The Treatment Resistant Depression Market is estimated to be valued at USD 1.91 billion in 2024 and is expected to reach USD 2.54 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
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Rising cases of treatment resistant depression, growing awareness regarding available treatment options, and increasing access to healthcare facilities are expected to aid the market growth during the forecast period. However, high costs associated with R&D activities for developing novel molecules and therapies along with risks associated with clinical trials may hinder the market growth to some extent. Overall, the increasing uptake of combination therapies and presence of strong product pipeline are expected to offer new opportunities for players operating in this market in the coming years.
Increasing prevalence of depression disorders
The global treatment resistant depression market is anticipated to experience growth during the forecast period, propelled by factors such as the increasing prevalence of depression. For example, data from the National Institute of Mental Health in January 2022 revealed that approximately 21.0 million adults in the U.S. experienced at least one major depressive episode in 2020, equating to 8.4% of the total adult population. Additionally, heightened awareness about depression and the introduction of new medications are contributing to the market expansion. According to the World Health Organization (WHO) as of June 2021, over 700,000 individuals die by suicide annually, making it the fourth leading cause of death among 15-19-year-olds. Moreover, countries with fast-paced economies like the U.K. and the U.S. exhibit a significant proportion of their populations affected by depression. For instance, in June 2022, according to Anxiety and Depression Foundation statistics updated, generalized anxiety disorder is expected to impact 6.8 million adults annually, constituting 3.1% of the U.S. population. Therefore, the increasing global incidence of depression is forecast to drive the market growth in the coming years.
New drug approval and launch
Key players in the market are actively pursuing approvals for their innovative drugs designed to treat treatment resistant depression and subsequently launching them in the market. These efforts are anticipated to significantly contribute to market growth in the coming years. For instance, Denovo Biopharma LLC, a clinical-stage biopharmaceutical company specializing in biomarker-driven precision medicines, received authorization from the U.S. Food and Drug Administration (FDA) in January 2022 for its investigational new drug (IND) application of DB104 (liafensine) for treatment resistant depression (TRD). This milestone allows Denovo to initiate a global Phase 2b clinical trial to evaluate the safety and effectiveness of liafensine in TRD patients.
Treatment Resistant Depression Market Report Snapshots
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