to global disability and is a major contributor to the overall global burden of disease. The key players are also expanding their geographical presence with new product launches and strategic collaborations to tap the market potential in emerging economies.

Market key trends
One of the key trends in the major depressive disorder treatment market size is the rise of digital therapeutics. Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high-quality software programs to prevent, manage, or treat a medical disorder or disease. Various digital therapeutics such as online cognitive behavioral therapy programs and mobile applications are becoming popular for the treatment of mild to moderate depression. These provide scalable and affordable treatment options to people in remote locations without access to mental health professionals. Brain stimulation devices are another emerging trend in the major depressive disorder treatment market. Transcranial magnetic stimulation (TMS) and vagus nerve stimulation devices are gaining popularity for treatment-resistant depression with the advantages of being safe and minimally invasive treatment options.

Porter’s Analysis
Threat of new entrants: The biopharmaceutical industry requires massive research and development costs and lengthy FDA approval processes, creating high barriers to entry.

Bargaining power of buyers: Individual patients have little influence over market prices for depression medications and treatments.

Bargaining power of suppliers: Few large pharmaceutical companies dominate this market, giving them strong negotiating power over suppliers of raw materials and distribution channels.

Threat of new substitutes: The development of new therapies with improved safety and efficacy profiles represent an ongoing threat of substitution.

Competitive rivalry: Intense competition exists between established biopharmaceutical firms to develop new and patentable medications as major branded drugs lose patent protection.

Geographical Regions
North America currently accounts for the largest share of the global major depressive disorder treatment market in terms of value, owing to supportive reimbursement policies, advanced healthcare infrastructure, and high treatment awareness and adoption rates in countries like the United States.

The Asia Pacific region is poised to be the fastest growing market for major depressive disorder treatment during the forecast period, expanding at over 30% CAGR. Rapid economic development, rising chronic disease prevalence, growing geriatric population, increasing healthcare expenditure, and improving access to diagnosis and care are some key factors driving substantial market growth across developing Asian nations.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it