Depression Screening Market size was valued at USD 0.64 billion in 2021. The Depression Screening Market industry is projected to grow from USD 0.67 billion in 2022 to USD 1.06 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.89% during the forecast period (2022 - 2030).Depression screening market has been slated to witness massive growth as mental health conditions continue to deteriorate across the globe. Awareness about being screened for mental health conditions is also adding impetus to market growth. Previously numerous cases of depression went undiagnosed either due to stigmatization related to mental health screening or simply due to lack of awareness about depressive behavior or any need for treatment for the same.
According to reports published by the World Health Organization (WHO) in 2015, nearly 4% of the world’s population, that is 300 million people were found to have depression. The mental condition has become more pervasive in recent decades and has come to be better understood as well. Apparently, depression has become a global disability and one of the leading causes of early death. Depression has clear link with suicide and every minute at least two people around the world kill themselves. Significantly, research shows that U.S. is the most depressed nation in the world followed by Colombia, Ukraine, the Netherlands and France. To combat the rising threat of the mental disorder, depression screening is rising in importance thus adding impetus to global depression screening market growth.
Segmentation:
Depression screening market Insights is segmented on the basis of disease type, diagnosis, treatment and end user.
By disease type depression screening market is classified as depression, bipolar disorders, mood disorders, eating disorders and anxiety.
By diagnosis depression screening market is subdivided as psychological test, depression screening tests and lab tests.
By treatment depression screening market is divided into substance abuse treatment, brain stimulation treatments and medication
End user depression screening market segmentation includes hospitals clinics, academic institutes, medical research centers and dialysis centers.
Regional Analysis:
Depression screening market is studies on the basis of four regions, namely Americas, Europe, Asia-Pacific, and the Middle East Africa.
Availability of advanced diagnostic and treatment methods will lead North America to hold a dominant position in the depression screening market. The region has greater scope of raising fund for research. Due to the advanced quality of care provided and awareness about mental health, more patients approach medical assistance for mental illness in the region.
Over the coming years, Europe depression screening market is also expected to expand and the region is slated to hold the second largest revenue share in the industry.
Asia Pacific is anticipated to demonstrate fastest growth trends in the depression screening market due to the rapid advancements in the healthcare sector and rising awareness about mental disorder. Countries with emerging economies such as India, China and South Korea have witnessed a significant boost in depression screening market growth. India apparently hold 20% of the Asia Pacific depression screening market share.
Due to lower disposable income and the stigmatization of mental illness in several countries in the MEA, depression screening market in this region is expected to be much slower than in others.
Competitive Landscape:
Some of the key players in the depression screening market include Allergan, Alkermes, Bristol-Myers, Novartis AG, AstraZeneca, Squibb Company, Eli Lilly and Pfizer
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