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Antidepressant Medication Is The Fastest Growing Segment Fueling The Growth Of Major Depressive Disorder Treatment Market

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Leena Shedmake
Antidepressant Medication Is The Fastest Growing Segment Fueling The Growth Of Major Depressive Disorder Treatment Market

Major Depressive Disorder (MDD) also known as clinical depression or unipolar depression, is a mood disorder that causes disturbing and prolonged feelings of sadness, worthlessness or emptiness. Treatment options for MDD include counseling, psychotherapy and antidepressant medication.

The global Major Depressive Disorder Treatment Market is estimated to be valued at US$ 11.83 Bn in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.




Market key trends:

 

One of the key trends in the MDD treatment market is the increasing utilization of pharmacogenetic testing along with antidepressant treatment. Pharmacogenetic testing examines how a person's genes affect their body's response to antidepressant medications. By identifying gene variations that influence medication metabolism and activity, pharmacogenetic testing helps physicians select the most appropriate antidepressant medication and dosage for a particular patient. This leads to better treatment outcomes and cost savings over time.


Segment Analysis


The major depressive disorder treatment market can be segmented based on drug class, distribution channel, and region. Based on drug class, the antidepressants segment is expected to dominate the market during the forecast period. Antidepressants are highly effective in treating major depressive disorder and have comparatively lesser side effects than other drug classes. Tricyclic antidepressants, selective serotonin reuptake inhibitors, serotonin-norepinephrine reuptake inhibitors, and atypical antidepressants are some major drug sub-segments.



Key Takeaways


The Global Major Depressive Disorder Treatment Market Demand size is expected to witness high growth, exhibiting a CAGR of 2.8% over the forecast period, due to the increasing prevalence of depression and availability of effective treatment options.


Regionally, North America is expected to dominate the major depressive disorder treatment market during the forecast period. The high prevalence of depressive disorder in the region and growing focus on mental health support are major factors driving the market in North America.


The Asia Pacific region is projected to exhibit the highest growth rate over the forecast period owing to increasing awareness regarding mental health issues, growth in medical tourism for depression therapies, and rising government expenditure on healthcare.


Key players operating in the major depressive disorder treatment market are Johnson & Johnson, Pfizer Inc., Eli Lilly and Company, and GlaxoSmithKline plc. These players focus on strengthening their product portfolios through partnerships and product launches. For instance, in January 2022, Johnson & Johnson received FDA approval for Spravato nasal spray for treatment-resistant depression.

 

Explorer more information on this topic, Please visit -

https://www.marketwebjournal.com/major-depressive-disorder-treatment-market-growth-and-trnds-analysis-share-size-demand-forecast/

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