North America is expected to show the highest revenue growth and hold the largest market shares in the global treatment-resistant depression treatment market due to advanced healthcare infrastructure and healthcare spending.
NEWARK, Del, Dec. 16, 2022 (GLOBE NEWSWIRE) — The global market for treatment-resistant depression therapy is experiencing rapid growth as the prevalence of depression and anxiety disorders continues to rise among adults, exacerbated by an aging population. By 2033, it is expected to reach US$4.0 billion in accumulated value, thanks to entirely new treatments being developed through innovative routes such as nasal inhalants or direct intravenous administration – providing relief where traditional methods have previously failed.
Despite the widespread use of traditional antidepressants to treat depression, patients often take up to six weeks to see an effect. However, new research has shown that administering antidepressants via intranasal means can lead to better results faster – in just 24 hours! This was demonstrated by Novartis Pharmaceuticals’ upcoming antidepressant MIJ821 and published in the January 2022 edition of the journal Pharmacopsychiatry; where clinical trials showed participants demonstrated significant reductions in depressive episodes after just one day.
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In addition, the overall findings showed that treatment with intranasal esketamine in combination with a new oral antidepressant was more effective than placebo plus oral administration. The intranasal esketamine showed a rapid reduction in depressive symptoms and delayed relapse time. In addition, such increasing research and development for advanced drugs through other routes of administration is expected to increase the demand for the drugs thereby increasing the overall market growth.
According to the World Health Organization (WHO), the prevalence of mental disorders and conditions is increasing around the world. There has been a 13% increase in mental illness and other depressive disorders over the past decade. According to the U.S. Department of Health and Human Services (HHS), in 2020, of adolescents between the ages of 12 and 17, 17.0% (approximately 4.1 million residents) had a major depressive episode (MDE) and 12% (approximately 2.9 million people) had MDE with severe disabilities.
Key points from the market study
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The global market for treatment-resistant depression therapies was valued at $1.55 billion by the end of 2022
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From 2018 to 2022, market demand grew at a CAGR of 3.3%
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By drug type, the NMDA segment of the market makes up the largest share of the market with a market share of 49%
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By distribution channel, the Hospital Pharmacies segment dominates the market with a share of 47%
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From 2023 to 2033, sales of drug-resistant depression therapies are expected to flourish at a CAGR of 9.0%.
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By 2033, the market value of treatment-resistant depression therapies is expected to reach $4.0 billion
“The rising geriatric population is one of the factors expected to drive the growth of the depression treatment resistance market as the treatment resistance for depression treatment is high in this age group population,” notes one FMI analyst.
Competitive landscape
Prominent players in the drug resistant depression therapies market include 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.
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Recent developments:
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In August 2022, Merck Sharp & Dohme LLC initiated a Phase IIa clinical trial to evaluate the safety and efficacy of MK-1942 in treatment-resistant depression patients.
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In July 2022, Novartis Pharmaceuticals announced that it would initiate a Phase 2 clinical trial of MIJ821 (ketamine) for treatment-resistant major depressive disorder in September 2022.
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In May 2022, at the annual meeting of the American Psychiatric Association in New Orleans, COMPASS Pathways presented positive data for a Phase IIb trial of COMP360 psilocybin therapy for treatment-resistant depression therapies.
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In February 2022, Denova Biopharma obtained US FDA approval to initiate a Phase 2b clinical trial to analyze the efficacy and safety of DB104 (liafensine) in patients with treatment-resistant mood disorder.
Knowing more About What the Treatment-resistant depression therapies Covers for remarketing
Future Market Insights provides an objective analysis of the global Treatment-Resistant Depression Therapeutics market, with historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand the opportunities of the Treatment-Resistant Depression Therapeutics market, the market has been segmented on the basis of drug type and distribution channel into five major regions.
Main segments covered in the Treatment-resistant depression therapies Industry analysis
Treatment-resistant depression therapies Market by Drug Type:
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NMDA
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Antidepressants
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Antipsychotics
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Others
Treatment-resistant depression therapies Market by distribution channel:
Treatment-resistant depression therapies Market by region:
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North America
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Latin America
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Europe
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South Asia and the Pacific
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East Asia
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Middle East & Africa
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Index
1. Summary
1.1. Global Market Outlook
1.2. Trends on the demand side
1.3. Trends on the supply side
1.4. Technology Roadmap Analysis
1.5. Analysis and recommendations
2. Market overview
2.1. Market Coverage / Taxonomy
2.2. Market definition / scope / limitations
3. Market background
3.1. Market dynamics
3.1.1. Drivers
3.1.2. limits
3.1.3. Opportunity
3.1.4. trends
3.2. Scenario prediction
3.2.1. Question in optimistic scenario
3.2.2. Question in probable scenario
3.2.3. Question in conservative scenario
3.3. Opportunity map analysis
3.4. Feasibility matrix for investments
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About the healthcare Division at Future Market Insights
Future Market Insights’ care team provides expert analysis, time-saving research and strategic recommendations with the goal of providing authentic insights and accurate results to help clients around the world. With a repertoire of more than 100 reports and more than 1 million data points, the team has been analyzing the industry with clarity in more than 50 countries for over a decade. The team provides a brief analysis of key trends, including the competitive landscape, profit margin, and research and development efforts.
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