The Global Depression Screening/Mental Health 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. 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.
Taste the market data and market information presented through more than 113 market data tables and 16 figures spread over 101 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Depression Screening Market Research Report–Global forecast till 2023.”
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Competitive Landscapes:
Some of the key players in this market are: Alkermes (Republic of Ireland), ALLERGAN (Republic of Ireland), AstraZeneca (UK), Bristol-Myers Squibb Company (US), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Johnson & Johnson Services, Inc. (US), Novartis AG (Switzerland), Otsuka Holdings Co.,Ltd. (Japan), Pfizer Inc. (US), and others.
Regional Analysis
The Americas dominates the global depression screening market owing to the due to various factors like availability advanced diagnostic and treatment. Moreover, funding for research, increasing number of patients with mental illness and related disorders has spurred the growth of this market.
Europe is the second largest depression screening market. The growth of the depression screening market is attributed majorly due to increasing stress and changing lifestyle. In Europe, Germany is the largest market, While, France and U.K are the second and third largest markets in the Europe. The growth of the market in Germany is attributed to rising awareness for diagnosis of the mental disorders and increasing focus on R&D activities. Moreover, flourishing growth of the medical device and pharmaceutical industry and emphasis on product differentiation also influence the growth of the market.
Asia Pacific is expected to be the fastest growing depression screening market owing to more number of developing nations in this region. Moreover, increasing prevalence of mental disorders, rapidly changing healthcare sector resulting in growth of the market.
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