Asia-Pacific Anxiety and Depression Treatment Market Predicted to Surge in Coming Years

The global anxiety and depression treatment market had a valuation of $17,770.9 million in 2020 and it is predicted to generate a revenue of $24,467.7 million by 2030. The key factors driving the advancement of the market are the surging geriatric population and the growing public awareness about mental disorders and their treatments around the world.

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With increasing age, the chances of stress conditions in people surge sharply, which, in turn, pushes up the requirement for anxiety and depression treatment products and treatments. Geriatric people suffer from loss in various capabilities related to the functioning of the body. This when coupled with their reducing socioeconomic status makes them highly vulnerable to mental health issues such as depression and anxiety. Besides this, the growing public awareness about mental health issues is also driving the market advancement.

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This was ascribed to the implementation of huge government initiatives aimed at increasing mental health awareness and the huge number of clinical trials conducted by various research institutes to develop innovative drugs across the world. Depending on disorder type, the anxiety and depression treatment market is categorized into obsessive compulsive disorder (OCD), post-traumatic stress disorder (PTSD), phobia, and major depressive disorder. Amongst these, the major depressive disorder category will demonstrate the fastest growth in the market in the future.

Therefore, it can be safely said that the market will exhibit rapid expansion across the world in the forthcoming years, primarily because of the growing prevalence of mental health diseases and the growing public awareness about these diseases and the treatment procedures available for these diseases.

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Created on Jul 29th 2021 05:27. Viewed 201 times.

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