Global Depression Treatment Therapy Market Size is Expected to Reach $15789.0 million by 2028

Global Depression Treatment Therapy Market Overview

According to Global Market Monitor, the global depression treatment therapy market size will reach $13466.14 million in 2023, and it is expected to achieve $15789.0 million by 2028. Depression is the most common among adolescents and young people. Depression is most common among adolescents and young people. It is the number one cause of death among people aged 15-34. At the same time, patients with depression have tended to become younger in recent years. All the medication and other treatments tend to lean towards the younger.

Depression has become the Fourth-Largest Disease in the World

According to the World Health Organization, depression has become the fourth leading disease in the world, with more than 350 million people worldwide suffering from it. However, compared with high prevalence, the understanding of mental illness and related resources support of psychology are inadequate for the prevention, diagnosis, and treatment of depression. At present, the population of patients with depression is still growing rapidly. According to the WHO, it is predicted that by 2030, depression will become the first disease burden in the world.

According to the China Mental Health Survey, there are currently 95 million people suffering from depression in China. About 280,000 people commit suicide every year, and 40% of them suffer from depression. The global burden of mental disorders has worsened in the wake of COVID-19, with cases of major depression and anxiety rising by 28% and 26% respectively, and depression surging by 53 million with a growth rate of 27.6%. Research published in the Lancet in 2021 noted that the pandemic has made public health security factors prominent, but other complex social factors related to inequality have not disappeared, with previous research showing that women and young people have been hardest hit by the pandemic. At the same time, the national understanding of depression is still poor, depression patients still face strong stigma, lack of disease education, medical difficulties, and other problems.

Enterprises Development Status of Depression Treatment Industry

Patent expiration and the large use of generic drugs have forced many brand-name drug manufacturers to halt research and development or reduce their budgets, and a very limited number of new drugs are in development. Due to the decline in revenue, the market research and development momentum is blocked, which is not conducive to the healthy development of the market. As large pharmaceutical companies have made no innovative progress in antidepressant drug research and development, small and medium-sized bio-pharmaceutical companies have been active in the antidepressant market since 2019, focusing on innovative drug research and development.

Pfizer is one of the major players operating in the Depression Treatment Therapy market with a market share of 9.76% in 2022. Pfizer Inc. operates as a pharmaceutical company. The Company offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. Pfizer serves customers worldwide.

Pfizer Introduction
Company Name	Pfizer
Website	www.pfizer.com
Established Time	1849
Plant Locations	Worldwide
Market Distribution	Worldwide
Depression Treatment Therapy Product Offered	PRISTIQ is a prescription medicine used to treat adults with a certain type of depression called major depressive disorder (MDD). PRISTIQ belongs to a class of medicines known as serotonin and norepinephrine reuptake inhibitors (SNRIs).