Press release
Major Depressive Disorder Market Report 2024: Strategies And Recent Developments | Pfizer Inc., Janssen Research And Development LLC, Merck and Co. Inc., Novartis AG, Sanofi-Aventis US LLC
Major Depressive Disorder Market Characteristics
The Business Research Company offers in-depth market insights through Major Depressive Disorder Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The major depressive disorder market size has grown steadily in recent years. It will grow from $5.96 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to pharmaceutical advances, mental health awareness, psychological therapies, public health initiatives.
The major depressive disorder market size is expected to see steady growth in the next few years. It will grow to $6.84 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to precision medicine, telepsychiatry and teletherapy, novel treatment modalities, global expansion of mental health services. Major trends in the forecast period include early intervention, peer support and online communities, holistic approaches, resilience and coping strategies.
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Market Segmentation:
The main treatments for major depressive disorder are psychotherapy, medications, electroconvulsive therapy (ECT), transcranial magnetic stimulation (TMS) and others. Psychotherapy refers to a therapeutic approach that involves a trained mental health professional helping individuals or groups address emotional, psychological and behavioral issues. It can be diagnosed with physical examinations, laboratory tests, psychiatric evaluations, diagnostic and statistical manual of mental disorders (DSM-5) and others by several end-users including hospitals, clinics and others.
Major Driver - Surge In Substance And Alcohol Abuse Cases Amplifies Growth In Major Depressive Disorder Market
The rise in cases of substance abuse and alcohol abuse is expected to propel the growth of the major depressive disorder market. Substance and alcohol abuse are terms used to describe patterns of excessive and harmful use of substances, including alcohol, that can lead to negative physical, psychological and social consequences. It commonly co-occurs with major depressive disorder and both conditions tend to feed off each other and significantly increase the risk of physical and mental harm. For instance, in December 2022, according to reports shared by the Office for National Statistics (ONS), a UK-based government department, in 2022, 862,000, or 2.6%, of adults between the ages of 16 and 59 reported using drugs, compared to 2.1% in 2020. Furthermore, in December 2022, according to a report published by Kirin Holdings Company Limited, a Japan-based beverage company, around 185.60 million kiloliters of beer were consumed globally in 2021, an increase of 4.0% from the year before. Therefore, the rise in cases of substance abuse and alcohol abuse is driving the growth of the major depressive disorder market.
Competitive Landscape:
Major players in the major depressive disorder market are Pfizer Inc., Janssen Research And Development LLC, Merck and Co. Inc., Novartis AG, Sanofi-Aventis US LLC, Bristol Myers Squibb Co., AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Biogen Inc., Otsuka Pharmaceuticals Co.Ltd., Forest Laboratories Inc., H. Lundbeck A/S, Richter Gedeon PLC, Allergan PLC, Neurocrine Biosciences Inc., BlackThorn Therapeutics Inc., Intra-Cellular Therapies Inc., Axsome Therapeutics Inc., Luye Pharma Group, BioLite Inc., BrainsWay Ltd., Neumora Therapeutics Inc., Chase Therapeutics Corporation, SAGE Therapeutics Inc., Arrivo Bioventures LLC, Relmada Therapeutics Inc., Fabre-Kramer Pharmaceuticals Inc., Vistagen Therapeutics Inc.
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Top Trend - Innovative Approaches And Approvals Reshaping Major Depressive Disorder Treatment Market
Major companies operating in the major depressive disorder market focus on developing innovative products and getting them approved to gain a competitive advantage. Drug approvals for major depressive disorder treatment, such as VRAYLAR (cariprazine), are increasing due to the need for more effective and safer treatments. For instance, in December 2022, AbbVie Inc., a US-based pharmaceutical company, received approval for VRAYLAR (cariprazine) as an adjunctive therapy to antidepressants for the treatment of major depressive disorder (MDD) in adults from the Food and Drug Administration (FDA), a US-based federal agency. VRAYLAR is an innovative atypical antipsychotic medication that balances dopamine and serotonin levels in the brain. It is the first atypical antipsychotic to be approved as an adjunctive treatment for major depressive disorder. Additionally, it is available in capsule form and is taken once daily.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Major Depressive Disorder Market Characteristics
3. Major Depressive Disorder Market Trends And Strategies
4. Major Depressive Disorder Market - Macro Economic Scenario
5. Major Depressive Disorder Market Size And Growth
…..
27. Major Depressive Disorder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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