Market Size of Global Treatment-Resistant Depression Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Treatment-Resistant Depression Market Analysis
The Treatment- Resistant Depression market is projected to register a CAGR of 4% during the forecast period.
During COVID-19, the mental state of the individuals was greatly affected, and consequently, most of the persons were suffering from different psychiatric and neuropsychiatric disorders. As per the study published in October 2020, titled 'The Impact of the COVID-19 Pandemic on the Health and Coping Behaviors of Patients With Treatment-Resistant Depression' the COVID-19 pandemic has affected the health of patients with TRD in both positive and negative ways. As the goal of government preventive strategies is to protect and promote public health, regular attention should be paid to the negative effects of long-term exposure to pandemic-related news on this vulnerable population. Therefore, COVID-19 has provided the opportunity for market players for innovative and effective treatment procedures to address the global burden of such increasing anxiety disorders, thereby it is expected to impact the market positively.
The market is majorly driven by rising cases of depression, increasing awareness about depression, and the emergence of novel drugs. According to the World Health Organization (WHO), data updated in June 2021, more than 700,000 people suicide every year, and it is the fourth leading cause of death among 15-19-year-olds. Similarly, In countries such as the United Kingdom in the United States, which are characterized by their fast-paced economies, the percentage of the affected population of every age is quite high. According to the Anxiety and Depression Foundation facts and statistics updated in June 2022, generalized anxiety disorder will affect 6.8 million adults or 3.1% of the United States population per year. Thus, the rising cases of depression across the world are expected to drive the overall growth of the market studied over the forecast period.
Moreover, the manufacturer's interest in developing new medication the United States Food and Drug Administration (USFDA) approval is triggering the growth of the market. For instance, in July 2022, Abbott received the United States Food and Drug Administration's approval to use its deep brain stimulators (DBS) device for treatment-resistant depression (TRD). Moreover, in March 2019, the FDA approved Spravato-non-competitive N-methyl D-aspartate (NMDA) receptor antagonist, in conjunction with an oral antidepressant, for the TRD treatment in adults. It is the first-ever approved NMDA therapy for TRD.
However, severe high costs and a rise in adverse drug reactions significantly hinder the market's growth.
