The treatment resistant depression market comprises drugs and therapies used for the treatment of major depressive disorder (MDD) or clinical depression that has failed to respond adequately to at least two different antidepressants belonging to different classes or families. Treatment resistant depression (TRD) is a severe form of depression that does not respond to at least two different antidepressant medications of adequate dose and duration in the current depressive episode. It affects around 10-30% of patients with MDD. There has been a steady rise in the prevalence of clinical depression over the years due to various factors such as changes in lifestyle, increased stress levels, and family history of mood disorders. The Global treatment resistant depression market is estimated to be valued at US$ 1405.58 Mn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Treatment Resistant Depression Market Demand 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. These players are focusing on developing innovative therapies through research and development.
The key opportunities in the market include strong product pipeline, improving diagnosis rates, and growing awareness about TRD. Multiple pharmaceutical companies are conducting clinical trials for new drug candidates to treat TRD.
There is a rising global demand for effective TRD treatment options. The major players are expanding their presence in emerging markets of Asia Pacific, Latin America, and Middle East & Africa through collaborations and partnerships with local players.
Market Drivers
Improving diagnosis rates- Better understanding of the disease and advancement in diagnostic approaches have enhanced the diagnosis of TRD, thereby driving the market growth.
Strong research and development- Extensive R&D efforts by pharmaceutical companies for developing novel drugs and therapies have expanded treatment options.
Market Restraints
High cost of branded drugs- Expensive branded drug therapies for TRD pose affordability challenges, hence limiting their adoption in developing nations.
Lack of approved therapies- There are only a few FDA approved therapies available for TRD treatment presently, restricting treatment options.
Segment Analysis
The treatment resistant depression market is dominantly divided into selective serotonin reuptake inhibitors (SSRIs), serotonin–norepinephrine reuptake inhibitors (SNRIs), tricyclic antidepressants, monoamine oxidase inhibitors (MAOIs) and others sub segments. The SSRIs sub segment is leading the market currently with over 35% share owing to its better efficacy and safety profile compared to other anti-depressants. SSRIs are first line treatment and many patients respond positively to them.
Global Analysis
North America currently captures over 45% share of the global treatment resistant depression market. Presence of advanced healthcare infrastructure as well as supportive reimbursement policies for novel therapeutics is fueling market growth in the region. Initiatives by governments in spreading awareness about depression and availability of advanced therapeutics are propelling the regional market. Asia Pacific is poised to be the fastest growing market during the forecast period. Rising incidences of major depression disorders coupled with increasing healthcare expenditure is boosting the Asia Pacific market.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it