Depression Therapy and Treatment market refers to the market for treatment of depression conditions through several techniques such as psychodynamic therapy, interpersonal therapy, and cognitive behavioural therapy. Devices market is driven by growing preference amongst physicians and patients’ due to lesser side effects. The global Depression Therapy and Treatment market is anticipated to grow at a CAGR of 1.40% over the forecast period 2016-2023.One of the major reasons behind this is patent expiration of major drugs and increasing use of the generic drugs. The high priced branded drugs have been replaced by generic drugs which are three times cheaper as compared to the former.
There are many treatment options available for people coping with depression. Medications and talk therapy are the most common treatments, but other options are available. The major drivers of the global depression therapy and treatment market are as follows:
- Growing acceptance of depression in the developing nations
- Increase in sales of antidepressants due to unhealthy life styles
The antidepressants market in the US is among the highest in the world and is expected to grow as they are taken not only for depression but also for diseases that are not related to depression such as the non-psychological issues such as sleeplessness, eating disorders, neuropathic pain, obsessive compulsive disorder, substance abuse etc. USFDA has approved use of antidepressants for treating other conditions as well. Besides several block buster antidepressants have gone off-patents and this has led to physicians prescribe antidepressants more and more. There is no permanent cure for depression and therefore the global antidepressants market for drugs and devices continues to expand. In fact, as the awareness of depression as a disease grows globally the number of patients seeking treatment is increasing exponentially thereby pushing up the demand for antidepressant devices and drugs. Varying response to antidepressants and other treatment options depends on history of trauma early in life which is strongly correlated with shrinkage of the hippocampus, a brain region critical to memory and learning.
W.H.O estimates that there are over 350 million people in world who suffer from depression and the depression treatment market has a huge potential to grow. The prevalence rates are very high in the Asia Pacific and African regions (4-7%). According to the W.H.O depression will soon replace heart disease as the heaviest disease burden on countries.
Source: OBRC Analysis
Depression treatment market is segmented on the basis of antidepressants drugs, devices and therapies. Antidepressants are the largest market segment.
On the basis of anti-depression drugs, global depression therapy and treatment market is segmented in to
- ATYPICAL ANTIDEPRESSANTS
- SELECTIVE SEROTONIN REUPTAKE INHIBITORS (SSRIS)
- TRICYCLIC ANTIDEPRESSANTS
- OTHERS
On the basis of device enabled therapies, segmented into:
- DEEP BRAIN STIMULATOR
- FISHER WALLACE STIMULATOR
- SMARTPHONE APPLICATION
- TRANSCRANIAL MAGNETIC STIMULATOR
- VAGUS NERVE STIMULATOR
- VIRTUAL REALITY therapies
- OTHER DEVICES
ON the basis of therapies:
- Cognitive Behavior Therapy (CBT)
- Electroconvulsive Therapy (ECT)
- Rational emotive behavior therapy (REBT)
- Device enabled therapies
- Other
Antidepressants are the most popular treatment methods. Every year more than five billion prescriptions are written globally. Antidepressants segment consists of big pharmaceuticals companies like Eli Lily, Pfizer, GlaxoSmithKline and Forest Laboratories. All these companies are branded drug manufacturers. Some of the popular drugs produced by these companies are Cymbalta (Eli Lily) and Effexor and Pristiq (Pfizer). The devices market is the fastest growing market segment.
The revenue for the above, antidepressants, type of depression and depression treatment devices segments are specific to the anti-depression therapy and treatment market. However, the total revenue of these segment in general has been excluded from the scope of the report.
Geographically, the global depression therapy and treatment market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America is anticipated to account for the largest market share from 2016-2023. Asia Pacific is expected to be the fastest growing region for the depression therapy & treatment market. Asia pacific is currently ranked third in terms of revenue from the depression drugs and devices market. However, with a strongly emerging generic drugs market in China and India the market is expected to witness an upward shift. Asia Pacific has over 100 million patients suffering from various mental health diseases. Asia pacific has countries with very poor mental healthcare systems. The level of awareness regarding depression is very low. The market, however, will grow due to increasing awareness of depression in major economies like India, China, Japan and Korea.
The major market players of the global depression treatment therapy market are:
- ABBOTT
- ALLERGAN
- ELI LILLY AND COMPANYGLAXOSMITHKLINE
- MAYO CLINIC
- OTHERS
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. such as Product launch (March 17, 2015):- Actavis plc has recieved FDA approval regarding their depression drug, Viibryd a lower dose of (20 mg). This drug from now onwards can be applied as a monotherapy for acute manic or mixed episodes linked with bipolar I disorder in paediatric patients.
Merger (April 14, 2017):- Abbott has announced to sign an agreement with Alere Inc. to work together which will significantly expand Abbott's global diagnostics presence and leadership. Alere offers actionable and reliable information by enhancing clinical and economic healthcare outcomes and providing rapid diagnostic tests across the world
Sales of branded drugs were $7.9 billion in 2013 globally from $11 billion in 2011. Patents expired for several blockbuster branded drugs such as Prozac, Zoloft, Lexapro, and Cymbalta and generic drug manufacturers are making these drugs now. Duloxetine (Cymbalta), which had a market of $5.2 billion (2013) is expected to see the market shrunk to $3.06 billion by 2021. In the early 2000, Prozac, one of the most popular drugs had a sale of $2.5 billon, which fell to $177 million in 2002 after patent expiration. Similarly, Zoloft peaked to $3.3 billion (2005) before falling to $477 million after patent expiration in 2006. Major factors expected to drive the depression drugs market, globally, are fall in the prices of antidepressants due to the entry of generic drugs, and increasing awareness of depression as a disease.
Why to buy the report:
This report will provide you:
- Provide you the business strategies adopted by market player such as merger, Abbott has announced to sign an agreement with Alere Inc.
- Provide in detail the different segments such as by products and end-users which are affecting the global depression therapy and treatment market.
- Provide you the patent analysis of the depression therapy and treatment market.
- Identify, understand, and the strength, opportunities, challenges and threat of the depression therapy and treatment market.
- Provide revenues of major players of the market such as Abbott, Allergen
- Provide you various the regulatory policies which are affecting the global depression therapy and treatment market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global depression therapy and treatment market offers the longest chain of market segmentation covering major market segmentation based on antidepressants, device enabled therapies. Report tracks the major market trends in the global depression therapy and treatment market such as growing depression rate in developing nations and unhealthy lifestyle growing sales of antidepressants and so on. For each market segments covered in global depression therapy and treatment market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the depression therapy and treatment industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global depression therapy and treatment market:
- Growing depression rate in developing nations and unhealthy lifestyle growing sales of antidepressants is fuelling growth in global depression therapy and treatment market.
- North America is anticipated to account the largest revenue share in 2016.
- Serotonin-norepinephrine reuptake inhibitors (SNRIs) is the major segment of anti-depression drug.
- Increasing government support.
- Product launch and merger are the key strategy adopted by the various market players of global depression therapy and treatment market.
