Global Anxiety Disorders And Depression Treatment Market Analysis & Forecast 2024-2034: Market By Drug Class; By Indication; By Distribution Channel; and By Region - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Anxiety Disorders And Depression Treatment Market Analysis & Forecast 2024-2034: Market By Drug Class; By Indication; By Distribution Channel; and By Region" report has been added to ResearchAndMarkets.com's offering.

The global anxiety disorders and depression treatment market size was estimated to be USD 21.56 billion in 2023 and is expected to reach at USD 41.83 billion by 2034 with a CAGR of 6.21% during the forecast period 2024-2034.

Surge in prevalence of anxiety disorders & depression, growing awareness regarding the disorders among population, rising innovative product launches by key market players, increasing focus on development of novel therapies, growing investment for research by major market players, surge in novel drug approvals by regulatory bodies, and rising research & development activities for the development of innovative drugs for the treatment of anxiety & depression disorders are some of the key factors boosting the market growth.

Rising research & development activities for the development of innovative drugs for the treatment of anxiety & depression disorders is predicted to boost the market growth during the forecast period. For instance, in February 2022, AbbVie has sent an additional application to the US Food and Drug Administration (FDA) for the medication cariprazine (marketed as VRAYLAR). This application pertains to the use of cariprazine as an add-on treatment for individuals with major depressive disorder (MDD) who are already undergoing antidepressant therapy.

By drug class, antidepressants was the highest revenue-grossing segment in the global anxiety disorders and depression treatment market in 2023 owing to growing prevalence of major depressive disorder, increasing focus on manufacturing of advanced antidepressant drugs, and rising number of approvals for antidepressant drugs.

For instance, in August 2022, Axsome Therapeutics has received approval from the US FDA for its product, Auvelity, designed to treat major depressive disorder in adults. This orally taken product operates through an innovative mechanism of action. Additionally, anxiolytics is predicted to grow at fastest CAGR during the forecast period owing surge in prevalence of mental cases, increasing investment in research & development activities, rising demand for novel therapies, and growing product approvals by regulatory bodies.

By indication, major depressive disorder (MDD) was the highest revenue-grossing segment in the global anxiety disorders and depression treatment market in 2023 owing to the growing prevalence of major depressive disorder, increasing product launches by major market players, and rising regulatory approvals. For instance, in February 2023, Biogen Inc. and Sage Therapeutics, Inc. have declared that the U.S. Food and Drug Administration (FDA) has acknowledged the submission of a New Drug Application (NDA) for zuranolone, intended for the treatment of major depressive disorder (MDD) and postpartum depression (PPD).

Zuranolone is an experimental medication currently under assessment as a once-daily oral treatment with rapid effects over a 14-day period for adults dealing with MDD and PPD. Additionally, obsessive-compulsive disorder is predicted to grow at fastest CAGR during the forecast period owing growing demand for antidepressants, rising prevalence of mental illness, and increasing focus on development of innovative products.

By distribution channel, hospital pharmacies was the highest revenue-grossing segment in the global anxiety disorders and depression treatment market in 2023 owing to a rise in the number of patients seeking treatment & the sales of medications obtained by prescription for the treatment of MDD & other depressive disorders, increasing launch of new products by leading market players, and growing initiatives by major market players. For instance, in April 2023, A Phase 2/3 clinical trial to evaluate ulotaront has begun, according to Sunovion Pharmaceuticals Inc. (Sunovion) and Otsuka Pharmaceutical Development & Commercialization, Inc. (Otsuka).

The first patient has been chosen in the experiment. Ulotaront is a substance that also functions as a 5-HT1A agonist and activates the trace amine-associated receptor 1 (TAAR1). This study is focused on examining its potential for treating generalized anxiety disorder (GAD). Additionally, online pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of anxiety, growing penetration of online pharmacies, and surge in number of internet users.

North America region is anticipated for the highest revenue share during the forecast period owing to the growing prevalence of anxiety & depression disorders, presence of major market players, increasing demand for antidepressant drugs, rising research & development activities, and surge in product approvals by regulatory bodies. For instance, in April 2023, VistaGen has unveiled fresh data, showcased at the 2023 Anxiety and Depression Association of America (ADAA) Conference, which provides additional validation for the suggested mechanism of action (MOA) of fasedienol (PH94B). This investigational pherine nasal spray is currently in Phase 3 development for addressing social anxiety disorder (SAD). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of mental disorders, growing demand for advanced therapies, and increasing initiatives by leading market players.

For instance, in February 2023, PureTech Health plc, a clinical-stage biopharmaceutical firm committed to transforming the approach to managing severe illnesses, has revealed its intention to progress with the development of LYT-300 (oral allopregnanolone) as a possible therapy for anxiety disorders and postpartum depression (PPD).

Key Attributes:

Company Profiles

• Axsome Therapeutics
• Abbvie
• Biogen Inc.
• Bristol-Myers Squibb Company
• Merck & Co. Inc
• AstraZeneca
• Eli Lily & Co
• GlaxoSmithKline
• Sage Therapeutics Inc
• H. Lundbeck A/S
• Johnson & Johnson
• Pfizer Inc
• Dr. Reddy's Laboratory
• Sanofi-Aventis
• Forest Laboratories

   

   

Segmentation: Anxiety Disorders And Depression Treatment Market Report 2022 - 2033

Anxiety Disorders And Depression Treatment Market Analysis & Forecast by Drug Class 2023 - 2034 (Revenue USD Bn)

• Antidepressants
• Anxiolytics
• Anticonvulsants
• Noradrenergic Agents
• Atypical Antipsychotics

Anxiety Disorders And Depression Treatment Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)

• Phobia
• Major Depressive Disorder
• Obsessive-Compulsive Disorder
• Others

Anxiety Disorders And Depression Treatment Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)

• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies

Anxiety Disorders And Depression Treatment Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

North America

• U.S.
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA

For more information about this report visit https://www.researchandmarkets.com/r/2p5s3z

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