Dublin, Aug. 30, 2024 (GLOBE NEWSWIRE) — The “Anxiety Disorders and Depression Treatment Global Market Report, Forecast by Product, Indication, Country and Company Analysis 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The Anxiety Disorder and Depression Treatment Market will increase from US$ 19.39 billion in 2023 to US$ 32.25 billion by 2032, at a CAGR of 5.82% from 2024-2032
Young adults’ increased rates of anxiety and depression are a complicated problem with many underlying reasons, such as excessive social media use, pressure to perform well in school, and financial stress, all of which are contributing to the market’s expansion. Young adults, generally characterized as those in the 18-30 age range, are among the age groups most susceptible to the dangers of anxiety and depression.
The Economic Cost of Mental Illnesses to Drive Product Demand
Due to the immense financial and emotional strain that mental health diseases place on people, families, and society at large, the prevalence of these disorders is rising quickly in both adults and children worldwide. There will be economic ramifications to this in the future. The WHO estimates that the cost of mental health issues in wealthy nations is between 3% and 4% of GDP (gross national product). Consequently, governments’ efforts to lessen the financial burden of these illnesses are likely to increase consumer demand for products that provide prompt treatment of depression and anxiety.
Sturdy Medication Pipelines to Support Development Prospects
Globally, there is an acceleration of research and development aimed at providing advanced patient care for mental health diseases. Treatment pipeline candidates for depression and anxiety disorders have increased as a result of creative trials that resulted in combination therapies using either novel or existing medication molecules. For example, Luye Pharma reported in March 2020 that the US Food and Drug Administration (FDA) has accepted its new drug application for the depressive medication LY03005.
Strong support for research and development funding from national and international healthcare organizations is also anticipated to create a variety of prospects in the market for the treatment of depression and anxiety disorders. This is expected to support market expansion, along with consumers’ growing demand for novel medications that are introduced to the market.
North America Anxiety Disorders and Depression Treatment Market Overview
Over the course of the forecast period, the North American region is anticipated to occupy a significant share of the market. The frequency of anxiety and depressive disorders among North Americans is rising, and the industry is predicted to develop due to factors like these, as well as the presence of major competitors and a robust clinical pipeline.
According to data released by the Anxiety and Depression Association of America in 2022, for example, anxiety disorder affected approximately 31.9% of adolescents between the ages of 13 and 18 in 2021 and 6.8 million people in the United States. Furthermore, according to data released by the Canadian Mental Health Association in July 2021, 5.4% of Canadians suffered from severe depressive disorder, and 4.6% from anxiety disorders. Thus, during the course of the forecast period, the rising frequency of depression and anxiety disorders in North American nations is anticipated to fuel market expansion.
In a similar vein, it is anticipated that the increasing number of product approvals in this area will propel market expansion. For instance, Axsome Therapeutics’ Auvelity medication was approved by the US FDA in August 2022 to treat major depressive disorder in adults. It is a medication taken orally that works in a unique way.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 – 2032 |
| Estimated Market Value (USD) in 2023 | $19.39 Billion |
| Forecasted Market Value (USD) by 2032 | $32.25 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Company Analysis
- Abbvie
- Bristol-Myers Squibb Company
- Eli Lily & Co
- GlaxoSmithKline
- H. Lundbeck A/S
- Johnson & Johnson
- Merck & Co. Inc
- Pfizer Inc
- Sanofi-Aventis
- Axsome Therapeutics
Product: Market is divided into 3 viewpoints
- Antidepressant Drugs
- Therapy and Devices
- Others
Indication: Market is divided into 4 viewpoints
- Obsessive-Compulsive Disorder
- Major Depressive Disorder
- Phobia
- Others
Country: Market is divided into 24 Countries
North America
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Netherlands
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Malaysia
- Indonesia
- Israel
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/8yr8d9
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- Anxiety Disorders and Depression Treatment Global Market
