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RD_Seasonal Affective Disorder Market
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Seasonal Affective Disorder Market
The global seasonal affective disorder market size was valued at USD 550 million in 2021 and is projected to reach around USD 950 million in 2030 exhibiting a CAGR of 5.5% in the forecasted period. The growing prevalence and rising awareness of seasonal affective disorder are among the major factors boosting the industry growth. Conversely, the side effects produced because of the seasonal affective disorder medicines are hampering the market from growth.
Growing prevalence of seasonal affective disorder and depression globally is anticipated to propel growth of the seasonal affective disorder market throughout the forecasted period. For example, as per the World Health Organization (WHO), depression is a prominent cause of disability universally and is a foremost contributor to the overall global load of disease. Worldwide, nearly 5.0% of adults suffer from depression. Additionally, as per the Anxiety and Depression Foundation facts and statistics published in June 2022, comprehensive anxiety disorder affects 6.8 million adults or 3.1% of the United States inhabitants each year. Thus, the growing cases of depression and SADs around the globe are anticipated to boost the complete growth of the market calculated over the forecasted period.
Additionally, increasing number of treatment options and growing research and development (R&D) is estimated to boost growth of the seasonal affective disorder market. For example, in October 2021, Columbia Psychiatry faculty and avoMD, a next-gen clinical decision support platform, combined forces to develop a communicating smartphone application that will offer point-of-care treatment algorithms for major depression.
As the days get dimmer and temperatures dip in most areas of the nations, many people begin to feel the effects of seasonal affective disorder. With the COVID-19 epidemic, some may feel the effects of seasonal depression even more than normal. The world is in a much better situation than last winter with the COVID-19 vaccine and present rollout of booster shots, the ambiguity of where the pandemic is heading can make the mental distress seem never-ending. This in turn is projected to help in the growth of the market.
Type Insights
Based on the type, the global seasonal affective disorder market is bifurcated into fall & winter seasonal affective disorder, spring & summer seasonal affective disorder, and others. The fall & winter seasonal affective disorder segment is anticipated to boost the market growth in the estimated period. The factors affecting the market growth are increasing prevalence of fall & winter seasonal affective disorder. For example, as per an article issued in the Hindawi Publishing Corporation- Depression Research and Treatment, in December 2015, stated that 15% population of Canada experiences sub-syndromal type of seasonal affective disorder, winter blues.
Treatment Insights
Based on the treatment, the global seasonal affective disorder market is segmented into self-care, psychotherapy, phototherapy, medications, mind-body techniques, and others. The phototherapy segment accounts for the major share of the market. For example, as per an article issued in the National Center for Biotechnology Information (NCBI), in October 2020, declared that 60- 80% of seasonal affective disorder patient are aided from phototherapy.
End User Insights
Based on end user, the global seasonal affective disorder market is segmented into hospitals, clinics, household, medical research centers, and others. Owing to the rising patient population, the hospital’s segment held the leading market share. This is mostly owing to the growing number of patients suffering from seasonal affective disorder that are treated in hospitals with advanced substructure and adequate amenities. Furthermore, the rising number of hospitals along with proper reimbursement policies is also donating to the growth of this segment.
Region Insights
North America is expected to dominate the global market in terms of market share during the forecasted period due to increase in prevalence of seasonal depression. About 5% of the population of the U.S. suffers from seasonal affective disorder. This is accredited to changing lifestyles and upsurge in awareness about seasonal depression and its cure.
However, Asia Pacific has less prevalence of seasonal affective disorder. Increase in awareness, growth in the geriatric population, and rise in medical tourism in emerging markets such as China and India are projected to increase the growth of the market in the region.
Key Companies Insights
The market for seasonal affective disorder is moderately competitive. With the rising applications of seasonal affective disorder, new players are considering to enter the market. The companies are also involved in events like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the seasonal affective disorder market, ultimately boosting the market growth. Some of the key companies working in the global seasonal affective disorder market include:
- Henry Schein Inc.
- Bristol-Myers Squibb
- Allergan
- Bayer AG
- Koninklijke Philips N.V.
- Bausch Health
- Mylan, Inc.
- Hoffmann-La Roche AG
- AbbVie Inc.
- Eli Lily and Company
- Sanofi
- Novartis AG
- GlaxoSmithKline
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson Services Inc.
- Other players
Some of the Recent Developments:
- In February 2022, Granules India received authorization from the United States Food and Drug Administration to market Bupropion Hydrochloride extended-release tablets in the United States to treat the main depressive disorder and seasonal affective disorder.
- In June 2021, the United States Food and Drug Administration approved a new medicine for schizophrenia and bipolar illness by Alkermes plc. Lybalvi associates the active ingredient of Eli Lilly’s Zyprexa with a novel chemical agent called samidorphan in a drug that will be sold as Lybalvi.
Segments
By Type
- Fall & Winter Seasonal Affective Disorder
- Spring & Summer Seasonal Affective Disorder
- Others
By Treatment
- Self-Care
- Psychotherapy
- Phototherapy
- Medications
- Mind-Body Techniques
- Others
By Diagnosis
- Physical Exam
- Laboratory Tests
- Psychological Evaluation
- Others
By End User
- Hospitals
- Clinics
- Household
- Medical Research Centers
- Others
By Geography
- North America
- S.
- Canada
- Mexico
- Europe
- K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- ASEAN
- Latin America
- Brazil
- Argentina
- Colombia
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
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