The global Treatment-Resistant Depression Treatment Market size is expected to be valued at US$ 1.69 Billion in 2023. With the increasing prevalence of depression and anxiety disorders in adults, coupled with the aging population, the overall demand for treatment-resistant depression treatment is projected to grow at a CAGR of 9.0% between 2023 and 2033, totaling around US$ 4.0 Billion by 2033. The rising occurrence of Treatment-Resistant Depression has generated consciousness regarding its treatment. Various market players are developing advanced drugs that can be administered through nasal and intravenous routes rather than the traditional oral route of administration.
The traditional antidepressants used for this disorder treatment require at least 4-6 weeks to produce an effect with a risk of incomplete or poor outcomes through the oral route of administration, whereas the intranasal has been found to produce better results within hours of administration. For instance, in January 2022, as per the article published by Pharmacopsychiatry, the novel pipeline antidepressant MIJ821 of Novartis Pharmaceuticals demonstrated a more significant reduction in depressive episodes within 24 hours of administration via infusion weekly among patients.
Request Sample Copy of Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-15965
In addition, the overall findings displayed that treatment with intranasal esketamine in amalgamation with a novel oral antidepressant was more efficient than a placebo plus an oral administration. The intranasal esketamine showcased a prompt drop of depressive symptoms and postponed its relapse time. Furthermore, such increasing research & development for advanced drugs through other routes of administration is projected to surge the demand for drugs, thereby augmenting the overall market growth.
As per the World Health Organization (WHO), prevalence of mental health disorders as well as conditions is increasing across the globe. There has been a 13% increase in mental health conditions and other depressive disorders in the last decade. According to the U.S. Department of Health and Human Services (HHS), in 2020, among adolescents between ages 12 and 17, 17.0% (about 4.1 million population) had major depressive episode (MDE), and 12% (about 2.9 million people) had MDE with severe impairment.
Key Takeaways from the Market Study
- Global treatment-resistant depression treatment market was valued at US$ 1.55 Billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 3%
- By drug type, the NMDA segment of the market constitutes the bulk of the market with a market share of 49%
- By Distribution Channel, the Hospital Pharmacies segment dominates the market with a share of 47%
- From 2023 to 2033, Treatment-Resistant Depression Treatment sales are expected to flourish at a CAGR of 0%.
- By 2033, the market value of Treatment-Resistant Depression Treatment is expected to reach US$ 0 Billion
“The rising geriatric population is one of the factors that is anticipated to boost the growth of treatment-resistance depression treatment market, as the treatment-resistance depression treatment is high in this age group population,” remarks an FMI analyst.
Get a Discount@ https://www.futuremarketinsights.com/request-discount/rep-gb-15965
Competitive Landscape
Prominent players in the treatment-resistant depression treatment market are Janssen Global Services, LLC, AbbVie Inc., Sandoz International GmbH (Novartis AG), H. Lundbeck A/S, Par Pharmaceutical (Endo International plc), Otsuka Pharmaceutical Co., Ltd., and AstraZeneca, among others.
Recent Developments:
- In August 2022, Merck Sharp & Dohme LLC initiated Phase IIa clinical trial to evaluate the safety and efficacy of MK-1942 among treatment-resistant depression patients.
- In July 2022, Novartis Pharmaceuticals announced that it would initiate a Phase 2 clinical trial of MIJ821 (ketamine) for treatment-resistant depressive disorders in September 2022.
- In May 2022, COMPASS Pathways presented positive data for Phase IIb study of COMP360 psilocybin therapy for treatment-resistant depression treatment at the American Psychiatric Association annual meeting in New Orleans.
- In February 2022, Denova Biopharma secured U.S. FDA approval to initiate a Phase 2b clinical trial to analyze the efficacy and safety of DB104 (liafensine) in patients with treatment-resistant mood disorder.
Key Segments Covered in the Treatment-Resistant Depression Treatment Industry Analysis
Treatment-Resistant Depression Treatment Market by Drug Type:
- NMDA
- Antidepressants
- Antipsychotics
- Others
Treatment-Resistant Depression Treatment Market by Distribution Channel:
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
Treatment-Resistant Depression Treatment Market by Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-15965
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs
