Anxiety and Depression Treatment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Anxiety Disorders and Depression Treatment Market
The anxiety disorders and depression treatment market size was valued at USD 8.50 billion in 2019, and the market is now projected to grow from USD 10.89 billion in 2020 to USD 13.03 billion in 2027, exhibiting a CAGR of 2.6% during the forecast period of 2020-2027.
The COVID-19 pandemic played an Essential role in the anxiety disorders and depression treatment market growth due to the growing need for mental health treatment. Telemedicine And teletherapy become significant more than 70% of high-profit nations use it for affected-person consultancies. The pandemic brought about elevated pressure and tension, driving higher medicine adoption. Pharmaceutical companies focused on balancing supply and demand to maintain sales. This shift in mental health needs contributed to the market's growth during the pandemic.
Mental health disorders are becoming more common as they impose a growing financial and psychological load on civil societies, families, and all affected persons. Mental health problems claimed about 3% to 4% of developed nations' Gross National Product (GNP). Governments are focused on reducing this economic impact, driving demand for products to manage anxiety and depression. This growing need for effective treatment solutions is expected to boost anxiety disorders and depression treatment market share. Addressing the economic burden of mental disorders will propel the demand for related products.
Additionally, mental health treatment market companies are focusing on robust research and development to improve treatment options. Strategic agreements, collaborations, and increased funding are key to their efforts. Despite limited awareness, demand for effective drugs remains high. This growing demand for novel treatments is driving research and development investments. The market is predicted to look for continued innovation and improvement of the latest intellectual fitness solutions.
Comprehensive Analysis of Anxiety Disorders and Depression Treatment Market
The anxiety disorders and depression treatment market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by drug class, by indication and by distribution channel. The drug class includes, Antidepressants, Anxiolytics, Anticonvulsants, Noradrenergic Agents, and Atypical Antipsychotics. The indication includes, Anxiety and Depression. The distribution channel includes, Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy.
North America has even estimated the market for 2019 to be USD 4.44 billion. This region now has a higher market share because the incidence of anxiety and related disorders, such as depression, has risen among United States residents. Another key driver promoting the growth of the regional market is that it is home to key players in the industry, accompanied by the regular release of new products.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Pfizer Inc. (New York, U.S), H. Lundbeck A/S (Denmark, Europe), GlaxoSmithKline plc (Brentford, U.K), Merck & Co. Inc. (New Jersey, U.S), Eli Lilly and Company (Indiana, U.S), Johnson & Johnson (New Jersey, U.S), AstraZeneca (Cambridge, U.K), Bristol-Myers Squibb (New York, U.S) and Other Players. These market players provide a level-playing competitive landscape.
In July 2021, Alembic Pharma gained USFDA approval for desipramine hydrochloride, which is formulated into tablets of 10 mg, 25 mg, 50 mg, 75 mg, 100 mg, and 150 mg, for treating depression.
Segmentation Table
Global Anxiety Disorders and Depression Treatment Market Scope
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Growth Rate CAGR of 2.6% from 2020 to 2027
Historical Period 2016-2018
Unit Value (USD billion)
Segmentation By Drug Class, Indication, Distribution Channel, and Region
By Drug Class
Antidepressants
Anxiolytics
Anticonvulsants
Noradrenergic Agents
Atypical Antipsychotics
By Indication
Anxiety
Depression
By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
By Geography
North America (Drug Class; Indication; Distribution Channel)
USA (By Indication)
Canada (By Indication)
Europe (Drug Class; Indication; Distribution Channel)
The U.K. (By Indication)
Germany (By Indication)
France (By Indication)
Italy (By Indication)
Spain (By Indication)
Scandinavia (By Indication)
Rest of Europe (By Indication)
Asia Pacific (Drug Class; Indication; Distribution Channel)
Japan (By Indication)
China (By Indication)
India (By Indication)
Australia (By Indication)
Southeast Asia (By Indication)
Rest of Asia Pacific (By Indication)
Latin America (Drug Class; Indication; Distribution Channel)
Brazil (By Indication)
Mexico (By Indication)
Rest of Latin America (By Indication)
The Middle East & Africa (Drug Class; Indication; Distribution Channel)
GCC (By Indication)
South Africa (By Indication)
Rest of Middle East & Africa (By Indication)