Brazil Depression Therapeutics Market Analysis

Brazil Depression Therapeutics Market Executive Analysis

The Brazil depression therapeutics market size is at around $253 Mn in 2022 and is projected to reach $409 Mn in 2030, exhibiting a CAGR of 6.2% during the forecast period. The healthcare industry in Brazil is the largest in Latin America and ranks eighth among all industries in the world, with $64 Bn in sales in 2022, up 11% from the previous year. Similar to Denmark, Brazil has an all-encompassing public health system called the SUS (Sistema nico de Sade), which was responsible for an investment of up to $25 Bn in 2022, 19% less than in 2021, primarily due to an improvement in the epidemiological scenario for Covid-19, which reduced costs with hospital assistance and epidemiological monitoring. Approximately 76% of Brazilians rely exclusively on SUS, while only 24% have access to private insurance.

From 7.9% in 2013 to 10.8% in 2019, the prevalence of depression rose by 36.7% in Brazil. This rise is higher among young adults without jobs, aged 18 to 24, where it nearly tripled (from 3.7 in 2013 to 10.3 in 2019), increasing by 178.4%. When compared to residents of rural areas (20.2%), those living in urban areas experienced a greater rise in the prevalence of depression throughout the six years (39.8%). The World Health Organization (WHO) released a survey1 on the two psychiatric conditions that impact the world's population most frequently: depressive and anxiety disorders, on February 23. Brazil places fifth in the world for rates of depression and first in the world for the prevalence of anxiety disorders, according to this study.

In several Latin American nations, mainly Brazil, amineptine was investigated in simple, open, and comparative trials. Amitriptyline generally produced favourable results in cases of depression where the inhibition sign is predominant. This medication also demonstrated excellent tolerance, allowing it to be given to elderly depression patients as well as those with medical conditions that preclude the use of traditional antidepressants. Because of this medication's quick start of the action and straightforward clinical administration, many additional studies on it have been conducted among general practitioners. Other professionals must pay attention to these powerful and secure antidepressants because many people who experience depression are not treated by psychiatrists.

Market Dynamics

Market Growth Drivers

In Brazil, 5.8% of people have depression, making it one of the more predominant mental health disorders. The rising incidence of depression in the nation is being attributed to an ageing population as well as increased knowledge and acceptance of mental health problems. Brazil has been increasing its healthcare spending in current years, which includes investment in mental health services, including the distribution of money for depression research and treatment. The Brazil depression therapeutics market has lengthened as a result of this support. The pharmaceutical business is constantly researching and generating new antidepressants and treatment options. The market for depression therapeutics is growing as a result of patients having more choices for therapy as new medicines become available.

Market Restraints

Countless people in Brazil still lack access to mental health amenities, including treatment for depression. Since patients might not be able to access or afford available treatments, this could confine the Brazil depression therapeutics market's capacity to develop.  Financial limitations, such as extreme poverty and discrimination, can restrict access to healthcare and decrease demand for antidepressant medicines. Patients might not be able to afford the existing treatments as a result, which could limit the market's growth. Because they must follow strict regulatory requirements, the development and approval of new depression treatments can be a time-consuming and expensive process in Brazil. This may prevent new treatments from becoming accessible sooner and halt the market from growing.

Competitive Landscape

Key Players

• Ache (BRA)
• EMS Pharma (BRA)
• Eurofarma (BRA)
• Neo Química (BRA)
• Mantecorp Farmasa (BRA)
• Elly Lilly
• Allergan
• Takeda Pharmaceutical
• Intellipharmaceutics
• Otsuka Holdings
• H.Lundbeck
• Apotex

Healthcare Policies and Regulatory Landscape

The Sistema nico de Sade (SUS), a public health system in Brazil, offers free or low-cost healthcare to all citizens. This involves having access to mental health services, such as depression treatment.  Moreover, a large portion of Brazilians has private health insurance, which can pay for a wider range of depression treatments, including psychotherapy and cognitive-behavioural therapy. Patients should express with their insurance provider to recognize their specific plan's coverage and compensation policies as they fluctuate based on the insurance provider. Depending on the SUS or private health insurance's coverage and compensation guidelines, some antidepressants may be covered. Patients periodically may be required to cover a share of the expense of their treatments out of pocket. For the purpose of confirming access to mental health services, including depression treatment, Brazil has a special legislature. The government is required to offer a variety of mental health services, including depression therapy, under the terms of the Lei da Sade Mental (Mental Health Law).