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 2020, 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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