Albany, NY -- (SBWIRE) -- 10/08/2020 -- Global Treatment-Resistant Depression Market – Overview
Depression is a feeling of being sad that interferes with the normal functioning of our regular activities. It also leads to a decreased interest in several general activities. It has several side effects such as emotionally disturbing events, change in internal hormonal levels.
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Sometimes the effects can be hereditary and at other, the side effects from drugs can lead to depression. Electroconvulsive therapy, psychotherapy, and antidepressants can help patients suffering from depression. Treatment resistant depression is a kind of disorder where the patient does not respond well to the antidepressants used for treating the conditions.
Global Treatment-Resistant Depression Market – Key Trends
There are various factors that are helping to drive the growth of the global treatment resistant depression market. One of the key augmenting factor for the market development the growing prevalence of depression and anxiety related diseases in adults. Also, this is prevalent in ageing population.
The expected prevalence for the stage 1 and stage 2 patients for treatment resistance depression is on the rise. This too is expected to act as a key driving factor for growth of the global market. The growing geriatric population across the globe is also another important factor that is expected to give a solid push to the development of the global treatment resistant depression market.
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Global Treatment-Resistant Depression Market – Geographical Outlook
In terms of geographical segmentation, there are five main regions of the global treatment resistant depression market. These regional segments are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Currently, the global market is being dominated by the regional segment of North America. The region is expected to show the highest revenue growth curve over the course of the given period of forecast ranging from 2019 to 2027.
In addition to this, the region has highly developed medical infrastructure and growing spending for development of healthcare facilities has also helped in the growth of the North America region. Furthermore, in recent years, there has been a growing rate of adoption and increasing demand for treatment resistant depression is also expected to drive the regional market. On the other hand, the regional segment of Europe is expected to follow the North America region.
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The Asia Pacific region is expected to show a promising rate of growth during the course of the given period of forecast. The region is opening up the previously held taboo of mental health. With growing awareness about mental disorders, depression, and mental health, the regional segment of Asia Pacific is expected to show a promising rate of growth and give rise to lucrative business opportunities for the development of the market in coming years.
Global Treatment-Resistant Depression Market – Competitive Landscape
The vendor landscape of the global treatment resistant depression market is fragmented in nature. This state of the vendor landscape is because of the presence of several notable brands plying their trade in the market space. The companies in the market are focused on developing newer and more effective drugs that will help in catering to the evolving needs of the consumers. Moreover, these companies are also expected to resort to adopting inorganic growth strategies such as mergers, acquisitions, takeovers, strategic partnerships and alliances in order to stay ahead of their rivals.
Some of the key players in the global market for treatment resistant depression market are Wyeth, Vistagen Therapeutics Inc., Schering Plough Corporation, Janssen Pharmaceuticals Inc., Forest Laboratories, Allergen Plc., Bristol-Myers Squibb, Eli Lilly and Company, GlaxoSmithKline, Pfizer Inc., and AstraZeneca Plc. among others.
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