Initiatives undertaken to spread awareness on mental health will fuel demand for treatment-resistance depression treatment
NEW YORK, NY / ACCESSWIRE / March 10, 2021 / Market research firm Fact.MR ongoing study presents bullish outlook on the treatment-resistance depression treatment market. As per the World Health Organization's (WHO's) factsheet, more than 264 million people worldwide of various age groups suffer from depression. Coupled with this, the prevalence of treatment-resistant depression is peaking, especially in America and several countries across Europe.
Treatment-resistant depression (TRD) continues to be one of the highly neglected public health issue. A BMC Psychiatry study has found that treatment resistance is common among patients identified with major depressive disorders. Against this backdrop, the demand for treatment-resistance depression treatment is poised to surge.
While government initiatives towards promoting mental health will remain a chief growth driver, patent-expiry of key antidepressants will create obstacles. Nonetheless, focus on unremitted depression is expected to increase as market players take up various trials and clinical studies. These factors are expected to steer growth in the market.
"Prevalence of stage 1 treatment resistance depression is at 2-3% worldwide, while stage 2 TRD prevalence is estimated to be around 1.5-2%. With the prevalence unlikely to slowdown, effective treatment for the condition is the need of the hour. Thanks to various initiatives undertaken by government and non-government institutions alike, stigma associated with metal health is blurred. In the coming years, the demand for treatment resistance depression treatment is poised to surge," said a lead analyst at Fact MR.
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Key Takeaways from Fact.MR's Treatment-resistance Depression Treatment Market Report
- Demand in North America is expected to rise backed by increasing healthcare spending
- High prevalence of depression among U.S. adults make the country a lucrative market
- With diagnoses of mental health issues surging, the U.K. will present conducive environment for growth of the market
- Lack of awareness and treatment algorithms are restricting expansion in India, nonetheless government initiatives will pave way for growth in future
- Action plans launched by government departments to focus on child and adolescent mental health are enabling growth in China
Treatment-resistance Depression Treatment Market - Prominent Drivers
- Increasing prevalence of mental health issues, especially depression and anxiety in adults creating growth opportunities
- Government initiatives to improve mental health care and make them more accessible will drive growth
- Increasing prevalence of sedentary lifestyle will contribute to depression, thus enabling growth in the market
Treatment-resistance Depression Treatment Market - Key Restraints
- Low acceptance of mental disorders might hamper growth in developing countries
- Patent-expiration of antidepressants emerges as key hurdle for market players
Discover more about the treatment-resistance depression treatment market with figures data tables and table of contents. You can also find detailed market segmentation at https://www.factmr.com/report/3147/treatment-resistance-depression-treatment-market
Some of the leading players operating in the market are AstraZeneca plc, Pfizer, Inc., GlaxoSmithKline plc, Eli Lilly and Company, Bristol-Myers Squibb, Forest Laboratories (Allergan plc), Janssen Pharmaceuticals, Inc., Schering Plough Corporation, Vistagen Therapeutics, Inc., Wyeth and others.
Maximum number of companies in the market will continue focusing on developing newer and more effective drugs. Besides this, inorganic strategies including merger and acquisition and strategic collaborations will remain highly sought-after among the market players.
More Insights into Treatment-resistance Depression Treatment Market
In its latest report, Fact.MR offers unbiased analysis of the global treatment-resistance depression treatment market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of drug class (tricyclic antidepressants (TCAs), monoamine oxidase inhibitors (MAOIs)), serotonin norepinephrine reuptake inhibitors (SNRIs), selective serotonin reuptake inhibitors (SSRIs), serotonin neurotransmitter (5-HT2)-receptor antagonists, and novel agents), application (depression, anxiety, mental disorder), and end user (mental hospitals and psychiatric clinics) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan, and Middle East & Africa)
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