The global anxiety disorders and depression treatment market size is projected to reach USD 13.03 billion by 2027, exhibiting a CAGR of 2.6% during the forecast period. Deterioration of mental health amid the COVID-19 pandemic will prove beneficial for this market, postulates Fortune Business Insights™ in its report, titled “Anxiety Disorders and Depression Treatment Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Antidepressants, Anxiolytics, Anticonvulsants, Noradrenergic Agents, and Atypical Antipsychotics), By Indication (Major Depressive Disorder (MDD), Obsessive Compulsive Disorder (OCD), Phobia, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027”. Mental health has been one of the many casualties of the coronavirus pandemic, with anxiety, depression, and other such disorders becoming a commonplace occurrence in several parts of the world.
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North America to Experience Dynamic Growth; Europe to Gain Prominence
North America is expected to dictate the anxiety disorders and depression treatment market share during the forecast period on account of the persistently-high incidence of mental health disorders in the US. The practice of consuming antidepressants and anti-anxiety medications is widespread across the US, resulting in soaring sales for players in North America.
The region’s market size in 2019 stood at USD 4.44 billion.
Coming in second after North America is Europe, where massive investments for the development of therapies for depression, anxiety, and other stress and mood disorders are propelling the market. On the other hand, Asia Pacific is set to showcase the highest CAGR due to the increasing prevalence of depression in emerging economies such as India.
