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The global depression treatment market is expected to register a revenue CAGR of 2.6% during the forecast period, according to Reports and Data.

NEW YORK CITY, NY, UNITED STATES, January 19, 2023 /EINPresswire.com/ -- The global depression treatment market size was USD 11.20 Billion in 2021 and is expected to register a revenue CAGR of 2.6% during the forecast period, according to latest analysis by Reports and Data. Rising launch of innovative drugs with less side effects is a major factor expected to drive market revenue growth during the forecast period. Depression treatments are given to alleviate symptoms of anxiety disorders, mild chronic depression, and Major Depressive Disorder (MDD). In addition, rising prevalence of depression among global population is also driving revenue growth of the market. Improvement of people's health and well-being is achieved through identification of new or enhanced health policies, systems, services, technology, products, and delivery methods. For therapeutic purposes, modern gadgets and cell phones can report a significant amount of pertinent patient data. For example, over four billion individuals use social media on a global scale, creating huge amounts of information from their devices. An increasing body of research indicates that language usage and visual elements in postings can reveal and forecast mental health issues of specific people as well as assess general population trends. Researchers, tech companies, government agencies, and nongovernmental organizations can use these enormous databases to look for signs of mental health conditions, such as depression, anxiety, and suicide risk, owing to advancements in Artificial Intelligence (AI), Natural Language Processing (NLP), and other data science tools.

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To help people with epilepsy identify seizures early, apps such as Embrace and myCareCentric Epilepsy, use wristbands to analyze heart rate, skin conductance, and movements. Monitoring patient's app interactions is another popular method of gaining access to mental wellness. For example, Takeda Pharmaceuticals and Cognition Kit introduced an Apple Watch app for tracking patients with depressive illnesses' daily mood, and cognition. Majority of Internet of Medical Things (IoMT) solutions for mental health are non-invasive, which creates a huge opportunity for companies that specialize in mental health prevention, screening, evaluation, and therapy.
However, lack of awareness, delay in diagnosis, high cost of therapies, lack of skilled experts and treatment centers in emerging countries, and adverse effects of depression treatment drugs are factors expected to hamper market revenue growth.

Some Key Highlights From the Report

• The geriatric segment accounted for a significant revenue share in 2021. People develop several stress-related diseases as they age due to a reduction in functional capacity. Retirement also lowers socioeconomic status of elderly, which worsens situation and encourages isolation and loneliness.

• The mental health centers segment is expected to register largest revenue CAGR during the forecast period. Risk of chronic illnesses linked to stress, anxiety, and substance addiction is decreased by mental health services provided in these centers. Mental health treatments improve perspective of people who might feel lost and hopeless while also saving lives.

• The North America market accounted for largest revenue share in 2021. This is attributed to favorable government policies and region's rising rates of anxiety disorders, depression, and sadness. In the U.S., there are more cases of depression disorder. Statistics and figures from Anxiety and Depression Foundation show that 6.8 million adults in the U.S., or 3.1% of population, suffer from generalized anxiety disorder, which is also expected to drive revenue growth of the market in this region.

Some major companies operating in the global market report include:

Pfizer Inc., Lyra Health, Inc., NeuroFlow, Quartet, H. Lundbeck A/S, Sanofi, AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company, and Takeda Pharmaceutical Company Limited.

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Age Group Outlook (Revenue, USD Billion; 2019-2030)
• Adolescents
• Adults
• Geriatric

Drug Type Outlook (Revenue, USD Billion; 2019-2030)
• Antidepressants
• Antipsychotics
• Beta-blockers
• Others

Application Outlook (Revenue, USD Billion; 2019-2030)
• Major Depressive Disorder (MDD)
• Bipolar Disorder
• Seasonal Affective Disorder
• Dysthymia
• Postpartum Depression
• Psychotic Depression
• Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Mental Health Centers
• Hospitals & Clinics
• NGOs
• Asylum
• Others

Geographic Segment Covered in the Report:

The Biodefense report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and the rest of the Middle East and Africa)

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