Treatment Resistant Depression Market Is Estimated to Witness High Growth Owing To Rising Prevalence of Depression and New Drug Approvals
The Treatment Resistant Depression Market is estimated to be valued at USD 50.32 Bn in 2024 and with CAGR of 4.2% over the forecast period 2024-2031. The market is witnessing high growth owing to the rising prevalence of treatment-resistant depression worldwide. Furthermore, new drug approvals and combination therapies are gaining traction in the market.
Market Dynamics:
New drug approvals and increasing R&D investments are fueling market growth. The market growth is driven by factors such as the rising number of new drug approvals for treatment-resistant depression and increasing R&D investments by pharmaceutical companies to develop novel treatment options. Several new classes of antidepressants such as neurokinin antagonists, glutamate modulators, and orexin receptor antagonists are in pipeline which is expected to provide new treatment alternatives. Furthermore, combination therapies using established antidepressants along with other classes of psychotropic drugs are showing promising results in clinical trials. Pharmaceutical companies are also focusing on developing therapies targeting specific biological pathways associated with depression such as anti-inflammatory drugs, ketamine and esketamine. substantial R&D investments are being made to develop enhanced treatment options for difficult-to-treat patients, thereby accelerating the market growth during the forecast period.
Major Driver: Increased Awareness About Treatment Resistant Depression
Treatment resistant depression (TRD) is a major challenge for patients and clinicians as standard antidepressant treatments are often ineffective. However, awareness about TRD as a psychiatric condition distinct from regular depression has been growing in recent years. Several advocacy groups and non-profits are educating the public and healthcare professionals about the signs, symptoms and prognosis of TRD. This is helping more people recognize when regular depression treatments are failing and to seek specialized care options. As a result, the number of TRD diagnoses have risen which is driving higher demand for newer therapies approved to treat this population. Pharmaceutical companies have also recognized TRD as an important market and are dedicating more resources to developing new drugs. Overall, the growing awareness is positively impacting the treatment resistant depression market.
Rising Prevalence of Depression
According to WHO, over 264 million people worldwide suffer from depression. Rates of depression have been steadily increasing for various reasons like stressful lifestyles, loneliness, lack of social support etc. As more people develop depression, a portion of them will likely become treatment resistant. Studies show between 10-30% of depression patients do not experience remission after two medication trials. As the prevalence of underlying depression rises, so does the prevalence of TRD. This expanding TRD patient pool is fueling market growth as these individuals need specialized treatment options beyond standard antidepressants. Pharmaceutical firms are keen to develop new medications targeting this sizable unmet need. Overall, the rising global burden of depression acts as a key driver for the treatment resistant depression therapeutics segment.
Major Restraint: Lack of Biomarkers Hampers Diagnosis and Monitoring
One key challenge for the TRD market is the lack of reliable biological markers or biomarkers that can assist in diagnosis and treatment monitoring. Currently TRD is diagnosed based only on lack of response to multiple antidepressant trials over time. Having biomarkers would allow for earlier and more objective identification of TRD patients. It would also help clinicians gauge treatment effectiveness more precisely. However, the biological underpinnings of depression are not fully understood yet. Several potential biomarkers like genetic profiles, brain scans and blood tests are still being researched. Until clinically useful biomarkers are validated, diagnosis and monitoring of TRD will remain imperfect, negatively impacting the market. Pharmaceutical investment into biomarker research could help overcome this restraint over time.
High Cost of New Therapies Restricts Uptake
Specialty drugs developed for TRD typically have higher price points than generic first-line antidepressants. This high cost poses a restraint for market uptake, especially in financially constrained healthcare systems. For example, newer antidepressants, neuromodulation devices and add-on medications approved for TRD often have annual drug costs ranging from US$ 5,000 to US$ 30,000. These expenses place a heavy economic burden on patients as many private insurers resist covering these costly therapies. Hospital systems and governments also struggle to allocate budgets for TRD given other healthcare priorities. Unless new treatments demonstrate high cost-effectiveness through improved outcomes and reduced overall mental health spending, high prices will stunt adoption rates and market growth potential for some time.
Major Opportunity: Emergence of Non-Drug Therapies Opens New Avenues
One opportunity for the TRD market lies in emerging non-drug therapies like neurostimulation devices, ketamine therapy and psilocybin therapy. These novel approaches provide alternatives for patients who do not respond to or tolerate antidepressants. For example, repetitive transcranial magnetic stimulation (rTMS) uses magnetic pulses to stimulate brain areas involved in mood, and is gaining acceptance as a front-line treatment or augmentation strategy for TRD. Similarly, intravenous ketamine and oral formulations are showing rapid and durable antidepressant effects. Regulators are also cautiously reviewing promising psychedelic-assisted therapy models for treatment resistant conditions. The arrival of non-drug modalities widens therapeutic options and creates new revenue streams for device makers, clinics and digital mental health platforms. This acts as a significant market expansion driver over the long run.
Personalized Medicine Approach Improves Outcomes
Another opportunity lies in employing a personalized medicine methodology to TRD management. Currently, treatment selection involves trial-and-error of different antidepressants or augmentations. However, emerging research indicates genetics, biomarkers, comorbidities, lifestyle and prior response history all influence individual treatment responsiveness. A precision medicine strategy tapping pharmacogenomic testing, digital phenotyping and machine learning could optimize initial medication selection and reduce time to remission. This improves outcomes while preventing side effects from failed initial treatment attempts. As research uncovers more predictive biomarkers and optimization algorithms, personalized interventions will gain ground.
Link - https://www.coherentmarketinsights.com/market-insight/treatment-resistant-depression-market-5196
Key Development
- In October 2023, A study compared SPRAVATO nasal spray ,of Janssen Pharmaceuticals, Inc , a pharmaceutical company with quetiapine XR in treating treatment-resistant depression (TRD). SPRAVATO showed better remission rates after eight weeks and longer-term relapse-free periods. Adverse events were consistent with known safety profiles. The study's limitations include its open-label design and differences in treatment compliance and administration routes. However, it provides valuable insights for physicians managing TRD, offering patients additional treatment options.
- In August 2022, Merck Sharp & Dohme LLC a biopharmaceutical company commenced , Phase II A Clinical Trial to assess the safety and efficacy of MK-1942 in patients with treatment-resistant depression.
- In July 2022, Novartis Pharmaceuticals, Swiss multinational pharmaceutical corporation announced plans to begin a Phase 2 clinical trial of MIJ821 (ketamine) for the treatment of treatment-resistant depressive disorders in September 2022.
- In May 2022, COMPASS Pathways, biotechnology company presented positive results from the Phase IIb study of COMP360 psilocybin therapy for the treatment of treatment-resistant depression at the American Psychiatric Association annual meeting in New Orleans.
- In February 2022, Denova Biopharma a private San Diego based biotech company obtained USFDA approval to initiate a Phase 2b clinical trial to investigate the efficacy and safety of DB104 (liafensine) in patients with treatment-resistant mood disorders.
- In December 2021, Dr. Reddy, multinational pharmaceutical company introduced a product equivalent to Venlafaxine extended release, an antidepressant tablet, following approval from the United States Food and Drug Administration.
Key Players: Eli Lilly and Company, GlaxoSmithKline, Pfizer Inc., Janssen Pharmaceuticals, AbbVie Inc., AstraZeneca, H. Lundbeck A/S, Sandoz International GmbH, Par Pharmaceutical Companies Inc., Otsuka Holdings Co., Ltd., Wyeth, Scherinhg Plough CorporatioN, Vistagen therapeutics, Inc, Forest Laboratories, Bristol-Myers Squibb Company, Takeda Pharmaceuticals, Lundbeck, Allergan, Supernus Pharmaceuticals, Sage Therapeutics, and Neuralstem
