New York, October 05, 2021 – Reports and Data has published its latest report titled “Anxiety Disorder and Depression Treatment Market By Therapies (Cognitive Behavior Therapy (CBT)), By Drug Class (Antidepressant Drugs, Selective Serotonin Reuptake Inhibitors (SSRIs)), By Devices, By Application, and End-users, And Segment Forecasts To 2028”.
Rising incidence of depression, increasing awareness about mental health disorders, and rising prevalence of psychological conditions are some key factors driving market growth
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According to Reports and Data, the global anxiety disorder and depression treatment market size was USD 16.17 billion in 2020 and is expected to reach USD 19.53 billion in 2028 and register a revenue CAGR of 2.4% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities
Anxiety disorders and depression are a type of mental health condition. Anxiety makes it difficult for an individual to get through a day. Symptoms include feelings of nervousness, panic and fear as well as rapid heartbeat. Treatments include medications and cognitive behavioral therapy that helps an individuals to deal with such mental health conditions.
Increasing awareness about mental health disorder, especially during Covid 19 pandemic is expected to positively impact revenue growth of the market over the forecast period. Further, favorable government policies for drugs and therapies to prevent mental illness, and ensure socio-economic inclusion of individuals affected by mental illness by providing affordable, accessible, and quality health. For instance, organizations such as World Health Organization (WHO), and Live, Love Laugh Foundation has launched numerous mental health initiatives.
In addition, increase in alcohol and drug usage leading to multiple mental health disorders and anxiety, and the availability of better services and treatments dealing with anxiety are some other key factors contributing to the revenue growth of the market.
However, high cost in anxiety disorder and depression treatment is a major factor expected to restrain global anxiety disorder and depression treatment market revenue growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Electroconvulsive therapy (ECT) Type to Account for Largest Revenue Share:
Electroconvulsive therapy (ECT) segment is expected to account for largest revenue share in the global market over the forecast period as this is effective than medication or therapy. Electroconvulsive therapy (ECT) is a treatment for psychiatric disorders. This method involves passing a regulated electric current through the brain, which alters brain function and helps those with psychotic symptoms and severe depression. Today’s ECT is both safe and effective.
Selective Serotonin Reuptake Inhibitors Segment to Dominate Other Drug Class Segment:
Selective serotonin reuptake inhibitors segment is expected to dominate other application segment over the forecast period. These inhibitors are most commonly consumed antidepressants and is considered as safe can cause fewer side effects.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to increasing government investments in the mental disorders treatment, rising stressful working lifestyle, and presence of key participants in the region.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to growing incidence of mental health conditions, stressful lifestyle including work-associated or personal life stress. In addition, private and government investments for increasing awareness about mental health conditions among people especially in emerging economies namely India and China drive revenue growth of the APAC market.
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Major Companies in the Market Include:
- Pfizer
- Johnson & Johnson, Inc.
- Lundbeck A/S, Inc.
- GlaxoSmithKline plc.
- Sanofi- Aventis
- Merck & Company
- AstraZeneca PLC.
- Eli Lilly
- Forest Laboratories, and Company
- Bristol-Myers Squibb Company
Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global anxiety disorder and depression treatment market on the drug class, therapies, devices, application, end users, and region:
Drug Class Outlook (Revenue, USD Billion; 2020-2028)
- Selective Serotonin Reuptake Inhibitors (SSRIs)
- Antidepressant Drugs
- Tricyclic Antidepressants (TCAs)
- Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs)
- Monoamine Oxidase Inhibitors (MAOIs)
- Benzodiazepines
- Atypical Antipsychotics
- Anticonvulsants
- Beta-Blockers
- Others
Therapies Outlook (Revenue, USD Billion; 2020-2028)
- Electroconvulsive Therapy (ECT)
- Cognitive Behavior Therapy (CBT)
- Psychotherapy
- Deep Brain Stimulation
- Transcranial Magnetic Stimulation (TMS)
- Cranial electrotherapy stimulation (CES)
Devices Outlook (Revenue, USD Billion; 2018-2028)
- Cranial electrotherapy stimulator
- Fisher-Wallace stimulator market
Application Outlook (Revenue, USD Billion; 2018-2028)
- Phobia
- Major Depressive Disorder
- Obsessive-Compulsive Disorder (OCD)
- Post-traumatic stress disorder
- Others
End Users Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Mental healthcare centers
- NGOs
- Asylums
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.E.A
- South Africa
- Israel
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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