Depressive Disorders - India

India

Revenue in the Depressive Disorders market is projected to reach €0.68bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.71%, resulting in a market volume of €0.74bn by 2029.
In global comparison, most revenue will be generated in the United States (€5,807.00m in 2024).
In relation to total population figures, per person revenues of €10.17 are generated in 2024.

Key regions: India, Europe, Japan, Canada, United Kingdom

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Analyst Opinion

The Depressive Disorders market in India is experiencing significant growth and development due to various factors.

Customer preferences: Customers in India are increasingly seeking treatment for depressive disorders, leading to a rise in demand for related products and services. This can be attributed to a growing awareness and understanding of mental health issues in the country. Additionally, there is a greater acceptance and willingness to seek help for mental health conditions, which has further fueled the demand for treatments and therapies.

Trends in the market: One of the key trends in the Depressive Disorders market in India is the increasing adoption of digital platforms for mental health support. With the widespread availability of smartphones and internet connectivity, individuals are now able to access mental health resources and services online. This has led to the emergence of various mobile applications and telemedicine platforms that provide remote consultations, therapy sessions, and self-help tools for managing depressive disorders. The convenience and privacy offered by these digital solutions have made them popular among customers.Another trend in the market is the focus on holistic approaches to treating depressive disorders. Customers are increasingly seeking alternative therapies such as yoga, meditation, and Ayurveda, in addition to traditional pharmaceutical treatments. This shift towards holistic approaches can be attributed to a desire for comprehensive and personalized care, as well as a preference for natural remedies. As a result, there has been a rise in the availability and popularity of wellness centers and retreats that offer a combination of therapies for mental well-being.

Local special circumstances: India has a large population and a high prevalence of depressive disorders, which contributes to the growth of the market. The country also has a shortage of mental health professionals, leading to long waiting times for appointments and limited access to care. This has created a demand for innovative solutions and alternative forms of support, such as online platforms and community-based initiatives. Additionally, cultural factors and stigma surrounding mental health in India have historically hindered the seeking of treatment. However, there has been a shift in recent years, with increased awareness and efforts to reduce stigma, leading to more individuals seeking help for depressive disorders.

Underlying macroeconomic factors: India has been experiencing rapid economic growth, which has resulted in an increase in disposable income and healthcare spending. This has allowed individuals to allocate more resources towards mental health treatment and support. Furthermore, the government of India has recognized the importance of mental health and has taken steps to improve access to care and reduce the treatment gap. Initiatives such as the National Mental Health Program and the Mental Health Care Act have been implemented to address the needs of individuals with depressive disorders. These macroeconomic factors have contributed to the growth and development of the Depressive Disorders market in India.

Methodology

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.