The UK depression therapeutics market is expected to witness growth from $263 Mn in 2022 to $338 Mn in 2030 with a CAGR of 3.2% for the forecast year 2022-2030. The rising cases of depression in the UK particularly in the younger generation and their subsequent demand for novel therapeutic options are responsible for the growth of the market. The UK depression therapeutics market is segmented by drug type, therapies, indication, and by end users. Curium Pharma, Chatfield Pharmaceuticals, and Abbott Laboratories are the major players in the UK depression therapeutics market.
The UK depression therapeutics market size is at around $263 Mn in 2022 and is projected to reach $338 Mn in 2030, exhibiting a CAGR of 3.2% during the forecast period. From 6 April 2023, the Annual Allowance (AA) will rise from $42,590 to $64,800. People can still carry forward any unused Annual Allowances from the prior three tax years. The Medicines Healthcare and Regulation Authority (MHRA) will look into collaborating with organizations in the US, Europe, and Japan and will offer straightforward and quick approval in the UK for goods authorized by these organizations. The government will allocate $11 Mn through the voluntary, community and social enterprise (VCSE) grant for suicide prevention in England over two years (2023–24) to assist those who are contemplating suicide or are on the verge of a mental health crisis.
The Adult Psychiatric Morbidity Survey (APMS) in the UK has collected data on the mental health and well-being of people aged 16 years and older. The APMS assessed this prevalence to be between 2% and 6%. One in six people in the UK is affected by depression, one of the most common mental health disorders. Self-help techniques, talking therapies, and medications are frequently used in the treatment of melancholy. Drugs called antidepressants are used to address the signs and symptoms of depression. There are numerous varieties of antidepressants. In most cases, taking selective serotonin reuptake inhibitors (SSRI) along with cognitive behavioural therapy (CBT) is more effective than using just one of these approaches. The goal of psychotherapy, also known as talk therapy, is to assist patients in recognizing and successfully addressing the psychological, behavioural, interpersonal, and situational components of their melancholy. The CBT approach enables individuals to recognize unhelpful or dysfunctional thought and behaviour patterns and replace them with more accurate and useful ones. The most frequently recommended antidepressants in the UK are selective serotonin reuptake inhibitors (SSRIs). Norepinephrine and serotonin reuptake inhibitors (SNRIs). Some of the antidepressants include tricyclic and tetracyclic antidepressants as well as monoamine oxidase inhibitors (MAOIs).
Market Growth Drivers
In the UK, depression is becoming more common, which has increased the demand for depression therapeutics. Significant strides have been made in the research and advancement of depression therapeutics, resulting in an influx of new and more potent remedies. Combination therapies, which blend various depression therapeutics, are becoming more popular, increasing their effectiveness and expanding the UK depression therapeutics market.
Market Restraints
The use of pharmacological therapies may decline as non-pharmacological treatments for depression, such as cognitive-behavioural therapy, gain popularity. Governments and payers are under growing pressure to reduce healthcare costs, which could limit investment in R&D and lower the UK depression therapeutics market profitability. This pricing pressure also applies to depression therapeutics. Despite increased awareness of mental health issues, depression still carries a stigma that may prevent some patients from receiving therapy.
Key Players
People of the UK can accept free psychological health care from the National Health Service (NHS). Psychological treatments, community mental health services, and hospital-based facilities are some of these agendas. Mental health services are covered by private health insurance providers, but the degree of coverage and the amount of settlement vary based on the specific rule. While some policies may only cover certain circumstances or reject certain treatments, others may cover both inpatient and outpatient mental health care. To increase access to mental health services, the UK government has put in place several projects. People with anxiety and depression can obtain free psychological therapies through the Improving Access to Psychological Therapies (IAPT) initiative, for example. Depending on the insurance company and policy, different mental health treatments are reimbursed under different guidelines. Insurance companies typically reimburse for mental health services that are considered medically crucial and prescribed by a medical expert.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Drug Type (Revenue, USD Billion):
By Therapies (Revenue, USD Billion):
By Indication (Revenue, USD Billion):
By End Users (Revenue, USD Billion):
Insights10 will provide you with the reports within 10 key parameters which are:
Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
Stage II: Market Data Analysis and Statistical Model
Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.
The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.
Stage III: Interpretation and Presentation
Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.
Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses
Need more?