Antidepressant drugs are driving growth in Europe’s Anxiety Disorders and Depression Treatment market, propelling it to second place. This expansion can be ascribed to increased expenditure in R&D and higher sales of anxiety-related items. The government’s goal of lessening the financial burden of these disorders is intended to stimulate demand for anxiety and depression treatment and ensure quick treatment.
Among all mental health problems, major depressive disorder (MDD) is the leading source of chronic health-related burden. The COVID-19 pandemic has compounded the situation by introducing a number of unclear circumstances that have an impact on mental health, such as virus transmission, blockade and ban, public transport limits, school and company closures, and decreased social interaction. As a result, the threat of MDD has grown, as has the health-care burden and demand for antidepressant medicines in Europe.
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Reimbursement laws for drugs and therapeutic techniques in developed countries, together with their high levels of effectiveness, are projected to increase demand in the area during the projection period. However, because to the high expense of equipment and therapies such as anaesthesia and hospitalisation, patient preference has shifted towards pharmaceuticals. In terms of distribution channels, the anxiety and depression medications market in Europe is expected to have the greatest CAGR in the future years. Consumers are drawn to internet shopping for its convenience, which includes the option to order from home, enjoy discounts, and receive doorstep delivery.
Key Takeaways
- The anxiety disorders and depression treatment market in the UK to be worth US$ 665.5 Million by 2032, generating a dollar opportunity of US$ 141.2 Million
- European market for anxiety disorders and depression treatment is presumed to grow at a CAGR of 2.4%.
- In Europe, Poland and Romania have the lowest reported incidence of anxiety and depression.
- Greece has the highest depression prevalence, preceded by Spain and Portugal.
- In the Anxiety Disorders and Depression Treatment Market, the depression segment is taking central place.
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Competitive Landscape
Because of technological advancements, a large number of players are based in developing nations. However, because of modern connectivity, these participants have also penetrated emerging economies and are attempting to build an industry in these countries as well.
Market players intend to invest in technological innovations, mergers and acquisitions, new product launches, and study and development. Furthermore, they are likely to place a stronger emphasis on investing in novel developments and items to widen their market reach.
Recent Developments
- The European Medicines Agency (EMA) approved H. Lundbeck A/submission S’s for Vyepti for evaluation of the Marketing Authorization Application in December 2020. (MAA). The application requests that Vyepti be made available to European residents who undergo from migraine and are eligible for preventive care therapy. Vyepti’s objective is to avoid calcitonin gene-related peptide (CGRP) from interacting with its receptor, thereby preventing migraine attacks.
- Novartis announced in December 2020 that it would acquire Cadent Therapeutics for a total consideration of up to US$ 770 million. Novartis will be able to profit from Cadent’s entire neuroscience portfolio as a result of the acquisition, increasing its market share in the field of mental health.
- HMNC Brain Health reported encouraging top-line results from its Phase 2 Proof-of-Concept investigator-initiated trial of its oral prolonged-release composition of ketamine (KET01) in Treatment-Resistant Depression in March 2022. (TRD).
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Key Segments Covered in Anxiety Disorders and Depression Treatment Market Survey
Anxiety Disorders and Depression Treatment Market by Drug Class:
- Antidepressants
- Anxiolytics
- Anticonvulsants
- Noradrenergic Agents
- Atypical Antipsychotics
Anxiety Disorders and Depression Treatment Market by Indication:
- Anxiety
- Depression
Anxiety Disorders and Depression Treatment Market by Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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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.
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