Treatment Resistant Depression Market is Estimated to Witness High Growth Owing to Opportunity of Rising Disease Prevalence
Treatment Resistant Depression Market is Estimated to Witness High Growth Owing to Opportunity of Rising Disease Prevalence
Treatment Resistant Depression Market

Treatment resistant depression refers to a major depressive episode that fails to respond adequately to adequate pharmacotherapy with antidepressants. Factors such as genetic predisposition and other psychiatric comorbidities may contribute to treatment resistant depression. There is need for newer therapeutic options for patients suffering from treatment resistant depression as existing therapies have limited efficacy. 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.

Market Opportunity:
Rising disease prevalence presents a high growth opportunity for players in treatment resistant depression market. It is estimated that nearly 30% of patients diagnosed with major depressive disorder do not respond to initial antidepressant therapy. This non-response rate further increases with each subsequent treatment attempt. With limited therapeutic alternatives, there is a significant unmet need for more effective and newer treatment options for treatment resistant depression patients. Development of innovative drugs and therapies targeting novel mechanisms can help address this large patient population and drive the market growth over the forecast period.

Porter’s Analysis
Threat of new entrants:The treatment resistant depression treatment market requires high R&D investments and clinical trial costs pose significant entry barriers. Bargaining power of buyers:The presence of few alternative treatment options gives buyers less bargaining power. Bargaining power of suppliers:Established drug manufacturers and suppliers have significant bargaining power over buyers in this market. Threat of new substitutes:New substitute treatments can pose a major threat given the lack of effective alternatives currently available. Competitive rivalry:The market is highly competitive with major players continuously investing in R&D to develop novel therapies.

SWOT Analysis
Strengths: Major players have strong R&D capabilities and pipelines. Weaknesses: Low treatment response rates and recurrence of symptoms is a major concern. Opportunity 1: High unmet needs present scope for innovation and market expansion. Opportunity 2: Emerging economies present large untreated patient populations. Threat 1: Stringent regulatory approval process raises development costs. Threat 2: Patents expiration of blockbuster drugs allows entry of generics.

Key Takeaways
Global Treatment Resistant Depression Market Demand is expected to witness high growth over the forecast period driven by large patient pools and increasing awareness. The United States dominates the market currently due to supportive reimbursement policies and widespread diagnosis. Regional growth is expected to be faster in emerging Asian countries due to improving access to care.

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. All major players are focusing on developing novel drug candidates and combinations to address the significant unmet needs in treatment resistant depression management. 

Get More Insights on this Topic- https://www.dailyprbulletin.com/treatment-resistant-depression-market-value-analysis-and-forecast/ 

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