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"The Depression Screening market was valued USD 796.8 Mn in 2019 and it is estimated to reach more than USD 1279.2 Million by 2028, likely to grow with a CAGR of 5.4 % during the forecast period."
Depression can be defined as a mental disorder wherein an individual consistently finds them sad, unhappy, and hopeless and feels a loss of interest even in previously enjoyed activities. Although in some cases depression may be temporary in case if a person is suffering from some personal tragedy or business loss. However, if this state of mind persists for more than 2 weeks, it can be a sign of serious depression.
According to the World Health Organization (WHO), “depression is a leading cause of disability and has almost affected around 300 Million across the globe”. However, according to mental health experts, it is believed that depression is often considered as a sign of weakness and the number of unreported depression cases can be still in some millions.
The increasing technological advancements in the field of mental health treatment is expected to boost the growth of the global market during the forecast period
Growing Awareness concerning depression is the major contributor to the success of the depression screening market
Depression affects all forms of people. Hectic work schedule and desire to stay at par from the peers is one of the most common causes leading to depression. Besides genetics, and biological disorder has resulted in growing cases of mental disorders. Growing awareness regarding depression on social media, news channels, print media, and social campaigns is the major factor that has created awareness among the individuals. This increased awareness is the major factor that has contributed to the success of the depression screening market. Besides this, the company’s organize camps for screening depression for their employees are boosting the market. However, negligence towards accepting or treating depression is the major restraint for the market. Also, less awareness and availability of treatment options particularly in developing and the underdeveloped economy is another hiccup for this market. Moreover, Adoption of new therapies and treatments in hospitals, clinics and promotional for depression screening can be a major booster for this market during the forecast period.
Major Depressive Disorder Segment is anticipated to be the Dominant Segment
Among all the disorder types, the major depressive disorder segment is anticipated to dominate the global market by holding a major share. It is estimated that more than 16 million population of the U.S suffers from this type of depression each year. This type of depressive disorder is also evident in other regions.
Specialized Clinics Segment is expected to Show Phenomenal Growth over the Forecast Period
In terms of end-users, the specialized clinic's segment is expected to show the highest growth rate throughout the research study. It is estimated that more than 32% of the patients affected with the depression are being treated in the hospitals while specialized clinics are growing at the fastest CAGR owing to growing awareness and availability of dedicated treatment.
North America is anticipated to be the Dominant Region
Geographically, North America has the highest market share in the depression screening market. The U.S accounts for major market share within North America. It is estimated that around 17.3 million in the U.S had at least one major depressive episode. This number represented 7.1% of all U.S. adults. According to W.H.O depression is among the leading causes of disability in persons 15 years or older. It accounts for $30–50 billion in lost productivity and direct medical costs annually in the U.S. Europe also accounts for significant market share in this market owing to increased awareness and presence of depression screening facilities
The Asia Pacific is expected to be the Fastest Growing Region
Asia Pacific region is expected to be the fastest-growing region among others. Countries like Japan, India, and China are expected to contribute to the growth of this market. Factors such as rapid urbanization, busy work life, growing awareness and increase investment in healthcare sectors are responsible for the growth of the depression screening market in the APAC region.
Most of the prominent players operating in the global depression screening market have a dominant presence in North America and Europe region. Besides this, as the entry barriers low owe to low capital investment the market is highly fragmented. Developing and Under-developed countries are having less awareness concerning depression and availability of depression screening facilities which results in less availability of screening facilities at this region
Ligand Pharmaceuticals Incorporated Launched ZULRESSO™ (brexanolone) injection
The key players are engaged in developing new products to strengthen their market position in the global market. For instance, in July 2019 Ligand Pharmaceuticals Incorporated announced to unveil ZULRESSO™ (brexanolone) injection, which was solitary treatment explicitly affirmed for post-birth anxiety (PPD). The product was approved by the FDA.
Some of the reputed players operating in this market include Bristol-Myers Squibb Company (U.S.), AstraZeneca (U.K.), Allergan (Republic of Ireland), Eli Lilly and Company (U.S.), Pfizer Inc. (U.S.), Alkermes (Republic of Ireland), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Otsuka Holdings Co., Ltd. (Japan), and Johnson & Johnson Services, Inc. (U.S.) among others.
Global Depression Screening Market by Depression Disorder Type
- Major Depressive Disorder
- Persistent Depressive Disorder
- Bipolar Disorder
- Seasonal Depression
- Postpartum Depression
- Psychotic Depression
Global Depression Screening Market by Diagnosis
- Lab Tests
- Phycological Tests
- Depression Screening Test
Global Depression Screening Market by Treatment
- Brain Stimulation Treatment
- Substance abuse treatment
Global Depression Screening Market by Region
- North America
- Asia Pacific
- South America
- Middle East and Africa