Depression Screening Market – Highlights
Depression is a kind of mental condition that causes individuals to experience depressed mood, loss of interest, feelings of low self-worth, disturbed sleep or appetite, low energy, and poor concentration. An individual who is suffering from depression experiences intense emotions of anxiety, hopelessness, negativity and helplessness. The global depression screening/mental health market has been evaluated as a moderately growing market and it is expected to continue growing in the near future. Increasing cases of patients with various mental disorders, changing and stressful lifestyle are driving the growth for the market. Moreover, rising funding for R&D and clinical trials are also driving the growth for the market. Major players of this industry are funding R&D to derive effective solutions for mental health. Major players of this market are holding majority of market share while due to high investment cost, medium and small companies mainly focusing only on manufacturing of drugs rather than R&D. For instance, companies like Eli Lilly and Company, Pfizer Inc., Allergan and some other are spending a rather large amount on R&D for market growth.
The global depression screening market is expected to grow at a CAGR of 6.20% during the forecast period 2017-2023.
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Major Players in the Depression Screening Market
Some of the key players in the global market are Alkermes (Republic of Ireland), ALLERGAN (Republic of Ireland), AstraZeneca (UK), Bristol-Myers Squibb Company (US), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Johnson & Johnson Services, Inc. (US), Novartis AG (Switzerland), Otsuka Holdings Co.,Ltd. (Japan), Pfizer Inc. (US), and others.
The global depression screening market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.
Americas is known to be the largest market. Many top global pharmaceutical companies have their base in this region leading the innovation and new solution development. These companies like Eli Lilly and Company, Pfizer Inc. and some other are spending a rather large amount on R&D for market growth. According to Canadian Mental Health Association, 1% Canadian population is suffering from Schizophrenia while 5% of Canadian household population is suffering from anxiety disorders.
The cases of mental disorder and illness is rapidly rising in Europe. Some major factors are leading the growth of European depression screening/mental health market such as changing lifestyle is leading to stress, increasing prevalence of depression, rapid adoption of new drugs and techniques etc. According to World Health Organization (WHO), about 27% adult population of European Union (EU) countries suffers fro vm at least one series of mental disorder and 3 out of 4 people are suffering from major depression.
Prevalence of various mental disorders are rapidly rising in middle-low income countries. According data published in International Journal of Behavioral Science, anxiety, depression, Post-Traumatic Stress Disorder (PTSD), substance abuse disorder, and suicidal behavior are the top five mental problem in Asia Pacific region. Increasing awareness of mental disorders and treatments are driving the growth for the market.
Middle Eastern countries are dominating in Middle East and Africa market it is mostly due to developed healthcare infrastructure, government support, increasing awareness and rising middle class population. However some factor are prohibiting the market growth such as low awareness of the disorders, reluctance to adopt new therapies, and limited availability of healthcare facilities and products etc.
The global depression screening market is segmented on the basis of disease type, diagnosis, treatment, and end user.
On the basis of the disease type, it is further segmented into anxiety, mood disorders, depression, bipolar disorders, psychotic disorders, eating disorders and other mental and behavioral & disorders.
On the basis of the diagnosis, the market is segmented into psychological test, Lab tests, depression screening tests and others.
On the basis of the treatment, the market is segmented into medication (anti-anxiety medications, antidepressants, antipsychotic medications, stimulants, anti-seizures medications and others), brain-stimulation treatments (Vagus Nerve Stimulation (VNS), repetitive Transcranial Magnetic Stimulation (rTMS), Magnetic Seizure Therapy (MST), and Deep Brain Stimulation (DBS)), substance abuse treatment and others.
On the basis of the end user, the market is segmented into hospitals and clinics, medical research centers, academic institutes, and others.
Key Questions Answered In This Report:
What will the market size and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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This post was originally published on The Market Plan