Mood Disorder Treatment Market: Introduction
- Mood disorder, also known as affective disorder, is a mental health issue characterized by a serious change in mood that affects the person’s daily life
- There are various types and subtypes of mood disorder; however, it can be segmented into three major states: depressive, manic, and bipolar
- Mood disorder is a broad term that’s used to include all types of depressive and bipolar disorders
- If someone has symptoms of a mood disorder, the moods may range from extremely low (depressed) to extremely high or irritable (manic). This primarily affects the person’s emotional state.
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Key Drivers and Restrains of Global Mood Disorder Treatment Market
- Major players are focused on research & development of new drugs for the treatment of mental illness. Thus, increase in the launch and approval of new drugs for the treatment of mood disorder are being witnessed. For instance, Allergan plc and Gedeon Richter Plc. received the U.S. Food and Drug Administration (FDA) approval for its supplemental new drug application (sNDA) of VRAYLAR (cariprazine), for the use and treatment of depressive episodes associated with bipolar I disorder in adults.
- Rise in partnerships, collaborations, and agreements between companies and/or research institutes for the development, marketing, and distribution of mood disorder treatment is anticipated to drive the global mood disorder treatment market. For instance, Sumitomo Dainippon Pharma and Angelini announced a partnership for commercialization of Latuda (Lurasidone Hydrochloride) in November 2017 for Europe.
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- As per World Health Organization (WHO), depression is expected to be the leading burden of disease worldwide by 2030. At any given point of time, mood disorders affect approximately 20% of the general population worldwide. Increasing prevalence of mood disorder is anticipated to drive the global mood disorder treatment market.
- Rise in government driven initiatives in the field of mood disorder treatment is projected to fuel the global market during the forecast period. For instance, in February 2024, India and the U.S. signed an agreement on mental health, which is projected to enable India to learn from the experience of the U.S. in the treatment of mental health issues and is likely to facilitate greater access to traditional Indian medicines and therapies to treat mental health challenges in the U.S.
- Several drugs used in mood disorder have numerous side-effects such as addiction, blurred vision, damage to liver & thyroid, impaired memory, and tremors. This is which is hampering the mood disorder treatment market.
- Stringent regulations for approval process and social stigma associated with mental illness are key factors restraining the mood disorder market globally
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North America to Lead Global Mood Disorder Treatment Market
- In terms of region, the global mood disorder treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America leads the global mood disorder treatment market, and this trend is estimated to continue in the near future. This can be attributed to well-established healthcare structure, an increase in R&D investments in pharmaceutical companies & research institutes for new drug development, and the presence of major players in the region.
- Europe is estimated to be the second-largest mood disorder treatment market, in terms of market share. Rise in incidence of mental disorder, increase in government initiatives for the treatment, and technological advancement & development activities related to mental health are projected to propel the mood disorder treatment market in the region.
- The market in Asia Pacific is estimated to expand at a notable CAGR during the next few years, due to a rise in awareness regarding mental health and an increase in investment by major players in the region
- The market in Latin America and Middle East & Africa is estimated to expand at a steady pace due to the presence of rapidly developing economies and evolving infrastructure of healthcare in these regions
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Key Manufacturers Operating in Global Mood Disorder Treatment Market
Key manufacturers operating in the global market are:
- MECTA Corporation
- Ectron Limited
- Somatics, LLC.
- Alkermes
- Eli Lilly and Company
- Janssen Global Services, LLC (Johnson & Johnson)
- Allergan (AbbVie Inc.)
- Pfizer Inc.
- Mylan N.V.
- Novartis AG
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