The Global Anxiety Disorder and Depression Treatment Market size is forecast to reach USD 19.53 Billion by 2028, registering a CAGR of 2.4% over the forecast period, according to a new report by Reports and Data.
The Global Anxiety Disorder and Depression Treatment Market size is forecast to reach USD 19.53 Billion by 2028, registering a CAGR of 2.4% over the forecast period, according to a new report by Reports and Data. Major factors driving market revenue growth are increasing awareness about mental health disorders and the rising demand to treat such disorders as anxiety and depression.
Anxiety disorders and depression, are among the most prevalent mental health conditions. Though they are less visible than schizophrenia and bipolar disorder, they can be just as disabling. Anxiety disorders affect up to 13.3% of people in the United States, making it the most common group of mental diseases. The Epidemiological Catchments Area study, which took place around 26 years ago, was the first to disclose the scope of their occurrence. Due to their extensive occurrence, these illnesses have received increasing attention in the recent years and are being considered just as important as other syndromes such as mood and psychotic disorders. The primary care physician is often the primary assessor and treatment provider. With improvement in primary healthcare infrastructure around the world, market for anxiety disorder and depression treatment is also expected to grow.
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Anxiety disorders can be blamed for lower productivity, higher morbidity and mortality rates, and an increase in alcohol and drug usage in a broad segment of the population. Therefore to treat such problems, increased attention is being paid to anxiety disorder and depression treatment. The prevalence of favourable reimbursement policies for drugs and therapies in developed economies, is expected to fuel growth during the forecast period.
However, in most cases anxiety disorder and depression treatment can be considerably expensive. Patients with no access to health insurance or good primary care facilities cannot afford such treatments because of their high cost. This can be a restraining factor for market growth in coming years.
Further key findings from the report suggest
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- The rising rate of depression and anxiety disorder as well as the increasing awareness to treat such disorders will drive market growth.
- In the drug class segment, antidepressants accounted for the highest market share in 2020. Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs) accounted for 28% of the market revenue share.
- As a result of higher incidents of suicide, there has been a rise in demand for therapies. In the year 2020, Cognitive Behavior Therapy [CBT] accounted for the largest market share among other therapies segment.
- In 2020, North America accounted fort the largest revenue share in the anxiety disorder and depression treatment market. Because of increased incidence rate of anxiety disorders and depression in the region, and favourable government policies, North America is expected to continue accounting for a higher revenue share during the forecast period.
- In terms of market share, the Asia Pacific region also has a considerable share in the worldwide anxiety disorder and depression treatment market. Major reasons for market growth in the APAC region is increasing disposable income and improvement of healthcare sector.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Johnson & Johnson, Inc., Pfizer, GlaxoSmithKline plc., Lundbeck A/S, Inc., Sanofi- Aventis, Merck & Company, AstraZeneca PLC., Forest Laboratories, Eli Lilly and Company, Bristol-Myers Squibb Company among
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Anxiety Disorder and Depression Treatment Market Segmentation:
Drug Class Outlook (Revenue, USD Billion; 2020 – 2028)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Antidepressant Drugs
- Tricyclic Antidepressants (TCAs)
- Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs)
- Monoamine Oxidase Inhibitors (MAOIs)
- Benzodiazepines
- Atypical Antipsychotics
- Anticonvulsants
- Beta-Blockers
- Others
Therapies Outlook (Revenue, USD Billion; 2020 – 2028)
- Electroconvulsive Therapy (ECT)
- Cognitive Behavior Therapy (CBT)
- Psychotherapy
- Deep Brain Stimulation
- Transcranial Magnetic Stimulation (TMS)
- Cranial electrotherapy stimulation (CES)
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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