Treatment resistant depression (TRD) refers to depression that does not respond to at least two different antidepressant treatments of adequate dose and duration in the current episode. Some signs and symptoms of TRD include persistent low mood, diminished pleasure or lack of interest in activities, changes in appetite or weight, insomnia or excessive sleeping, fatigue or loss of energy, feelings of worthlessness or excessive guilt, difficulty thinking or concentrating, and recurrent thoughts of death or suicide ideations. Advancements in neuroscience have led to a deeper understanding of the biological basis of depression. As such, there is an increased focus on development of novel treatment approaches. Research studies are being conducted to evaluate safety and efficacy of novel pharmacological and non-pharmacological treatment options. Additionally, there is also significant investment in development of personalized treatments tailored as per individual patient characteristics.

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 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The global treatment resistant depression (TRD) market growth is majorly driven by rising research and development activities focused on development of novel therapeutics. According to Coalition Against Major Diseases, pharmaceutical companies have invested over US$ 2.6 Bn annually since 2011 on research to develop new drugs for TRD. Majority of the current pipeline drugs are novel formulations and reformulations of existing antidepressant medications combined with other pharmacological or non-pharmacological agents. Additionally, the growth is also supported by increasing cases of TRD globally. As per estimates by National Institute of Mental Health, approximately 30-50% of people with MDD are treatment resistant. With rising disability burden of depression, there is growing need for more effective therapeutic options. However, high attrition rates during clinical development and stringent regulatory processes continue to pose significant challenges to market growth.

Segment Analysis
The treatment resistant depression market is segmented into psychotherapy, medication, deep brain stimulation and ketamine therapy. The medication segment dominates the market and accounts for over 50% market share. This is because medication has been the first line of treatment for depression by healthcare providers. Psychotherapy and deep brain stimulation are also gaining traction in countries where healthcare infrastructure supports such therapy methods. However, the ketamine therapy segment is witnessing highest growth during the forecast period due to increasing success rates of ketamine therapy in treatment resistant depression cases.

PEST Analysis
Political: Governments across various countries are supporting clinical research for treatment resistant depression. There are also favorable reimbursement policies for approved therapy methods.
Economic: Rising healthcare spending and increasing disposable income in developing countries is driving market growth. However, high cost of novel therapies is also a barrier.
Social: Reducing social stigma around mental health issues is encouraging more people to seek professional help for depression. Support groups are creating awareness.
Technological: Advances in neuroimaging, biomarkers and other areas are aiding in better understanding of treatment resistant depression. New therapy technologies like vagus nerve stimulation and deep TMS are being researched.

Key Takeaways
The global treatment resistant depression market share is expected to witness high growth.

Regional analysis comprises: North America dominates the market currently due to presence of major players and advanced healthcare infrastructure for novel therapies. Asia Pacific is the fastest growing region due to rising healthcare awareness, healthcare reforms and growing disposable income.

Key players operating in the treatment resistant depression market are HempFlax, Cavac Biomateriaux, BaFa, Hemp Planet, Dunagro, American Hemp, Hempline, Hemp Inc, Ecofibre, GenCanna, Hemp Oil Canada, Hemp Poland, Plains Industrial Hemp Processing, Colorado Hemp Works, MH Medical Hemp, Hempco, Hempfield Farms, Hemp Tech, Tilray, Canopy Growth. Tier 1 players are focusing on novel therapy research while tier 2 players are expanding geographically.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it