DRUG FREE DEPRESSION TREATMENT MARKET SEEN SOARING 10.1% GROWTH TO REACH USD 16.9 BILLION BY 2030, PROJECTS UNIVDATOS MARKET INSIGHTS
- Himanshu Patni
- June 28, 2024
- HEALTHCARE, NEWS
- Drug free depression treatment market
- 0 Comments
Key Highlights of the Report:
- Growing demand in the healthcare sector: The drug free depression treatments market is experiencing significant growth due to increasing demand for drug free treatment in the healthcare sector, driven by growing cases of depression.
- Rise in depression treatment market: There has been a growing demand for cancer treatment owing to increased incidences of disturbed mental health.
- Major investments in psychotherapies: Pharmaceutical companies have adopted collaborative strategies to develop improved methods of working with drug free depression treatments.
- Cognitive behavioral therapy gaining traction in the market: Due to the constant rise in depression cases, cognitive behavioral therapy is gaining traction.
According to a new report by Univdatos Market Insights, Drug Free Depression Treatment Market is expected to reach USD 16.9 Billion in 2030 by growing at a CAGR of 10.1%. Depression, also known as major depressive disorder (MDD), is a prevalent and debilitating mental health condition characterized by persistent feelings of sadness, hopelessness, and a loss of interest or pleasure in activities. It significantly impacts an individual’s ability to function in daily life and can lead to various emotional and physical symptoms which makes depression treatments a necessity for such individuals. Drug-free treatments for depression encompass a range of approaches, including therapy, lifestyle changes, and alternative therapies. By fostering a supportive and empathetic therapeutic alliance, individuals affected by depression can regain a sense of control over their lives and work towards achieving improved mental and emotional well-being. Several factors are contributing to the growth of drug free depression treatments including the rising number of depression cases, the surge in awareness programs regarding mental health, the rising geriatric population, and rising investments in psychology departments are driving the growth of drug free depression treatment. For instance, in July 2023, Flow Neuroscience, a small Swedish company treating depression with brain-stimulating headsets, claimed that their device relieved depressive symptoms in clinical trials. Apart from these factors, the rising mortality rate due to anxiety and depression is further leading the market in this forecast period.
The report suggests that the Rising Number of Cases of Depression is one of the major factors driving the growth of the drug free depression treatment market during the forthcoming years. For instance, according to the World Health Organization, an estimated 3.8% of the population experience depression, including 5% of adults -4% among men and 6% among women, and 5.7% of adults older than 60 years. Also, according to Statistics Canada’s report in September 2023, the percentage of Canadians aged 15 years and older suffering from major depressive episodes, bipolar disorder, and generalized anxiety disorder has increased in the past 10 years. As the incidence of depression continues to rise, there is a greater demand for effective treatment options, driving the growth of the drug free depression treatment market. Additionally, ongoing research and development efforts aimed at discovering new drug free depression treatments with improved efficacy further contribute to the expansion of this market.
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Fig: Percentage of adults with depressive symptoms by age, Great Britain, 27 January to 7 March 2021
Cognitive Behavioural Therapy Segment Gaining Traction in the Market:
Cognitive therapy, or cognitive-behavioral therapy (CBT), plays a significant role in the drug-free depression treatment market. It offers an effective alternative or complement to medication by addressing the underlying thought patterns and behaviors contributing to depression. In the drug-free depression treatment market, cognitive therapy is utilized as a primary intervention, offering patients a non-pharmacological approach to managing their symptoms. This approach appeals to individuals who prefer non-drug treatments or who may experience side effects or resistance to medication. Cognitive therapy’s evidence-based effectiveness and focus on empowering patients to develop coping skills make it a valuable option in the drug-free depression treatment landscape.
Conclusion
The global drug free depression treatment market is a rapidly growing field, with advancements in mental health therapeutics leading to improved outcomes for patients facing psychiatric problems. The global drug free depression treatment market is expected to continue to grow in the coming years, as new therapies are developed. Overall, the global drug free depression treatments market represents a significant opportunity for mental health organizations, which are making strategic alliances to design an effective drug free depression treatment. With continued research and development, even more effective treatments will likely become available in the future, leading to improved outcomes for patients and doctors through drug free depression treatments.
Key Offerings of the Report
Market Size, Trends, & Forecast by Revenue | 2023−2030
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Treatment Type, Facility Type, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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