Depression Therapeutics Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

Depression Therapeutics Market is expected to grow at a significant CAGR during the forecast period. The rise in the geriatric population and changes in people's lifestyles are two primary factors driving the market growth. The ageing population is anticipated to grow continuously, at a uniform rate in the next 10 years. For instance, according to the World Health Organization (WHO), the number of people aged 60 years or above was around 900 million in 2015 and it is estimated to reach nearly 2.0 billion in 2050, with most of the increase in the developing countries. In 2019, in Japan, people aged 65 years or above held 28% of the total country's population (126 million) and followed by it, Italy held 23%. Depression is one of the major conditions amongst older people having a significant effect on their well-being and quality of life.

People are being made aware of depression through public awareness campaigns. Although public awareness is growing, this ailment is still underdiagnosed and undertreated. The patient is treated with a combination of psychotherapy and antidepressants. Selective serotonin reuptake inhibitors are predicted to lead the drug class segment during the forecast period owing to the high level of effectiveness and general safety. Additionally, North America depression therapeutics market is significantly driven by significant antidepressant consumption in the US, branded medications, and an active lifestyle. Moreover, Europe depression therapeutics market is driven by the rising public knowledge about depression and improved healthcare facilities and initiatives by various government and non-government organisations.

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Market Coverage

· The market number available for - 2022-2030

· Base year- 2022

· Forecast period- 2021-2030

· Segment Covered

· Regions Covered- Globally

Competitive Landscape: Pfizer, Inc., Eli Lilly Co., H. Lundbeck A/S, and Otsuka Holdings Co., Ltd., among others.

Depression Therapeutics Market Report by Segment

By Drug Type

• Antidepressants

• Antipsychotics

• Others

By Indication

• Major Depressive Disorder (MDD)

• Bipolar Disorder

• Seasonal Affective Disorder (SAD)

• Premenstrual Dysphoric Disorder (PMDD)

• Others

By Distribution Channel

• Hospital Pharmacies

• Retail Pharmacies

• Online Pharmacies

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Depression Therapeutics Market by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

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