SEASONAL AFFECTIVE DISORDER MARKET REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global seasonal affective disorder market size was USD 531 million in 2019 and the market is projected to touch USD 627.3 million by 2026, exhibiting a CAGR of 2.4% during the forecast period.
Seasonal Affective Disorder refers to a type of depression that occurs at certain times of the year depending on the change of seasons, usually occurs in winter and usually occurs in women or people between the ages of 15 and 55, who live far from the equator, where the daylight hours of a winter day are very short.
Seasonal affective disorder is recognized and included in the diagnostic classification of the Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, as a major depressive disorder with a seasonal pattern. Seasonality means that weather conditions strongly affect people all over the world. Additionally, increasing prevalence of seasonal affective disorder is expected to boost market growth.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The coronavirus pandemic (COVID-19) and shutdowns in various countries around the world have affected the financial health of companies in all sectors. One such sector is private healthcare, which has been severely affected by the COVID-19 pandemic. Pandemic restrictions in various countries have placed a financial burden on the health sector. In addition, the coronavirus pandemic has hindered the development, production and delivery of medicines and other health products, and has affected the growth of the medical business of various companies in various parts of the world. Consequently, the impact of the COVID-19 pandemic will also curb the growth of the global seasonal affective disorder market during the forecast period.
LATEST TRENDS
Technological development and the proliferation of online platforms and telehealth services in the market leading market expansion
Advances in technology have led to the development of innovative products and therapies for seasonal affective disorder. For example, advanced phototherapy devices with improved functions and features are now available to provide more effective and convenient treatment options for patients with seasonal affective disorder. The widespread adoption of online platforms and telehealth offers a significant market opportunity. Offering virtual consultations, therapy sessions, and online sales of seasonal affective disorder products can improve access for people who may face geographic barriers or wish to use remote services.
SEASONAL AFFECTIVE DISORDER MARKET SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type the global market can be categorized into Light Therapy, Medications, Others.
Light therapy is used to treat a variety of problems, including skin problems, acne, seasonal affective disorder, and clinical depression. The treatment session depends on the condition and treatment area, which varies between 15-90 minutes. Light therapy is increasing its market share in the SAD industry due to the increasing prevalence of SAD and the introduction of innovative treatments. When used with antidepressants, light therapy has fewer negative effects and is both safe and effective. Other factors boosting the category are easy access to products through online platforms and increased awareness among end users about the use of phototherapy products. Likewise, it promotes market expansion.
- By Application
Based on application the global market can be categorized into Hospital, Clinic, Household, Other.
Multi-specialty hospitals accounted for the largest market share in the segment in 2022 due to rapid adoption of advanced seasonal affective disorder surgical products and skilled nursing staff. In addition, government initiatives to improve health infrastructure and increasing amount Seasonal mood disorders surgeries such as minimally invasive spine surgeries and others are expected to gain momentum during the expected period.
On the other hand, the skin clinic segment is growing the fastest post-pandemic due to spending on various health needs.
The fastest growing and dominant segment in the field of seasonal affective disorder is the household. The home segment is mainly driven by the increase in self-care awareness, the availability of online trainings that promote mental health, the increase in the use of smartphones and the internet, and the rise of mental health applications. Online mental health therapy classes and sessions are already gaining popularity among the general public because they offer a wide range of services at a very affordable price. As a result, several prominent companies are investing heavily in developing effective digital health applications at competitive prices.
DRIVING FACTORS
"Research And Development Expertise And Bipolar Disorders Segment Holds A Major Share In The Market Growth"
Bipolar disorder is expected to gain significant market share during the forecast period. Factors responsible for the growth of this segment include increasing prevalence of bipolar disorder due to various risk factors such as high stress, drug addiction and other emerging initiatives. The increasing incidence of seasonal affective disorder is expected to drive the global seasonal affective disorder market growth. The incidence of seasonal affective disorder is expected to drive the growth of the market during the forecast period. Increasing spending on research and development, particularly in developed and emerging economies, in the treatment of seasonal affective disorder continues to create lucrative growth opportunities in the market. Market growth is also supported by research and development work to develop new treatments for the disease.
"Increasing cases of depression and SAD across the world to boost market growth"
Market expansion is fueled by the prevalence of seasonal affective disorder and depression and increasing R&D activity. For example, according to the American Psychiatric Association's October 2020 update, seasonal affective disorder, a type of depression that peaks in winter, affects 5% of American adults. In addition, more than a third of 16-year-olds have SAD, are suspected of having SAD or have a bad mood during autumn and winter, according to the September 2021 update from the UK National Health Service. Seasonal affective disorder affects one in twenty people in the UK. According to the study, women are in a bad mood more often than men in autumn and winter. Such factors have increased the seasonal affective disorder market CAGR globally in recent years. Additionally, the Anxiety and Depression Foundation's updated June 2022 Facts and Figures show that generalized anxiety disorder affects 6.8 million adults, or 3.1 percent of the U.S. population, each year. As a result, the incidence of depression and SAD across the globe is likely to increase the seasonal affective disorder market revenue during the forecast period.
RESTRAINING FACTORS
"High Costs And Side Effects And Safety Concerns Associated With The Treatment Of Seasonal Affective Disorder"
The costs associated with treating seasonal affective disorder, including light therapy equipment, medications, therapy sessions and complementary therapies, can be a significant barrier. High treatment costs can limit the affordability and availability of products and services related to seasonal affective disorder, especially in areas with limited health care or lower income. Some treatments for seasonal affective disorder, such as medications or certain light therapy devices, may have potential side effects or safety concerns. This can prevent individuals from seeking or continuing treatment, affecting seasonal affective disorder market growth and adoption of certain procedures.
SEASONAL AFFECTIVE DISORDER MARKET REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"Prevalence Of Seasonal Affective Disorder In North America Is Expected To Drive The Growth Of The Market"
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America and Middle East and Africa.
North America is expected to dominate the global seasonal affective disorder market share due to the presence of seasonal affective disorder in the region. North America is expected to dominate the seasonal affective disorder market due to the large number of healthcare facilities, strong market presence of prominent players, increasing prevalence of seasonal affective disorder among the population and growing research activities in the region.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The seasonal affective disorder market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Major market players are investing heavily in R&D to expand their product lines, which will help the seasonal affective disorder market grow further. Market participants also engage in various strategic activities to expand its global footprint, including market developments such as new product launches, contractual arrangements, mergers and acquisitions, larger investments and cooperation with other companies. Competitors in the seasonal affective disorder space must deliver cost-effective products to expand and succeed in an increasingly competitive and growing market environment.
List of Market Players Profiled
- AbbVie Inc. (US)
- Allergan (Republic of Ireland)
- Bayer AG (Germany)
- Bristol-Myers Squibb Company (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Henry Schein (US)
- Pfizer Inc. (US)
INDUSTRIAL DEVELOPMENT
February 2022: Granules India has received approval from the US Food and Drug Administration to market bupropion hydrochloride extended-release tablets in the US for the treatment of depression and seasonal affective disorder.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 531 Million in 2019 |
Market Size Value By |
US$ 627.3 Million by 2026 |
Growth Rate |
CAGR of 2.4% from 2019 to 2026 |
Forecast Period |
2019-2026 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the seasonal affective disorder market expected to touch by 2026?
The global seasonal affective disorder market is expected to reach USD 627.3 million by 2026.
-
What CAGR is the seasonal affective disorder market expected to exhibit by 2026?
The seasonal affective disorder market is expected to exhibit a CAGR of 2.4% by 2026.
-
Which are the driving factors of the seasonal affective disorder market?
Research and development expertise and bipolar disorders segment and Increasing cases of depression and SAD across the world are some of the driving factors of the Seasonal Affective Disorder market.
-
What are the key seasonal affective disorder market segments?
The key Seasonal Affective Disorder market segmentation that you should be aware of, which include, Based on type the seasonal affective disorder market is classified as Light Therapy, Medications, Others. Based on application the seasonal affective disorder market is classified as Hospital, Clinic, Household, Other.