The debilitating nature of depression can have a profound effect on every part of an individuals life, thus lowering overall quality of life. The occurrence of depressive disorders and other mental health disorders such as anxiety disorders are becoming increasingly common. The World Health Organization (WHO) found in 2015, that an estimated 4.4% of the global population suffers from depression. This percentage is only going up, primarily due to the rising awareness of mental health disorders and the growing demand to address the same. This has allowed the depression screening mental health market to thrive.
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Market Research Future (MRFR) has analysed this market and published a report that takes a magnifying glass to various market segments so as to the various trends, and factors that affect growth. MRFR’s report discloses an expected CAGR of 6.20% during the 2017 to 2023. It additionally discloses several factors that affect growth including the increasing prevalence of mental disorders, increased funding on research & development and the swift adoption of new treatment options are motivating growth for this market.
In developing economies, there is a low awareness of mental health disorders and treatment options which has in turn created a stigma regarding these disorders. Mental disorders have been found to be a leading cause of suicides, particularly in developing countries. The strong need for these restraints to be addressed are likely to facilitate growth of the market in these regions.
Key Players:
Prominent comeptitors in this market include:
- Pfizer Inc.
- Alkermes
- Otsuka Holding Co. Ltd.
- Allergan
- Novartis AG
- AstraZeneca
- Bristol-Myers Squibb Company and more.
Segmentation:
The global depression screening market is segmented on the basis of disease type, diagnosis, treatment, end user, and region.
On the basis of the disease type, the global depression screening market is segmented into anxiety, mood disorders, depression, bipolar disorders, psychotic disorders, eating disorders, and other mental and behavioral disorders. Anxiety, mood disorders, depression, and bipolar disorders are likely to retain dominant shares in the global depression screening market over the forecast period, with depression likely to exhibit a solid 6.63% CAGR over the forecast period.
On the basis of diagnosis, the market is segmented into psychological tests, lab tests, depression screening tests, and others. Psychological tests are likely to remain the major diagnosis channel in the global depression screening market.
On the basis of the treatment, the depression screening market is segmented into medication (anti-anxiety medications, antidepressants, antipsychotic medications, stimulants, anti-seizure medications, and others), brain-stimulation treatments (vagus nerve stimulation, repetitive transcranial magnetic stimulation, magnetic seizure therapy, and deep brain stimulation), substance abuse treatment, and others.
On the basis of end use, the market is segmented into hospitals and clinics, medical research centers, academic institutes, and others.
Regional Analysis:
The Americas have the largest market share of the Global Depression Screening Market. This is largely owing to the up-to-date diagnostic and treatment options available. Research for mental health is well funded and due to awareness of mental health disorders, there is a demand for depression and mental health screening in this region, particularly in countries such as U.S and Canada.
Europe, with it’s second largest market share, is expected to grow significantly during the forecast period. This is attributable to similar growth patterns as the Americas. Germany, France and the U.K are the top three markets in this region, they have a strong presence of major players which further influence growth.
Asia Pacific is projected to be the fastest growing market, globally. The presence of numerous emerging economies that are experiencing an increased prevalance of mental health disorders is predicted to drive growth. Increasing awareness of mental health disorders in this region combined with a rapidly advancing healthcare sector has set this region to grow exponentially during the forecast period.
Meanwhile, the Middle East and Africa region has the smallest global market share largely owing to the low availability of relevant medical facilities and an under developed healthcare sector. However, countries in the middle east with well-developing economies such as Qatar are expected to see some growth.
Industry Updates:
“Smartphone psychiatry” has become popular in depression research in the last few years. This consists of using data regarding a smartphone user’s word choice, typing speed, and a number of other relevant markers to diagnose a threat in advance. With the rates of depression and suicide rising among teenagers, this technique could witness widespread use over the coming years.
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