The depression screening market is estimated to register a CAGR of 5.87% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the Global Depression Screening Market— National Psychological Corporation (India), Bruker (US), Medtronic (Ireland), Multi-Health Systems Inc. (US), Nedley Health (US), Danaher Corporation (US), Pearson (UK), SIGMA Assessment Systems Inc. (UK), Siemens (Ireland), and Psychological Assessment Resources, Inc. (US).
The global depression screening market is expected to register a CAGR of 5.87% during the forecast period and is estimated to reach USD 1.24 billion by 2032.
The increasing prevalence of mental disorders, the rise in the adoption of new therapies and treatments, and the rising number of strategic initiatives are the key factors fueling the growth of the global depression screening market. However, a lack of awareness among people and a dearth of qualified mental health professionals are expected to hamper the growth of the global market. Nevertheless, the increasing technological advancement regarding mental health is expected to create lucrative opportunities for global players.
The global depression screening market has been segmented based on indication, diagnosis, and end user.
On the basis of indication, the market is segmented into major depressive disorder, anxiety distress, bipolar disorder, psychotic disorders, and others. The major depressive disorder segment held the majority share in the market in 2022. Major Depressive Disorder (MDD) is a debilitating disease also referred to as unipolar depression or clinical depression. It occurs more frequently in women than in men. The factors that influence MDD are environmental factors (physical, emotional, and sexual abuse during the childhood period), disturbances in neurobiological stress-responsive systems, and family history. Furthermore, the COVID-19 pandemic also led to an increment in MDD globally owing to surge in stress and anxiety caused by the fear of infection and lockdowns.
On the basis of the diagnosis, the market is segmented into psychological tests, blood tests, pharmacogenomic testing, and others. The psychological tests segment dominated the market in 2022. Psychological tests for depression include the Mood Disorder Questionnaire (MDQ), patient health questionnaire, Beck Depression Inventory (BDI), Zung self-rating depression scale (SDS), Centre for Epidemiologic Studies-depression Scale (CES-D), Hamilton Rating Scale for Depression (HRSD), and others.
On the basis of end user, the market is segmented into hospitals and clinics, home-based, and research and academic institutes. The hospitals and clinics segment dominated the market in 2022. Hospitals and clinics use a general screening tool that is full of PHQ-9, which is standard practice for physicians, nurse practitioners, and licensed behavioral health providers. It has been shown in several studies that hospitals and clinics mostly use this test to improve health services, provide quality care, and improve health outcomes for medically underserved populations discharged from the hospital.
The global depression screening market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe depression screening market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The depression screening market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World depression screening market comprises of Middle East, Africa, and Latin America.
Key factors attributed to its large share include developed healthcare infrastructure, increasing technological advancement with regard to mental health, and the presence of a large number of market players in the region. For instance, in November 2020, Janssen Pharmaceutical announced its collaboration with Koa Health to provide cost-effective digital treatment for depression-suffering patients and various therapies to strengthen its position in the global market. In addition, the easy availability of advanced diagnostics is also contributing to regional market growth. The rapid growth of the depression screening industry in the US coupled with technological advancements in the depression screening industry provides continuous progress in the field of mental health. Additionally, the increasing number of initiatives undertaken by various organizations including product launches, mergers, acquisitions, and collaborations is further driving the market growth in North America.
The growing prevalence of different types of depressive disorders amongst individuals, and the rising awareness of treating these depressive diseases are the major factors that are driving the market growth in Europe. For instance, according to the analysis published by the Hospital del Mar Medical Research Institute (IMIM) in July 2021, around 6.4% of the European population suffers from depression. It also stated that the prevalence of depression reaches 7.7% in women while it’s down to 4.9% in men. Therefore, a focused public health response is required to promote depressive disorders among individuals across nations. Additionally, subsequent increases in depression screening, advancements in medical technology, a growing aged population, and rising demand for therapies and treatments are further driving the market growth in Europe.
The increase in disposable income of individuals, increasing funds for research activities, and the rising prevalence of mental disorders are the factors that are driving the market growth in Asia-Pacific. Improvements in healthcare infrastructure & facilities in the region, and rising healthcare expenditure, are other factors contributing to the market growth. In addition, growing depressive disorders in the region are further driving the depressive disorders procedures, thereby boosting the market growth.
Moreover, the Rest of the World accounted for the lowest market share in the depression screening market. The growing prevalence of bipolar disorders and increasing focus on treatment and social support are significantly contributing to the depression screening market growth in the rest of the world. For instance, according to the survey conducted by Arab Center Washington DC in March 2022, around 30% population is suffering from depression, and several social factors are associated with the existence of depression. Therefore, mental health care is required to ensure people with depression.
Key Findings of the Study