by Treatment Resistant Depression refers to depression that does not improve after several antidepressant medications or therapies have been tried. Some common antidepressant medications include selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), tricyclic antidepressants (TCAs) and more. These medications are often prescribed in combination with psychotherapy and lifestyle modifications for treatment of depression. However, about 30% of patients do not respond adequately to initial antidepressant treatment and are considered to have treatment resistant depression which requires intensive effort to find an effective treatment approach.
The global Treatment Resistant Depression Market is estimated to be valued at US$ 1220.12 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing adoption of combination therapies for treatment resistant depression is expected to drive the market growth over the forecast period. Combination therapies involve use of two or more antidepressant medications or antidepressant along with additional treatment options like electroconvulsive therapy and transcranial magnetic stimulation. Studies have shown improved treatment response with combination of different drug classes like SSRIs combined with mood stabilizers or antipsychotics compared to monotherapy. This has led to greater emphasis on development and adoption of combination therapies for difficult to treat depression cases.
SWOT Analysis
Strength: Treating treatment resistant depression provides avenues for multiple treatment interventions such as combination therapy and augmentation approach. This offers physicians options to explore new treatment pathways for effective management of the condition.
Weakness: Lack of standardized treatment protocols for management of treatment resistant depression leads to variations in treatment practices among healthcare professionals. This impacts treatment outcomes.
Opportunity: Rising cases of treatment resistant depression worldwide presents scope for companies to invest in development of novel drug formulations and therapies. This opens up possibilities of gaining first-mover advantage.
Threats: Stringent regulatory norms for approval of new drug candidates delay market launch and increase costs of drug development. This poses challenges for companies. Price controls and drug pricing policies across regions also impact revenue streams.
Key Takeaways
Global Treatment Resistant Depression Market Demand is expected to witness high growth. Regional analysis comprised North America captures a major chunk of the treatment resistant depression market share owing to growing mental health awareness and availability of advanced treatment options in the US and Canada. However, Asia Pacific region is poised to flourish at the fastest pace during the forecast period on account vast patient pool and improved access to diagnosis and care.
Key players operating in the treatment resistant depression market are AbbVie Inc., Eli Lilly and Company, GlaxoSmithKline Plc., Pfizer Inc., Bausch Health Companies Inc., Johnson & Johnson, Merck & Co., Inc., Viatris Inc., Otsuka Holdings Co., Ltd., H. Lundbeck A/S, AstraZeneca, and Aurobindo Pharma Ltd. Companies are investing in clinical trials and collaborations to expand their product portfolios of new drugs and combination therapies to tap the significant market potential.
The treatment resistant depression market is driven by growing diagnosis rates worldwide and rising burden of mental health disorders. Increasing awareness programs also support early identification of treatment non-response cases. This further fuels demand for more effective treatment regimens and management of chronic depression.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
