Depression and anxiety are common forms of psychiatric disorders which are prevalent among a large chunk of the population. Major depression of depressive disorders are a diagnosable condition that is classified as a mood disorder and its effects can be a long term issue with symptoms such as reduced energy, overwhelming sadness, loss of appetite, and low interest on things. Depression, if left untreated can result in severe health complications and is considered to be life threatening. Types of depression include persistent depressive disorder, bipolar disorder, seasonal depression, postpartum depression and psychotic depression among others. According to Insights and Reports, in 2017, more than 10 million residents in the U.S. experienced incidences of depression which resulted in severe impairment. Further, according to the World Health Organization, approximately 300 million people across the globe suffer from depression. Further, according to the Anxiety & Depression Association of America, more than 40 million residents in the U.S. aged 18 and above, which is equivalent to 18.1% of the overall population of the country suffer from anxiety disorders each year. These factors have paved the way for anxiety disorders & depression treatments market.
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Based on product type, anti-depressant drugs accounted for the major market share in 2017, the growth of which is majorly attributed to the influx of advanced techniques to counter mental illness.
North America dominated the anxiety disorder and depression treatments market in 2017 and is expected to retain market dominance throughout the forecast period. Asia Pacific, however is gaining rapid prominence in the anxiety disorders & depression treatments market on account of rising working population and busier lifestyles of the younger populace. India and China are the frontrunners to growth of this industry in Asia Pacific. According to the Associated Chambers of Commerce and Industry of India, approximately 42% of the employees working in the Indian corporate sector were found to be suffering from depression in 2015, which marked an approximate of 40% growth over the last 8 years. These are some of the factors resulting in a high demand for anxiety disorders & depression treatments market in the country.
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Some of the key players operating in this industry include GlaxoSmithKline Plc, Astrazeneca Plc, El Lily & Company, Johnson & Johnson Inc., and H Lundbeck A/S among others.
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