NEW YORK, April 8, 2021 / PRNewswire / – The World Health Organization (WHO) has appointed October 10e such as World Mental Health Day to raise awareness of these issues and reduce people’s reluctance to seek treatment. As a result of these initiatives, the the market value of the treatment for anxiety and depression is expected to increase $ 17,770.9 million in 2020 at $ 24,467.7 million by 2030, to a CAGR of 3.3% between 2021 and 2030, according to the market research report published by P&S Intelligence.
Likewise, a program, called Better Outcomes in Mental Health Care (BOiMHC), and an organization, called the Mental Health Association, have been formed to help the cause. Australia. The National Alliance on Mental Illness (NAMI), which was founded in the United States in 1979, is another such organization that is helping the growth of the anxiety and depression treatment market through its support of patients and their training courses.
Highlights of the Global Anxiety and Depression Treatment Market
- Demand for devices is growing faster than for drugs
- The booming geriatric population is the main driver of the market
- Growing awareness of mental health positively impact market growth
- Hospital pharmacies account for most of the sales of drugs and devices
- North America largest market for anxiety and depression drugs and devices
- Companies launching new drugs after receiving regulatory approval
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Due to the COVID-19 pandemic, the anxiety and depression treatment market has reported a negative impact. Lockdowns implemented around the world have led to the closure of factories, resulting in low production of drugs and devices. In addition, restrictions on non-essential movement and international trade have led to a reduction in the supply of these products.
The highest CAGR in the anxiety and depression drugs market in the coming years is expected to be seen in the category of online channels, on the basis of the distribution channel. Because of the convenience of shopping these websites offer, allowing people to order at home, receive discounts and receive home delivery, customers are turning to them.
Browse Detailed Report with COVID-19 Impact Analysis on Anxiety and Depression Treatment Market Research Report: By Product Type (Drugs, Devices), Disorder Type (Major Depressive Disorder, OCD, Phobia, PTSD), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Channels, Direct Channels) – Global Industry Analysis and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/anxiety-and-depression-treatment-market
Currently, North America generates the highest revenue in the Anxiety and Depression Treatment market due to the growing incidence of chronic pain, anxiety and depression, growing mental health awareness and increasing number of people receiving prescriptions for drugs and associated devices. In the coming years, the demand for these products will increase the fastest Asia Pacific (APAC). The prevalence of anxiety and depression is increasing in the region due to the growing demographic of the elderly.
Leading companies in the global anxiety and depression treatment market are Novartis AG, Bristol-Myers Squibb Company, Pfizer Inc., Johnson & Johnson, AbbVie Inc., Merck & Co. Inc., Eli Lilly and Company, Sanofi, Lundbeck A / S, GlaxoSmithKline plc, Mylan NV, Glenmark Life Sciences Limited, Cipla Ltd., Lupine Limited, AstraZeneca plc, Amneal Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Sumitomo Dainippon Pharma Co. Ltd., and Intas Pharmaceuticals Ltd.
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