Major Depressive Disorder Treatment Market Growth Accelerated by Rising Prevalence of Depressive Disorder
Major Depressive Disorder Treatment Market |
Major Depressive Disorder (MDD), also known as clinical depression, is a common and serious mental illness that negatively affects mood, thoughts, behavior, feelings and physical health. It is estimated that more than 264 million people suffer from depression globally. The rise in prevalence of depressive disorders can mainly be attributed to factors such as stressful lifestyle, substance abuse, genetics and medical illnesses. Depressive disorder treatments include antidepressants, psychotherapy and counseling that help in managing the symptoms effectively.
The global
Major Depressive Disorder Treatment Market is estimated to be valued at US$
13.63 Bn in 2024 and is expected to exhibit a CAGR of 24.% over the forecast
period 2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
One of the key trends fueling the growth of major depressive disorder treatment
market is rising adoption of electronic therapy. Electronic therapy involves
use of digital devices and mobile applications for delivering psychological
therapy to the patients. It provides convenience and overcomes limitations such
as accessibility and cost associated with traditional face-to-face therapy
sessions. Online cognitive behavioral therapy programs facilitate remote
monitoring of the patients and enable delivery of treatment anytime, anywhere
which is boosting their demand. Moreover, incorporation of technologies such as
virtual reality and artificial intelligence in electronic therapy is further
augmenting the market growth by offering personalized and more effective
treatment experiences to depressive disorder patients.
Segment
Analysis
The global major depressive disorder treatment market is dominated by the
antidepressants sub segment. Antidepressants are the first line treatment for
major depressive disorder and various new drug launches and strong pipeline
will continue to drive the growth of this sub segment in the coming years.
Key Takeaways
Global
Major Depressive Disorder Treatment Market Size is expected to witness
high growth during the forecast period of 2024-2031. The increasing mental
health awareness programs and reducing stigma associated with depressive
disorders are driving the growth of the major depressive disorder treatment
market globally.
Regional analysis: North America currently dominates the global major
depressive disorder treatment market owing to growing acceptance of novel drug
therapies and rising mental health burden in the region. However, Asia Pacific
region is expected to witness fastest growth due to rising geriatric
population, growing penetration of health insurance, and improving healthcare
infrastructure in emerging countries of the region.
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