Treatment Resistant Depression Market

Global Treatment Resistant Depression Market Size (2023 to 2028)

The global treatment-resistant depression market is predicted to progress at a CAGR of 3.78% from 2023 to 2028 and be worth USD 1.97 billion by 2028 from USD 1.64 billion in 2023.

Global Treatment Resistant Depression Market Share Insights:

• Based on drug class, the SSRIs segment had the leading share of the global market in 2022.
• Based on route of administration, the oral segment held the major share of the global market in 2022.
• Based on end-user, the hospital segment led the market in 2022.
• Based on region, North America dominated the market in 2022.

Impact of COVID-19 on the global treatment-resistant depression market:

TRD poses a significant challenge for both patients and healthcare providers, as it can lead to prolonged suffering, impaired functioning, increased risk of suicide, and more extraordinary healthcare expenses. Treatment resistance may have a variety of genetic, biochemical, environmental, and psychological origins that are not entirely known at this time. The market for treatment-resistant depression encompasses various approaches aimed at addressing this unmet medical need. As research progresses and new therapeutic alternatives are developed, the TRD market is expected to evolve to better cater to the needs of patients experiencing treatment resistance. As per a 2020 study titled "The Impact of the COVID-19 Pandemic on the Health and Coping Behaviours of Patients with Treatment-Resistant Depression", the COVID-19 pandemic has had both positive and negative effects on the health of patients with treatment-resistant depression.

The mental well-being of individuals was significantly impacted during COVID-19, and as a result, most people suffered from various psychiatric and neuropsychiatric conditions. However, the pandemic has opened new opportunities for companies to innovate and develop effective treatment procedures to cater to the global burden of rising anxiety disorders. This will impact the market positively.

MARKET DRIVERS:

According to the WHO report updated in 2021, more than 700,000 people die by suicide every year. Depression is one of the leading causes of death among 15-19-year-olds. Therefore, the rising cases of depression across the world will drive the TRD market growth over the forecast period by encouraging research and development efforts to address the affected population.

There has been a growing awareness of treatment-resistant depression among healthcare professionals and the public due to improved diagnostic tools, contributing to market expansion. Advancements in the field of neuroscience have evolved the understanding of underlying mechanisms of depression and response to treatment. Ongoing research in areas such as neurobiology, genetics, and brain imaging techniques provide insights into the neurological factors involved in TRD. Thus, the development of novel drugs drives the market significantly. Additionally, favourable reimbursement policies and insurance coverage for TRD treatments help ensure accessibility and affordability, thereby driving market expansion.

MARKET RESTRAINTS:

Despite continued research efforts, just a few licenced and efficient medications exist in the market to target treatment-resistant depression. Existing treatments, such as medication and psychotherapy, are often ineffective for people with TRD. The development of new TRD treatments requires extensive research and development work and often involves huge costs. Some pharmaceutical companies may be deterred from engaging in this niche market because of the uncertain return on investment due to the potential for treatment failures. Some modern therapy, like ketamine or brain stimulation therapies, can be expensive, and reimbursement coverage isn't always adequate. As a result, unfavourable reimbursement rules may restrict patients' access to advanced TRD medicines and slow the growth of the market.

The stigma associated with mental health illnesses, including depression, might discourage patients from seeking treatment and trying new therapies, restricting the TRD market growth and expansion.  The adoption and acceptability of TRD treatment therapies like deep brain stimulation (DBS) and electroconvulsive therapy (ECT) may involve potential side effects. Ethical factors like safety issues, patient consent, and long-term results can limit the market growth for such treatments.

REPORT COVERAGE: 

This research report on global treatment resistant depression market has been segmented and sub-segmented based on the following categories.

Global Treatment Resistant Depression Market – By Drug Type:

• Selective Serotonin Reuptake Inhibitors (SSRIs)
• Monoamine Oxidase Inhibitors
• Tricyclic Antidepressant
• Psychedelics
• Others

Based on drug type, the Selective Serotonin Reuptake Inhibitors (SSRIs) segment is expected to occupy the leading share of the global market during the forecast period. Established efficacy of SSRIs in treating various forms of depression and favorable safety profile compared to some older antidepressant classes primarily drive the growth of the SSRIs segment in the global market.

The psychedelics segment is anticipated to account for a notable share of the global market in the coming years owing to the emerging research showing promising results for treatment-resistant depression and fast-acting effects that provides potential relief for severe and treatment-resistant cases.

Global Treatment Resistant Depression Market – By Route of Administration:

• Oral
• Parenteral
• Others

Based on route of administration, the oral segment is expected to hold the leading share of the global market during the forecast period. Oral is the most common and preferred route of administration for ease of use and patient compliance. The availability of a wide range of oral antidepressant medications that provide various options for treatment is one of the major factors propelling the growth of the oral segment.

The parental segment is anticipated to register a healthy CAGR in the coming years. The growing adoption of parental route of administration in cases of severe and treatment-resistant depression where oral medications have not been effective primarily drive the growth of the parental segment in the worldwide market.

Global Treatment Resistant Depression Market – By End-Users:

• Hospitals
• Homecare
• Specialty Clinics
• Others

Based on end-user, the hospital segment is expected to account for the leading share of the global market during the forecast period. Factors such as a wide range of treatment options for severe cases of treatment-resistant depression, the availability of advanced medical equipment and the ability to provide intensive care primarily drive the growth of the hospital segment in the worldwide market.

The homecare segment is anticipated to witness a prominent CAGR in the coming years owing to the rising preference for home-based treatment options to enhance patient comfort and reduce healthcare costs.

Global Treatment Resistant Depression Market – By Distribution Channel:

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Based on the distribution channel, the hospital pharmacies segment is anticipated to account for the major share of the worldwide market during the forecast period. This is because, for the treatment of mood disorders, a prescription from a certified healthcare professional is required, which is crucial. The increased investment in healthcare infrastructure in emerging countries is also projected to propel the segment growth.

The online pharmacies segment is expected to grow at the highest CAGR in the coming years owing to the increased investment in online pharmacies and the surge in online sales of medications from e-commerce websites. The retail stores are also expected to experience moderate growth during the forecast period due to increased demand for drugs by patients.

Global Treatment Resistant Depression Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• MEA

Geographically, North America holds a significant share of the market and is expected to grow at the highest CAGR during the forecast period. The Anxiety and Depression Association of America estimates that in 2021, anxiety disorder will rank among the most prevalent mental diseases in the country, impacting over 40 million American adults annually, or 18.1% of the country's entire population. The annual cost of treating MDD with medicines in the US population was USD 92.7 billion, of which USD 43.8 billion (47.2%) was related to TRD. The presence of advanced healthcare infrastructure, the increasing prevalence of mood disorders and the increasing demand for treatment-resistant depression drugs are expected to drive the growth of the market during the forecast period.

The Asia Pacific market is anticipated to grow at a rapid pace owing to the growing awareness about mental disorders and increased adoption.

KEY MARKET PLAYERS:

Some of the prominent players in the global treatment-resistant depression market are AstraZeneca, GlaxoSmithKline, Eli Lilly and Company, Forest Laboratories, Johnson and Johnson, Schering Plough Corporation, Vistagen Therapeutics, Inc. and Wyeth.

RECENT HAPPENINGS IN THE MARKET:

• In May 2023, Researchers from Baylor College of Medicine and the Michael E. DeBakey Department of Veterans Affairs Medical Centre found out that ketamine was non-inferior to ECT for treatment-resistant, non-psychotic, unipolar depression patients. The ELEKT-D study is the largest trial to date that showed ketamine is a reasonable and safe alternative to ECT, at least for the short-term management of treatment-resistant, non-psychotic depression.
• After a long period of stagnation in which no new classes of antidepressants were approved, the U.S. Food and Drug Administration (FDA) approved esketamine (with the brand name Spravato) in 2019, a nasal spray that treats depression along with oral antidepressants, helping them to work better. This new option offered hope to people who had not been responding to more traditional antidepressants.