Treatment resistant depression refers to a condition where depression persists despite adequate treatment with antidepressants of two different pharmacological classes. It affects approximately 30% of those suffering from depression. Treatment resistant depression is treated through a combination of antidepressant medications, electroconvulsive therapy (ECT), psychotherapy, and other non-pharmacologic therapies. Antidepressants such as selective serotonin reuptake inhibitors (SSRIs), serotonin-norepinephrine reuptake inhibitors (SNRIs), and noradrenergic and specific serotonergic antidepressants (NaSSAs) are commonly used pharmacological treatment options for treatment resistant depression.
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.
The global treatment resistant depression market is primarily driven by the growing adoption of non-pharmacological therapies such as transcranial magnetic stimulation (TMS) therapy and deep brain stimulation (DBS). TMS therapy utilizes magnetic pulses to stimulate areas of the brain associated with mood regulation, whereas DBS involves surgically implanting electrodes in specific areas of the brain that control mood and anxiety. Compared to medications, non-pharmacological therapies offer more targeted treatment with relatively fewer side effects. Their adoption has increased significantly in recent years due to favorable clinical evidence demonstrating their effectiveness in reducing symptoms of treatment resistant depression.
Market Dynamics:
The global treatment resistant depression market is driven by the growing adoption of non-pharmacological therapies such as TMS and DBS, as mentioned in the heading. TMS therapy uses magnetic pulses to stimulate areas of the brain associated with mood regulation and has demonstrated significant antidepressant effects. DBS surgery implants electrodes in areas of the brain that control mood and anxiety. Compared to antidepressants, these non-pharmacological options provide targeted treatment with relatively fewer side effects. As such, their adoption has increased substantially in recent years owing to promising clinical evidence demonstrating effectiveness in reducing symptoms of treatment resistant depression when medication is not enough. Additionally, advancements in technologies used for non-pharmacological treatments are also fueling market growth. For instance, new TMS devices feature improved magnetic pulse generators that allow for deeper brain stimulation thereby enhancing therapeutic effects. Such technological upgrades are further supporting adoption of non-pharmacological therapies for treatment resistant depression.
Segment Analysis
The treatment resistant depression market is segmented into drugs, devices and psychotherapy. Among these, the drugs segment dominates the market and accounts for over 85% share owing to high demand of antidepressant drugs for treatment resistant depression. Some of the commonly prescribed antidepressant drugs include serotonin-norepinephrine reuptake inhibitors (SNRIs), selective serotonin reuptake inhibitors (SSRIs) and tricyclic antidepressants (TCAs). Among these, SNRIs sub-segment dominates the drugs segment due to its high efficacy and improved tolerability in patients with depression.
PEST Analysis
Political: Governments across the globe are undertaking various initiatives and programs to spread awareness about mental health issues like depression. They are also providing subsidies and reimbursements for depression treatment drugs and devices to improve accessibility.
Economic: Improvement in economic conditions has increased disposable incomes facilitating better access to advanced depression treatment options. Rising healthcare spends of individuals on mental health issues is also driving the market growth.
Social: Reducing social stigma around mental illnesses and greater acceptability of seeking professional help has encouraged more people to get treated. Social media influences are also playing a role in promoting open discussions around mental well-being.
Technological: Advances in neuromodulation devices like transcranial magnetic stimulation (TMS) therapy and developments in new drug delivery systems are offering more effective treatment choices for patients not responding to usual therapies.
Key Takeaways
Global Treatment Resistant Depression Market Demand is expected to witness high growth backed by rising prevalence of depression globally. According to WHO, over 280 million people are estimated to suffer from depression worldwide with nearly one-third of them being treatment resistant.
Regional analysis:
North America dominates the global market currently due to robust healthcare infrastructure and significant patient awareness levels regarding available treatment options. However, Asia Pacific region is witnessing fastest gains and will emerge as the most lucrative market in the coming years supported by improving access to care and massive patient population base suffering from mental health issues.
Key players operating in the treatment resistant depression market are AbbVie Inc., Lupin, Eli Lilly and Company, GlaxoSmithKline Plc., Pfizer Inc., Bausch Health Companies Inc., Sanofi, Mallinckrodt, Johnson & Johnson, Merck & Co., Inc., Viatris Inc., Otsuka Holdings Co., Ltd., H. Lundbeck A/S, AstraZeneca, and Aurobindo Pharma Ltd. Majority of key players are focusing on introducing novel drug formulations and combining existing drugs with devices to offer more effective solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it