Antidepressant medications are driving growth in the anxiety disorders and depression treatment market in Europe, making it the second-largest participant in the field. This growth is attributed to increased investment in research and development and rising sales of anxiety-related products. The government’s objective of reducing the financial burden of these illnesses is expected to increase demand and ensure prompt treatment for anxiety and depression.
Major depressive disorder (MDD) is the primary cause of chronic health-related burden among all mental health disorders. The COVID-19 pandemic has exacerbated the problem by introducing various uncertain factors that impact mental health, including virus transmission, blockade and ban, public transportation constraints, school and business closures, and reduced social interaction. Consequently, the threat of MDD has increased, increasing the health-related burden and the demand for antidepressant drugs in Europe.
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Reimbursement regulations in developed nations for medications and therapeutic approaches, combined with their high levels of effectiveness, are expected to drive demand in the region during the forecast period. However, the high cost of equipment and therapies, such as anesthesia and hospitalization, has caused a shift in patient preference towards drugs. In terms of distribution channels, online channels are projected to have the highest CAGR in the anxiety and depression drugs market in Europe in the upcoming years. Consumers are attracted to the convenience of online shopping, including the ability to order from home, receive discounts, and obtain doorstep delivery.
Key Takeaways
- The anxiety disorders and depression treatment market in the U.K to be worth US$ 665.5 Million by 2032, generating a dollar opportunity of US$ 141.2 Million
- European market for anxiety disorders and depression treatment is presumed to grow at a CAGR of 2.4%.
- In Europe, Poland and Romania have the lowest reported incidence of anxiety and depression.
- Greece has the highest depression prevalence, preceded by Spain and Portugal.
- In the Anxiety Disorders and Depression Treatment Market, the depression segment is taking central place.
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Competitive Landscape
Because of technological advancements, a large number of players are based in developing nations. However, because of modern connectivity, these participants have also penetrated emerging economies and are attempting to build an industry in these countries as well.
Market players intend to invest in technological innovations, mergers and acquisitions, new product launches, and study and development. Furthermore, they are likely to place a stronger emphasis on investing in novel developments and items to widen their market reach.
Recent Developments
- The European Medicines Agency (EMA) approved H. Lundbeck A/submission S’s for Vyepti for evaluation of the Marketing Authorization Application in December 2020. (MAA). The application requests that Vyepti be made available to European residents who undergo from migraine and are eligible for preventive care therapy. Vyepti’s objective is to avoid calcitonin gene-related peptide (CGRP) from interacting with its receptor, thereby preventing migraine attacks.
- Novartis announced in December 2020 that it would acquire Cadent Therapeutics for a total consideration of up to US$ 770 million. Novartis will be able to profit from Cadent’s entire neuroscience portfolio as a result of the acquisition, increasing its market share in the field of mental health.
- HMNC Brain Health reported encouraging top-line results from its Phase 2 Proof-of-Concept investigator-initiated trial of its oral prolonged-release composition of ketamine (KET01) in Treatment-Resistant Depression in March 2022. (TRD).
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Key Segments Covered in Anxiety Disorders and Depression Treatment Market Survey
Anxiety Disorders and Depression Treatment Market by Drug Class:
- Antidepressants
- Anxiolytics
- Anticonvulsants
- Noradrenergic Agents
- Atypical Antipsychotics
Anxiety Disorders and Depression Treatment Market by Indication:
- Anxiety
- Depression
Anxiety Disorders and Depression Treatment Market by Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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