Due to the increasing prevalence of depression and anxiety disorders in adults and the ageing population, the global Treatment-resistant Depression Treatment market size is expected to reach a value of US$ 1.69 billion by 2023, with a projected compound annual growth rate (CAGR) of 9.0% between 2023 and 2033. The market is expected to grow to roughly US$ 4.0 billion by 2033. Because of the growing awareness of treatment-resistant depression, many market participants are developing sophisticated drugs that can be administered via intranasal and intravenous routes rather than standard oral administration.
Get a PDF Sample with Latest Market Insights@ https://www.futuremarketinsights.com/reports/sample/rep-gb-15965
While traditional antidepressants may take several weeks to work and may produce only partial or unsatisfactory results when taken orally, intranasal administration has been shown to provide superior benefits within hours of administration. A research published in Pharmacopsychiatry in January 2022, for example, found that Novartis Pharmaceuticals’ MIJ821, a new pipeline antidepressant, produced a more substantial reduction in depression episodes among patients within 24 hours of monthly infusion.
Furthermore, the study found that intranasal esketamine combined with a novel oral antidepressant was more effective than placebo plus oral administration. Intranasal esketamine reduced depressive symptoms quickly and delayed relapse time. Furthermore, increased research and development of sophisticated pharmaceuticals using alternative modes of administration is expected to drive drug demand and market growth.
According to the World Health Organisation (WHO), the prevalence of mental health issues has risen by 13% in the last decade. According to the US Department of Health and Human Services (HHS), about 4.1 million adolescents aged 12 to 17 experienced a major depressive episode (MDE) in 2020, with 2.9 million experiencing an MDE with severe impairment.
Get a Discount@ https://www.futuremarketinsights.com/request-discount/rep-gb-15965
Key Takeaways from the Market Study
- By the end of 2022, the global treatment-resistant depression therapy market was valued at $1.55 billion USD.
- From 2018 to 2022, market demand increased at a 3.3% CAGR.
- The NMDA sector of the market accounts for the majority of the market with a 49% market share.
- With a 47% market share, the Hospital Pharmacies category dominates the market by Distribution Channel.
- Treatment-resistant Depression Treatment revenues are predicted to grow at a 9.0% CAGR from 2023 to 2033.
- The market for Treatment-resistant Depression Treatment is anticipated to reach US$ 4.0 billion by 2033.
“The rising geriatric population is one of the factors that is anticipated to boost the growth of treatment-resistance depression treatment market, as the treatment-resistance depression treatment is high in this age group population,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the Treatment-resistant Depression Treatment market are Janssen Global Services, LLC, AbbVie Inc., Sandoz International GmbH (Novartis AG), H. Lundbeck A/S, Par Pharmaceutical (Endo International plc), Otsuka Pharmaceutical Co., Ltd., and AstraZeneca, among others.
Customization Available Upon Request@ https://www.futuremarketinsights.com/customization-available/rep-gb-15965
Recent Developments:
- Merck Sharp & Dohme LLC launched a Phase II a research trial in August 2022 to assess the safety and efficacy of MK-1942 in treatment-resistant depressive patients.
- Novartis Pharmaceuticals stated in July 2022 that a Phase 2 clinical trial of MIJ821 (ketamine) for treatment-resistant depressive disorders would begin in September 2022.
- At the American Psychiatric Association annual meeting in New Orleans in May 2022, COMPASS Pathways presented positive data for the Phase IIb study of COMP360 psilocybin therapy for Treatment-resistant Depression Treatment.
- Denova Biopharma received FDA approval in February 2022 to begin a Phase 2b clinical research to evaluate the efficacy and safety of DB104 (liafensine) in individuals with treatment-resistant mood disorder.
Key Segments Covered in the Treatment-resistant Depression Treatment Industry Analysis
Treatment-resistant Depression Treatment Market by Drug Type:
- NMDA
- Antidepressants
- Antipsychotics
- Others
Treatment-resistant Depression Treatment Market by Distribution Channel:
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
Treatment-resistant Depression Treatment Market by Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs