NEW YORK, April 12, 2017 /PRNewswire/ -- The global anxiety disorders and depression treatment market is expected to reach a value of USD 18.3 billion by 2025. The rising incidence of depression worldwide is anticipated to drive the market growth in the coming years. Increasing adoption of devices and psychotherapies has resulted in the declining demand for antidepressants in the recent years.
The rising geriatric population prone to depression and surging prevalence of anxiety disorders, including phobias and generalized anxiety disorder, are further contributing toward the growing demand for antidepressants to treat mental illnesses over the forecast period. Moreover, the introduction of technologically advanced therapies, such as medical implants used for brain stimulation and virtual reality exposure therapies using smartphone-based applications, furnish patients with innovative treatment alternatives.
Further Key Findings from the Study Suggest:
Presently, the antidepressant drugs segment holds the largest revenue share. However, due to the rising occurrence of adverse events associated with these therapeutics, this segment's growth is expected to wane
Patent expiration of branded medicines and introduction of generic biosimilars, which are cost effective, are responsible for the shrinking market of antidepressants
On the other hand, introduction of new medicines, such as Duloxetine, Fetzima, and Brintellix, are predicted to fuel the demand for therapeutics in the coming years
Furthermore, the personalized therapies and devices segment is expected to register the fastest growth owing to its growing adoption by healthcare professionals as they exert fewer side effects as compared to drugs
Cognitive behavioral therapy held the majority share in 2015 and is expected to register substantial growth in the coming years owing to the shifting preference of healthcare professionals toward this segment
Transcranial Magnetic Stimulation (TMS) is predicted to witness lucrative growth due to the introduction of technologically advanced devices such as MagVita TMS Therapy System by MagVenture in July 2015 and Brainsway Deep TMS in January 2013
North American regional segment for anxiety disorders and depression treatment reached a saturation level owing to the availability of several medicines and the high prevalence of depressive disorders in this region
Pfizer, Inc.; Eli Lilly and Company;GlaxoSmithKline plc; AstraZeneca; and H. Lundbeck A/S captured a sizable share in 2015 and accounted for more than 60% of the antidepressant drugs vertical
The revenue captured by antidepressants is expected to decrease with generics dominating the market during the forecast period
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