Depressive Disorders - Ghana | Statista Market Forecast

Revenue in the Depressive Disorders market is projected to reach US$9.21m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.67%, resulting in a market volume of US$10.01m 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$4.50 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 Ghana is experiencing steady growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in Ghana are shifting towards a greater focus on mental health and well-being. As awareness about the importance of mental health continues to grow, more individuals are seeking help for depressive disorders. This increased demand for treatment options is driving the growth of the market in Ghana.Trends in the market also contribute to the development of the Depressive Disorders market in Ghana. The adoption of telemedicine and online therapy platforms has made mental health services more accessible to individuals in remote areas or those who may not have easy access to traditional healthcare facilities. This trend has opened up new opportunities for providers of mental health services in Ghana, leading to an expansion of the market.Local special circumstances in Ghana, such as a shortage of mental health professionals and limited resources for mental health services, have also contributed to the growth of the Depressive Disorders market. With a limited number of psychiatrists and psychologists available, there is a high demand for mental health services in the country. This has created opportunities for innovative solutions, such as community-based mental health programs and collaborations between healthcare providers and non-governmental organizations.Underlying macroeconomic factors, such as an increase in disposable income and improvements in healthcare infrastructure, have also played a role in the development of the Depressive Disorders market in Ghana. As individuals have more financial resources, they are able to afford mental health treatments and services. Additionally, investments in healthcare infrastructure have improved access to mental health services, further driving the growth of the market.Overall, the Depressive Disorders market in Ghana is experiencing growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As awareness about mental health continues to grow and access to mental health services improves, the market is expected to continue its upward trajectory.

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.