Depression Screening Market – Overview
The global depression screening market is expected to grow at a CAGR of 6.20% during the forecast period 2017-2023. Depression is a kind of mental condition that causes individuals to experience depressed mood, loss of interest, feelings of low self-worth, disturbed sleep or appetite, low energy, and poor concentration. An individual who is suffering from depression experiences intense emotions of anxiety, hopelessness, negativity and helplessness.
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The global depression screening/mental health market has been evaluated as a moderately growing market and it is expected to continue growing in the near future. Increasing cases of patients with various mental disorders, changing and stressful lifestyle are driving the growth for the market. Moreover, rising funding for R&D and clinical trials are also driving the growth for the market.
Major players of this industry are funding R&D to derive effective solutions for mental health. Major players of this market are holding majority of market share while due to high investment cost, medium and small companies mainly focusing only on manufacturing of drugs rather than R&D. For instance, companies like Eli Lilly and Company, Pfizer Inc., Allergan and some other are spending a rather large amount on R&D for market growth.
Bristol-Myers Squibb Company
Johnson & Johnson Services
Eli Lilly and Company and others.
Segmentation of the Depression Screening Markethas been based on disease type, diagnosis, treatment and end user.
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Based on disease type, the market has been segmented into anxiety, mood disorders, depression, bipolar disorder, psychotic disorders, eating disorders and other mental behavious & disorders. Anxiety is the largest segment and is expected to witness a CAGR of 5.14% meanwhile, depression is the fastest growing segment.
Based on diagnosis, the market has been segmented into psychological tests, laboratory tests, depression screening tests and others. Psychological tests are the most come form of diagnosis and the evaluation of this segment is expected to reach USD 1,647.6 million by 2023.
Based on treatment, the market has been segmented into medication, brain stimulation treatments, substance abuse treatments and others. Medication is one of the most widely used forms of treatment and is estimated to value USD $ 1,949.2 million.
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 its 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.
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