Depressive Disorders - Georgia | Statista Market Forecast

Revenue in the Depressive Disorders market is projected to reach US$342.20k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.43%, resulting in a market volume of US$367.40k by 2029.
In global comparison, most revenue will be generated United States (US$6.26bn in 2024).
In relation to total population figures, per person revenues of US$1.96 are generated in 2024.

Depressive disorders are a common type of mental illness. Symptoms include depressive moods such as feeling sad, low concentration, low self-worth, loss of interest in activities, and, in some cases, thoughts of suicide. Common treatments for depressive disorders include psychological treatments such as psychotherapy, behavioral therapy, and antidepressant medication.

The Depressive Disorders market in the Mental Health market represents the market for antidepressant drug sales. Different types of antidepressants are usually prescribed for the treatment of mild to serious cases of depression, e.g., selective serotonin reuptake inhibitors (SSRIs), serotonin norepinephrine reuptake inhibitor (SNRIs), serotonin modulators, as well as tricyclic and tetracyclic antidepressants.

Market values represent the revenues generated by manufacturers and are based on retail prices for each drug category including all drugs, regardless of whether they are reimbursed or not.

Company examples: Novartis AG, Pfizer, Bristol-Myers Squibb, GlaxoSmithKline, Patheon Inc, and Sandoz Inc.

Antidepressant drugs
Selective serotonin reuptake inhibitors (SSRIs)
Serotonin norepinephrine reuptake inhibitor (SNRIs)
Serotonin modulators
Tricyclic and tetracyclic antidepressants

Psychotherapy
Mood stabilizers
Anti-anxiety and stimulant medications
Behavioral therapy

The Depressive Disorders market in Georgia is experiencing significant growth due to changing customer preferences and trends in the market.

Customer preferences: Customers in Georgia are increasingly seeking treatment for depressive disorders, leading to a higher demand for medications and therapies. The stigma surrounding mental health issues is gradually diminishing, and people are becoming more open to seeking help for their mental well-being. Additionally, there is a growing awareness about the importance of mental health and the need for timely intervention. As a result, individuals are actively seeking out treatment options for depressive disorders.

Trends in the market: One of the key trends in the Depressive Disorders market in Georgia is the increasing use of pharmaceutical interventions. Antidepressant medications are becoming more widely prescribed by healthcare professionals to manage depressive disorders. This trend can be attributed to the effectiveness of these medications in alleviating symptoms and improving overall mental well-being. Additionally, there is a growing trend towards personalized medicine, with healthcare providers tailoring treatment plans to individual patients based on their specific needs and circumstances.Another trend in the market is the rise of alternative therapies. Many individuals in Georgia are exploring non-pharmaceutical treatment options such as psychotherapy, cognitive behavioral therapy, and mindfulness-based interventions. These therapies focus on addressing the underlying causes of depressive disorders and helping individuals develop coping mechanisms to manage their symptoms. The demand for these alternative therapies is driven by a desire for holistic and comprehensive treatment approaches.

Local special circumstances: Georgia has a unique cultural context that influences the Depressive Disorders market. The country has a long history of traditional healing practices, and many individuals still rely on traditional remedies for managing mental health conditions. This presents both opportunities and challenges for pharmaceutical companies and healthcare providers operating in the market. On one hand, there is a need to educate the population about the benefits of modern treatments and dispel any misconceptions about mental health. On the other hand, there is an opportunity to integrate traditional healing practices with evidence-based treatments to provide a more comprehensive approach to managing depressive disorders.

Underlying macroeconomic factors: The growth of the Depressive Disorders market in Georgia is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, leading to an increase in disposable income and improved access to healthcare services. As a result, more individuals are able to afford the cost of treatment for depressive disorders, driving the demand for medications and therapies. Additionally, the government has been investing in the healthcare sector, improving infrastructure and expanding healthcare coverage. This has further contributed to the growth of the market by increasing the accessibility of treatment options for individuals across the country.In conclusion, the Depressive Disorders market in Georgia is witnessing significant growth due to changing customer preferences, including a greater willingness to seek treatment, and emerging trends in the market. The rise of pharmaceutical interventions and alternative therapies is shaping the landscape of the market. The unique cultural context of Georgia, with its traditional healing practices, presents both challenges and opportunities for market players. The growth of the market is also supported by underlying macroeconomic factors, including economic growth and government investments in healthcare.

Data coverage:

Data encompasses B2C enterprises. Figures are based on companies' revenues, international institutes data, and global consumer survey data. Revenues refer to the retail value and include sales taxes.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports and third-party data. Next, we use relevant key market indicators and data from country-specific associations such as healthcare spending per capita, medical product spending per capita, and gross domestic product per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function. Data is modeled using current exchange rates.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Despite what some may think, mental health problems are common in the United States and around the world. Mental health issues, much like other health issues, can be mild, but can also be life altering, affecting the emotional, social, and psychological well-being of the person. Common types of mental illness include mood disorders, anxiety disorders, eating disorders, and personality disorders. Although symptoms of mental illness differ depending on the type of illness and seriousness of the problem, common symptoms of mental health issues include changes in sleeping and eating habits, social withdrawal, feelings of hopelessness, anger, and prolonged sadness, suicidal thoughts, and substance abuse. In 2022, it was estimated that around 36 percent of those in the U.S. aged 18 to 25 years and 29 percent of those aged 26 to 49 years suffered from some form of mental illness in the past year.