The depression treatment market is valued at USD 11 billion in 2024. It is anticipated to grow at a CAGR of 5.2% during the assessment period and reach a value of USD 18.3 billion by 2034.
| Attributes | Description |
|---|---|
| Estimated Depression Treatment Market Size (2024E) | USD 11 billion |
| Projected Depression Treatment Market Value (2034F) | USD 18.3 billion |
| Value-based CAGR (2024 to 2034) | 5.2% |
With workload stress, increasingly hectic lifestyles, and more societal pressures, among others, the rates of depression around the world are climbing. There is hence an even more pronounced need for depression treatment. As campaigns are launched by both governments and private stakeholders, there is increasing awareness about mental health. As a result, sufferers are getting less hesitant about seeking out treatment.
The 2023 value of the depression treatment market was USD 10.5 billion, while in 2024 the value is estimated to be USD 11 billion, a Y-o-Y growth of 5%. Drugs are the preferred form of treatment for the majority of patients, expected to account for 99.4% of the market share in 2024.
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Depressive disorders around the world are on the up. According to the World Health Organization (WHO), more than 280 million people worldwide suffer from depression.
Increasing urbanization is one of the key factors in the rise in number of people seeking treatment for depression. As urbanization increases, the working class does too, leading to increased work-related stress. A significant portion of the urban population suffers from economic problems too, further leading to depression.
On the other hand, the urban population is also more inclined to seek out depression treatment. The availability of multiple avenues for treatment and advanced medical facilities means the customer for the market is most likely to be urban. The following table provides the urbanization rate as well as the urban population of some major countries.
Campaigns are being run to inform people better about the need for mental health problems. Government organizations, health institutions, health influencers, and more are undertaking efforts to educate people about problems like depression.
A prime example of such efforts is the WHO celebrating World Mental Health Day. There are also corporate efforts like Bell Let’s Talk, by the corporate entity Bell Canada. Social media is a prominent avenue for these campaigns, with the reach of social media being utilized to reach a wide geographical base.
These campaigns serve to normalize treatment for mental health problems. Hence, the stigma is taken off of mental health treatment, benefitting depression treatment efforts as well.
The primary problem stakeholders face in the market is the side effects associated with depression medication. Side effects like nausea, weight gain, and insomnia make patients hesitant about the medication.
One notable side effect which curtails adoption among males is the risk of sexual dysfunction. A 2023 study published in the Annals of General Psychiatry established the link between serotonin reuptake inhibitors (SSRIs) and sexual dysfunction. The study found that taking serotonergic antidepressant treatment commonly leads to sexual dysfunction.
Further, the study also found that the condition persisted even after medication was discontinued, termed post-SSRI sexual dysfunction (PSSD). Hence, males of a certain age are less inclined to take depression treatment.
While advanced medications make treatment easier and potentially more effective, they also cost a pretty penny. Novel treatments like esketamine nasal sprays and neuromodulation devices (e.g., transcranial magnetic stimulation), while exciting steps forward in depression treatment, are costly and hence out of the range of the price-sensitive patient.
Campaigns to raise awareness about mental problems may be on the rise, but social stigmas still persist about mental health. This problem is particularly prevalent in developing and underdeveloped nations. These social stigmas limit the adoption of depression treatment.
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Recognizing the wide variety of problems related to depression, treatment for depression is switching towards becoming more personal. Companies are focusing on advancements in genetics, neurobiology, and data analytics to allow for more personalized treatment.
Genetic makeup is being studied to make suitable treatment plants for individual patients. Genetic tests like GeneSight, CNSDose, and IDgenetix are being administered for more accurate treatment plans.
Similarly, research on biomarkers such as brain-derived neurotrophic factor (BDNF) levels, inflammatory markers, and neurotransmitter imbalances is increasing. These biomarkers help doctors measure and predict behavioral patterns, helping with preventive depression treatment.
Another significant headway in personalized treatment has been the introduction of AI. AI is helping professionals to analyze patient data and come up with customized treatment plans. The prevailing notion among stakeholders is that personalized depression treatment is the way forward.
Drug treatment products come in the form of drugs and Traditional Chinese Medicine (TCM). Drugs are the go-to choice for most sufferers.
Drugs are expected to account for a dominant 99.4% of the market share in 2024. Drugs are the standard form of treatment for depression. They are trusted by both patients as well as medical professionals. Therapists also prescribe them to help with treatment.
Drug use for depression treatment is further incentivized by the launch of novel products with enhanced capabilities to treat the problem. For instance, the Food and Drug Administration (FDA) approved drugs like gepirone ER (Exxua) and Zuranolone (Zurzuvae). The former targets stimulating serotonin receptors, while the latter is targeted towards treating postpartum depression.
Depression treatment aims to treat various types of the disease, including major depression, persistent depressive disorder, bipolar disorder, Seasonal Affective Disorder (SAD), postpartum depression, Premenstrual Dysphoric Disorder (PDD), situational depression, atypical depression, and treatment-resistant depression. Among these, treatment is most sought for major depression, expected to account for 53.7% of the market share in 2024.
Sufferers of major depression require extensive treatment. Hence, the volume of treatment they receive is often larger than for depression disorders. Sufferers of major depression also generally require treatment for a prolonged period of time.
Depression treatment is distributed through hospitals, retail pharmacies, drug stores, e-commerce, and specialty clinics. Hospitals continue to be the place where most drug treatment is dispensed. The presence of trusted medical professionals leads to patients seeking hospitals for treatment options. Further, in underdeveloped areas, hospitals are often the only place where depression treatment can be sought.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 1.7% |
| China | 5.4% |
| India | 6.1% |
| Spain | 3.2% |
| United Kingdom | 2% |
The United Kingdom depression treatment market is estimated to advance at a CAGR of 2% over the 2024 to 2034 period. In the United Kingdom, about 4.5% of the population is estimated to suffer from depression. Rates are also noticeably higher in young adults and women.
Those with depression in the United Kingdom benefit from the National Health Service (NHS) providing thorough depression treatment. Medication like citalopram and sertraline and therapy through the Improving Access to Psychological Therapies (IAPT) program are provided to the population. Hence, companies focus on public health initiatives for development in the country. However, long waiting times in hospitals hinder treatment efforts.
The adoption of digital healthcare apps has increased in the country. Digital platforms like SilverCloud are hence enjoying increasing demand in the country. With mental problems being the leading cause of disability in the country the government has prioritized mental treatment. Programs like Time to Change are working to reduce stigma and improve treatment.
The depression treatment market in China is expected to register a CAGR of 5.4% from 2024 to 2034. Increasing urbanization, characterized by a rise in the working population, is also leading to a rise in mental problems. Due to societal pressures and work stress, problems like depression are proliferating. Approximately 4.2% of the Chinese population suffers from depression.
However, only about 10% of those with depression actively consult professionals or seek treatment for the problem. Societal stigma regarding mental health and the lack of mental health resources in rural areas contribute to the lackluster penetration of depression medication in the country. Companies have to combat these constraints by increasing awareness and making medication available more thoroughly in rural areas.
One advantage for players in China is that traditional Chinese medicine already has treatments for mental problems. Herbal treatments and exercises like tai chi and qi gong are traditionally used to treat depression. Companies are incorporating these traditional techniques to appeal to more Chinese customers.
Depression treatment is also getting a helping hand from government initiatives targeting mental health. For instance, the Healthy China 2030 initiative aims to incorporate digital health platforms into the treatment of mental health.
The depression treatment market in the United States is set to progress at a CAGR of 1.7% from 2024 to 2034. According to the National Institute of Mental Health (NIMH), about 21 million adults went through at least one major depressive episode in 2021 in the United States. This number becomes even more concerning when it comes to adolescents, with 17% of those aged between 12-17 suffering from the condition.
However, the rate of treatment is also high in the United States. Around 66% of those diagnosed with depression go through treatment of some kind. This indicates a willingness among the American population to take medication and go through therapy. Hence, the country is significant for market players.
The United States market is also characterized by the impetus for innovation. Novel products like esketamine nasal sprays and SSRIs like fluoxetine and sertraline are becoming popular as treatments in the country.
The competitive landscape of the market is varied. Pharmaceutical giants, biotech innovators, and rapidly developing digital health platforms dot the landscape, vying for a share of the pie. However, companies have to contend with several issues in their quest to increase revenue.
To come up with novel treatments and medication, companies have to invest significantly in research and development. Smaller enterprises and emerging players often struggle with this, requiring significant funding drives. Companies also have to deal with stringent approval processes, especially for novel drugs like esketamine.
Companies also have to address the stigma associated with depression treatment, especially in underdeveloped and developing nations. Companies are hence launching campaigns and partnering with mental health institutions to raise awareness about the condition.
The following table highlights the prominent areas of focus for some of the prominent companies in the market.
| Company | Area of Focus |
|---|---|
| Pfizer Inc. |
|
| Eli Lilly and Company |
|
| Johnson & Johnson (Janssen Pharmaceuticals) |
|
| GlaxoSmithKline (GSK) |
|
| AbbVie |
|
| Axsome Therapeutics |
|
| Sage Therapeutics |
|
| NeuroRx |
|
| BetterHelp (Teladoc Health) | Online therapy services |
| Woebot Health | AI-driven chatbot |
The market is segmented into drugs and TMS devices based on the products.
Based on the distribution channel, the market is segmented into hospitals, retail pharmacies, drug stores, e-commerce, and specialty clinics.
In terms of diseases, the market is segmented into major depression, persistent depressive disorder, bipolar disorder, Seasonal Affective Disorder (SAD), postpartum depression, Premenstrual Dysphoric Disorder (PDD), situational depression, atypical depression, and treatment-resistant depression.
Based on the region, the market is segmented into North America, Latin America, Europe, South Asia, East Asia, Middle East & Africa, and Oceania.
The depression treatment market is worth USD 11 billion (2024 E)
The market is set to reach a valuation of USD 18.3 billion by 2034.
The USA is the largest market, whereas India market is growing at a high rate of 6.1% CAGR through 2034.
| Market Value (2022) | USD 115.1 Million |
|---|---|
| Market Anticipated Forecast Value (2032) | USD 173.9 Million |
| Market Projected Growth Rate (2022 to 2032) | 3.8% |
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