The global Treatment Resistant Depression Market is estimated to be valued at US$ 1220.12 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Treatment resistant depression refers to major depressive disorder that does not respond adequately to antidepressant medication and/or evidence-based psychotherapy after multiple treatment attempts. Treatment resistant depression products involve a combination of drugs and ketamine therapy which act as fast-acting antidepressants.
Market key trends:
Ketamine therapy has emerged as one of the most effective treatment options for patients with treatment resistant depression. Ketamine works differently than other antidepressants and provides rapid relief within hours from depressive symptoms. It is believed to work on the glutamate system in the brain rather than traditional antidepressants that impact serotonin and norepinephrine. Ketamine therapy aims to provide an option for the large number of patients for whom standard antidepressants provide little or no relief.
Segment Analysis
The treatment resistant depression market is segmented by treatment type into pharmacotherapy and psychotherapy. The pharmacotherapy segment is expected to dominate the market over the forecast period due to the availability of new drug formulations and combinations that offer higher efficacy. Within pharmacotherapy, neuromodulation drugs are witnessing high growth owing to advantages such as improved therapeutic outcomes compared to traditional antidepressants.
Key Takeaways
The Global Treatment Resistant Depression Market Size is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing prevalence of depression coupled with rising awareness and diagnosis.
The market size for treatment resistant depression is estimated to reach US$ 1220.12 Mn in 2023.
Regional analysis - North America is expected to dominate the global market over the forecast period, owing to the presence of major market players and availability of advanced treatment options in the region. Asia Pacific is anticipated to exhibit fastest growth attributed to growing healthcare spending and improving access to treatment.
Key players operating in the treatment resistant depression market are AbbVie Inc., Lupin, Eli Lilly and Company, GlaxoSmithKline Plc., Pfizer Inc., Bausch Health Companies Inc., Sanofi, Mallinckrodt, Johnson & Johnson, Merck & Co., Inc., Viatris Inc., Otsuka Holdings Co., Ltd., H. Lundbeck A/S, AstraZeneca, and Aurobindo Pharma Ltd. Major players are focusing on new drug launches and acquisitions to strengthen their market position.
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