Global Major Depressive Disorder (MDD) Treatment Market Is Anticipated To Witness High Growth Owing To Growing Prevalence Of Anxiety Disorders And Rising Awareness Associated With Anxiety Disorders And Depression

Major Depressive Disorder (MDD) Treatment Market

Overview:

Depression is more than just feeling sad or having the “blues.” It’s a serious medical condition that affects people from all walks of life. It causes a change in how people think, feel, and act. It can interfere with everyday activities and lead to feelings of hopelessness, helplessness, and sadness. It can also cause physical symptoms like chronic pain or gastrointestinal problems. For depressed patients, a healthcare team will create a personalized treatment plan. It may include medication, psychotherapy, or a combination of both. Psychotherapy, or talk therapy, can be done alone or in groups with others with the same condition. It can help in learning how to cope with depression and improve relationships in life. The most common medications used to treat depression are antidepressants. They can take a few weeks to start working.

 

Market Dynamics:

Increasing product launches are estimated to augment the growth of the global market during the forecast period. For instance, venlafaxine ER Tablets were launched by Dr. Reddy, in the US market in December 2021. This product is therapeutically equivalent to Venlafaxine Extended-Release Tablets of Osmotica Pharmaceutical U.S. LLC. Moreover, the rising cost of treatment and the stigma attached to mental health is anticipated to restrain the growth of the global Major Depressive Disorder (MDD) Treatment Market during the forecast period.

 

Impact of COVID-19:

The pandemic caused the implementation of lockdowns in many countries. These lockdowns led to disruptions in logistics and transportation. These lockdowns also impacted the manufacturing activities in many sectors. As there was a shortage of raw materials and a lack of skilled professionals globally. These changes affected the economy of various countries. Strict social distancing rules were also implemented during the pandemic. People had to stay at home and avoid social contact, for preventing the spread of the virus. Thus, during the pandemic, there was a high demand for the global Major Depressive Disorder (MDD) Treatment Market. This affected the mental health of many individuals. Many people were forced to stay in quarantines or some were stuck alone in some place. This led to an increase in the number of anxiety disorders.

Key Takeaways:

The global Major Depressive Disorder (MDD) Treatment Market is expected to witness growth, exhibiting a CAGR of 3.9 % over the forecast period, due to increasing acquisitions by key players. For instance, Alexion Pharmaceuticals was acquired by AstraZeneca, for USD 39 billion, in July 2021. The acquisition aims to expand AstraZeneca's presence in the market.

 

North America is anticipated to witness high growth in the global Major Depressive Disorder (MDD) Treatment Market over the forecast period, due to the growing prevalence of anxiety and depression disorders and the increasing presence of key market players. The Global Lysosomal Storage Diseases Therapeutics Market is estimated to be valued at US$ 9,872.3 million in 2023 and is expected to exhibit a CAGR of 8.4 % during the forecast period (2023-2030).

 

Key players operating in the global Major Depressive Disorder (MDD) Treatment Market are Johnson & Johnson, Pfizer Inc., Eli Lily & Co, GlaxoSmithKline, Takeda Pharmaceutical Company Limited, Merck & Co. Inc, Apotex, Inc., Otsuka Holdings Co. Ltd., Allergan Plc, and H.Lundbeck A/S.