The global Anxiety Disorders and Depression Treatment Market was valued at approximately USD 11.2 billion in 2021. With a projected CAGR of 3.4% over the next decade, the market is anticipated to reach nearly USD 16.1 billion by the end of 2032.
Key Drivers of Market Growth
Several factors are expected to drive the growth of the anxiety disorders and depression treatment market in the coming years:
- Collaborative Efforts to Raise Awareness: Joint initiatives by pharmaceutical companies, non-governmental organizations (NGOs), mental health advocacy groups, and government bodies are focusing on raising public awareness about anxiety and depression. These efforts aim to reduce stigma, encourage treatment, and improve overall mental health literacy.
- Increasing Prevalence of Mental Health Disorders: The growing recognition of anxiety disorders and depression as significant public health issues is expected to lead to an increase in diagnosis and treatment-seeking behavior among individuals affected by these conditions.
- Advancements in Treatment Options: The development of new and more effective therapies, including medications and therapeutic interventions, is likely to expand treatment options for patients, further driving market growth.
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.
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.
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).
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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