Depressive Disorders - Sri Lanka | Statista Market Forecast

Revenue in the Depressive Disorders market is projected to reach US$13.79m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.34%, resulting in a market volume of US$14.74m 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$18.47 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 Sri Lanka is experiencing significant growth and development. Customer preferences for mental health treatment have shifted towards a more holistic approach, leading to an increase in demand for a variety of treatment options. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the expansion of the market.Customer preferences in the Depressive Disorders market in Sri Lanka have evolved in recent years. Previously, there was a strong reliance on pharmaceutical interventions, such as antidepressant medications. However, there has been a growing recognition of the importance of a comprehensive approach to mental health, including psychotherapy, counseling, and lifestyle changes. This shift in preferences has led to an increase in the demand for non-pharmaceutical treatment options and alternative therapies, such as mindfulness meditation and yoga. Trends in the market reflect this changing customer preference for holistic treatment. Mental health clinics and wellness centers offering a range of services, including therapy, counseling, and mindfulness programs, have emerged in response to the demand. These facilities provide a supportive environment for individuals seeking help for depressive disorders and offer a more personalized and integrated approach to treatment. Additionally, there has been an increase in the availability of online mental health platforms, which provide convenient access to therapy and counseling services.Local special circumstances in Sri Lanka have also contributed to the development of the Depressive Disorders market. The country has a high prevalence of mental health disorders, including depressive disorders, due to a combination of social, economic, and cultural factors. The civil war that lasted for nearly three decades has had a significant impact on the mental health of the population, with many individuals experiencing trauma and post-traumatic stress disorder. The stigma surrounding mental health has also been a barrier to seeking treatment, but there has been a gradual shift in societal attitudes, leading to increased acceptance and support for those struggling with depressive disorders.Underlying macroeconomic factors have further fueled the growth of the Depressive Disorders market in Sri Lanka. The country has experienced steady economic growth in recent years, resulting in an expanding middle class with increased disposable income. This has allowed more individuals to afford mental health services and invest in their well-being. Additionally, the government has recognized the importance of mental health and has implemented policies to improve access to care and reduce the stigma associated with mental illness.In conclusion, the Depressive Disorders market in Sri Lanka is developing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards a more holistic approach to mental health treatment has led to an increased demand for a variety of treatment options. The emergence of mental health clinics and online platforms has provided individuals with greater access to care. Local special circumstances, such as the high prevalence of mental health disorders and shifting societal attitudes, have also contributed to the market's growth. Furthermore, underlying macroeconomic factors, such as economic growth and government support, have created a favorable environment for the development of the market.

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.