Depression Therapeutics Market Analysis & Forecast: 2025-2032

Depression Therapeutics Market is estimated to be valued at USD 14.09 Bn in 2025 and is expected to reach USD 19.17 Bn in 2032, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2025 to 2032.

Analysts’ Views on Global Depression Therapeutics Market:

Market players are focused on the research and development of new drugs in the market, which is expected to drive growth of the global depression therapeutics market. For instance, in December 2022, Otsuka Pharmaceutical Development & Commercialization, Inc., a pharmaceutical company, and Sunovion Pharmaceuticals, Inc., a pharmaceutical company, announced that the first patient has been enrolled in a Phase 2/3 clinical study to evaluate ulotaront (SEP-363856), a trace amine-associated receptor 1 (TAAR1) agonist with 5HT agonist activity, as an adjunctive therapy in the treatment of adults living with major depressive disorder (MDD). Ulotaront, which is also being evaluated in Phase 3 clinical development for the treatment of schizophrenia, is the first TAAR1 agonist to be studied as an adjunctive therapy in the treatment of MDD.

Figure 1. Global Depression Therapeutics Market Share (%), By Drug Type, 2025

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Global Depression Therapeutics Market– Drivers

• Increasing Drug Approvals by Regulatory Bodies: The increasing number of drug approvals from regulatory bodies is expected to propel the growth of the global depression therapeutics market over the forecast period. For instance, in December 2022, Vistagen, a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression, and other central nervous system (CNS) disorders, announced the U.S. Food and Drug Administration (FDA) had granted Fast Track designation for the development of PH10, one of the company’s investigational nasal sprays, for the treatment of major depressive disorder (MDD). The FDA’s Fast Track program facilitates the expedited development and review of new drugs that are intended to treat serious or life-threatening conditions and demonstrate the potential to address unmet medical needs, with the intention of bringing promising new medicines to patients sooner.
• Increasing awareness campaigns for mental health: Increasing awareness campaigns for mental health are driving the global depression therapeutics market’s growth. For instance, on August 9, 2023, the American Psychiatric Association Foundation (APAF) launched a transformative awareness campaign that empowers individuals to take the first step toward addressing their mental health. As the country faces an ongoing mental health crisis, APAF is shifting the conversation to ensure that people prioritize their mental well-being on par with their physical well-being. The campaign, Mental Health Care Works, is a comprehensive initiative now in market that raises awareness around the signs and symptoms of mental health disorders, showcases the efficacy of seeking help, and encourages individuals to start conversations and take action.

Similarly, in May 2022, the Child Mind Institute, the leading independent nonprofit in children’s mental health, launched Dare to Share, a powerful mental health awareness campaign to reduce stigma and normalize conversations about emotional, social, and psychological wellbeing among youth. The campaign was launched in conjunction with Mental Health Awareness Month.

Figure 2. Global Depression Therapeutics Market Share (%), By Region, 2025

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Global Depression Therapeutics Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global depression therapeutics market over the forecast period. North America is estimated to hold 33.5% of the market share in 2025. The global depression therapeutics market is expected to witness significant growth in the coming years, driven by the high prevalence of mental health disorders, favorable health reimbursement, and increased awareness. Increasing drug approvals by regulatory bodies  is contributing to the growth of the depression therapeutics market in the North America region. For instance, in August 2020, The Janssen Pharmaceutical Companies, a subsidiary of Johnson & Johnson announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental new drug application (sNDA) for SPRAVATO (esketamine) CIII nasal spray, taken with an oral antidepressant, to treat depressive symptoms in adults with major depressive disorder (MDD) with acute suicidal ideation or behavior. SPRAVATO is the first and only approved medicine that has been shown to reduce depressive symptoms within 24 hours, providing a new option for significant symptom relief until a longer-term, comprehensive treatment plan can take effect.

Global Depression Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of things from one place to another. 

Global Depression Therapeutics Market Segmentation:

The global depression therapeutics market report is segmented by drug type, by indication, by distribution channel and by region.

• By drug type, the market is segmented into antidepressants (selective serotonin reuptake inhibitors (SSRIs), selective norepinephrine reuptake inhibitors (SNRIs), serotonin modulators, tricyclic & tetracyclic antidepressants, and atypical antidepressants), antipsychotics, and others. Out of which, the antidepressants is expected to hold a dominant position in the global depression therapeutics market during the forecast period, and this is attributed to the increasing research and development by market players
• By indication, the market is segmented into major depressive disorder (MDD), bipolar disorder, dysthymic disorder, postpartum depression, seasonal affective disorder (SAD), premenstrual dysphoric disorder (PMDD), and others. Out of which, major depressive disorder (MDD) is expected to dominate the market over the forecast period, and this is attributed to the increasing number of Major Depressive Disorder (MDD) patients.
• By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies and online pharmacies. Out of which, hospital pharmacies is expected to dominate the market over the forecast period, and this is attributed to the prompt treatment that can lead to proper recovery.

Global Global Depression Therapeutics Market- Cross Sectional Analysis:

Key players are gaining drug approvals from regulatory bodies, which is also expected to boost demand for depression therapeutics market in the North America region. For instance, on August 18, 2023, Neurocrine Biosciences, Inc., a Biotech company, announced the U.S. Food and Drug Administration (FDA) has approved INGREZZA (valbenazine) capsules for the treatment of adults with chorea associated with Huntington's disease (HD). INGREZZA is the only selective vesicular monoamine transporter 2 (VMAT2) inhibitor that offers an effective starting dosage that can be adjusted by a patient's healthcare provider based on response and tolerability, with no complex titration. Only INGREZZA offers simple dosing, which is always one capsule, once daily.

Global Depression Therapeutics Market: Key Developments

• On July 18, 2023, Neumora Therapeutics, Inc., a clinical-stage biopharmaceutical company redefining neuroscience drug development, announced the planned initiation of the KOASTAL Program, a Phase 3 pivotal clinical program designed to evaluate the efficacy and safety of navacaprant (NMRA-140) monotherapy for the treatment of major depressive disorder (MDD). Navacaprant (NMRA-140) is a highly selective, novel kappa opioid receptor (KOR) antagonist being developed as a potential monotherapy treatment for MDD.
• On January 24, 2023, Vistagen announced the first cohort of healthy volunteers has been dosed in its U.S. Phase 1 clinical trial of PH10, the company’s investigational pherine nasal spray in development for the treatment of major depressive disorder (MDD). PH10 is an investigational pherine nasal spray designed with a potential rapid-onset mechanism of action (MOA) that is fundamentally differentiated from the MOA of all currently approved treatments for depression disorders.
• In March 2022, UCB, a pharmaceutical company, announced the successful completion of the previously announced transaction to acquire Zogenix for US$ 26.00 per share plus a milestone-based contingent value right for a potential cash payment of US$ 2.00 per share. The total transaction is valued at up to approximately US $1.9 billion (€1.7 billion). FINTEPLA® (fenfluramine) oral solution is a prescription medication approved in the U.S. and Europe and under regulatory review in Japan for the treatment of seizures associated with Dravet syndrome in patients two years of age and older.

Global Depression Therapeutics Market: Key Trends

• Increasing Research and Development by Market Players: Market players are focused on research and development to develop new drugs for the treatment of mental health disorders, which is expected to drive the growth of the global depression therapeutics market over the forecast period. For instance, on August 23, 2023, Relmada Therapeutics, Inc., a late-stage biotechnology company addressing diseases of the central nervous system (CNS), announced the dosing of the first patient in the Relight (study 304) Phase 3 randomized, double-blind, placebo-controlled trial evaluating REL-1017 as an adjunctive treatment of major depressive disorder (MDD). The Reliance and Relight Phase 3 clinical trials advance the clinical development of REL-1017 as an adjunctive treatment for MDD which, if approved, would be mechanistically different to treatments currently available for this indication.

Global Depression Therapeutics Market: Restrain

• Major Side Effects associated with depression therapies: Side effects associated with depression therapies are expected to hinder market growth over the forecast period. For instance, according to the National Health Service, common side effects associated with depression therapies are feeling agitated, shaky, or anxious, feeling sick, indigestion and stomach aches: diarrhea: or constipation and others.

Global Depression Therapeutics Market - Key Players

Major players operating in the global depression therapeutics market include Johnson & Johnson, GlaxoSmithKline plc., Otsuka Pharmaceutical Co., Ltd., Takeda Pharmaceutical Company Limited., Eli Lilly and Company, Sanofi S.A., Pfizer, Inc., Allergan plc., H. Lundbeck A/S, Alkermes, Allergan, Novartis AG, Biogen, Sage Therapeutics, Inc., and AbbVie Inc.

*Definition: Depression therapeutics medication may be prescribed, along with psychological treatments, when a person experiences a moderate-to-severe episode of depression. Depression is common and can affect people of all ages; however, generally, medication is not recommended as the first choice for the treatment of depression in children and young people. There are many different types of antidepressant medication that have been shown to work, but their effectiveness differs from person to person.