Seasonal Affective Disorder Market Set to Surge at a Steady 5.5 % CAGR, projected to reach USD 950 M
Author : rushikesh shirsath | Published On : 09 May 2024
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.
The global market for seasonal affective disorder is expected to develop over the projected period due to the rising prevalence of depression and seasonal affective disorder. For instance, depression is one of the leading causes of disability worldwide and a major contribution to the total burden of disease, according to the World Health Organization (WHO). Depression affects approximately 5.0% of persons worldwide. Furthermore, according to data and statistics released by the Anxiety and Depression Foundation in June 2022, 6.8 million adults, or 3.1% of the population in the United States, suffer from comprehensive anxiety disorder annually. The increasing number of depression and SAD cases worldwide is therefore expected to support the market's overall growth during the projected timeframe.
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Competitive Landscape and Global Seasonal Affective Disorder Market Share Analysis:
The seasonal affective disorder market competitive landscape provides details of competitors. The details include a company overview, company financials, revenue, market potential, investment in research and development, new market initiatives, global presence, production sites, production capacities, company strengths, company weaknesses, product launch, product width, and application dominance. The above data points are only about the companies' focus on the seasonal affective disorder market.
Global Seasonal Affective Disorder Market Dynamics:
Rising prevalence of seasonal affective disorder:
Seasonal affective disorder is becoming more common worldwide. This is mainly due to changing lifestyles, increasing city life, and decreasing natural sunlight. More people are being diagnosed with seasonal affective disorder. The demand for treatments to reduce its symptoms is growing and driving the market.
Growing investment for healthcare facilities:
There is a surging focus on improving healthcare facilities. This is fostering the market's growth. More and more public and private players are forming partnerships and strategic collaborations. These are about funding and using new and better technology. They are creating profitable market opportunities.
Opportunities:
Technological advancement in the market:
Technology advances have led to new products and treatments for seasonal affective disorder. For example, now, we have advanced phototherapy devices. They are better and offer more convenient treatments for patients.
Increasing adoption of online platforms and telehealth services:
The widespread adoption of online platforms and telehealth provides a significant market opportunity. Offering virtual consultations, therapy sessions, and online sales of products can help people. They may face geographic barriers or wish to use remote services.
Seasonal Affective Disorder Market Segmentation:
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 Centres
• Others
Region Insights:
according to an improvement in the prevalence of seasonal depression, North America is expected to hold the majority of market share in the global market during the projected ten years. Seasonal affective disorder affects around 5% of the US population. Seasonal depression and its treatment are becoming more widely known, which is attributed to shifting lifestyles.
Seasonal affective disorder, however, is less common in Asia-Pacific. The aging population, rising medical tourism, and rising awareness are all expected to contribute to the region's market's growth, especially in emerging economies like China and India.
Leading Companies in the World Market for Seasonal Affective Disorder:
• Henry Schein Inc.
• Bristol-Myers Squibb
• Allergan
• Bayer AG
• Koninklijke Philips N.V.
• Bausch Health
• Mylan, Inc.
• F. Hoffmann-La Roche AG
• AbbVie Inc.
• Eli Lily and Company
• Sanofi
• Novartis AG
• GlaxoSmithKline
• Pfizer, Inc.
• Teva Pharmaceutical Industries Ltd.
• Johnson & Johnson Services Inc.
Important Elements from Table of Contents of Global Seasonal Affective Disorder Market:
– Seasonal Affective Disorder Market Overview
– Global Seasonal Affective Disorder Market Competition, Profiles/Analysis, Strategy
– Global Seasonal Affective Disorder Capacity, Production, Revenue (Value) by regions (2021-2030)
– Global Seasonal Affective Disorder Supply (Production), Consumption, Exports, Imports by Region (2021-2030)
– Global Seasonal Affective Disorder Market Regional Highlights
– Industry Chain, Sourcing Strategies and Downstream Buyers
– Marketing Strategies Analysis, Distributors/Traders
– Market Influencing Factors Analysis
– Market Decisions Relevant to Current Scenario
– Ex Global Seasonal Affective Disorder Market Outlook (2021-2030)
– Case Study
– Study Findings and Conclusions
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