Market Trends of Global Anxiety Disorders and Depression Treatment Industry
This section covers the major market trends shaping the Anxiety Disorders & Depression Treatment Market according to our research experts:
Major Depressive Disorder Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Major depressive disorder (MDD) is the leading cause of the global health-related burden of mental health conditions. During the COVID-19 pandemic, many uncertain factors affecting mental health accumulated, such as virus transmission, blockade and ban, public transport restrictions, closure of schools and enterprises, and reduction of social interaction, which led to an increase in the potential risk of MDD, further increasing the global health-related burden. Factors such as the increasing prevalence of major depressive disorder and rising product launches by various key players are expected to increase market growth in the forecast period. For instance, the article published in Elsevier Journal in October 2021 mentioned that the prevalence of major depressive disorder increased by 26.7% in 2021, and the total prevalence was 3152.9 cases per 100,000 population in 2020. Such prevalence of major depressive disorder among the global population is expected to drive the demand for effective treatment, thereby contributing to the market's growth over the forecast period.
On the other hand, increasing product launches by various key market players are expected to be another factor in the growth of the studied segment. For instance, in December 2021, Dr. Reddy launched venlafaxine ER Tablets in the U.S. market. The product is therapeutically equivalent to Venlafaxine Extended-Release Tablets, 150mg and 225mg, of Osmotica Pharmaceutical U.S. LLC. A selective serotonin and norepinephrine reuptake inhibitor (SNRI), Venlafaxine Extended-Release tablets, are indicated for major depressive disorder (MDD) and social anxiety disorder (SAD). Also, in October 2021, Biogen Inc. and Sage Therapeutics Inc. decided Sought FDA approval for zuranolone to treat MDD. The initial submission package for MDD will include data from ongoing pharmacology and clinical studies and data from the LANDSCAPE and NEST clinical trial program studies, including several studies examining the effectiveness of zuranolone in several thousand patients in various dosing, treatment paradigms, and clinical endpoints.
Thus, the abovementioned factors, such as the increasing prevalence of major depressive disorders and product developments, will likely increase the segment's growth.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
The North American region is expected to hold a notable share of the market over the forecast period. Factors such as the increasing prevalence of anxiety and depression disorders among the North American population, the presence of key market players, and a strong clinical pipeline are expected to increase the market's growth.
For instance, the data published by the Anxiety and Depression Association of America in 2022, anxiety disorder affects 6.8 million adults in the United States and affects over 31.9% of adolescents between 13 and 18 years old in 2021. Additionally, the Canadian Mental Health Association data published in July 2021, major depressive disorder affected approximately 5.4% of the Canadian population, and anxiety disorders affected 4.6% of the population in 2021. Thus, the increasing prevalence of anxiety disorders and depression among North American countries is expected to contribute to the growth of the market over the forecast period.
Likewise, the rising product approvals in this region are also expected to drive the growth of the market. for instance, in August 2022, the US FDA approved Axsome Therapeutics products, Auvelity for the treatment of major depressive disorder in adults. It is an orally administered product with a novel mechanism of action.
Thus, the increasing prevalence of anxiety disorder and depression, and increasing product approvals by various key market players are expected to contribute to the growth of the market over the forecast period.
