China Depression Therapeutics Market Analysis

China Depression Therapeutics Market Executive Analysis

China's depression therapeutics market size is at around $812 Mn in 2022 and is projected to reach $1,364 Mn in 2030, exhibiting a CAGR of 6.7% during the forecast period. China, a nation of more than 1.4 Bn people, spent enormous amounts of money constructing isolation facilities and temporary hospitals as well as conducting mass testing as part of its strict zero-Covid policy. According to its financial report, which was published in early January, Guangdong province alone spent $10.5 Bn on prevention and control last year, a rise of 57% from 2021. This brought its total spending over the previous three years to $21.27 Bn, nearly doubling it. The southeast Chinese county of Fujian also made $2 Bn in investments to combat the coronavirus pandemic last year, an increase of 56% from 2021. According to its financial report, which was published in January, it expended 30.5 Bn yuan in total over the previous three years.

The expected national prevalence of depression in China was 26.9%. According to estimates, depressive illnesses are the second most common reason for years spent with a disability in China. The central and municipal governments in China are paying more and more attention to people's mental health, including depression and depressive symptoms, which were previously a low priority on their agenda. Governments have enacted several laws, policies, and regulations to improve the availability and calibre of mental health services and increased public mental health knowledge to promote mental health.

The key to treating depression is to quickly produce an antidepressant effect. Psychiatrists in China are interested in ketamine, a non-competitive N-methyl-D-aspartate receptor antagonist, as they look for the elusive "magic cure" for depression. In the rat prefrontal brain and hippocampus, interleukin (IL)-1 and IL-6 levels are lower when ketamine is used to treat depression. Rat prefrontal cortex synaptogenesis is induced by ketamine by quickly activating the rapamycin pathway. The pathogenesis of depression may be attributed to aberrant neuronal plasticity in glutamatergic pathways, which makes it a potential target for quick antidepressant benefits.

Antipsychotics, mood stabilizers, anxiolytics (such as benzodiazepines and buspirone), thyroid hormone, vitamin D, fish oil, omega-3 fatty acids, and folate are some of the medications that can be used to manage Major depressive disorder (MDD). The Chinese guidelines for treating and preventing depression indicate that cautiously combining therapies, such as SSRIs and TCAs or SSRIs and mirtazapine, would be beneficial for Treatment-Resistant Depression (TRD) patients. Depression symptoms are thought to be improved by atypical antipsychotic addition, such as risperidone, olanzapine, ziprasidone, and aripiprazole.

Market Dynamics

Market Growth Drivers

With roughly 54 Mn people suffering from the condition, depression is a growing public health concern in China. The widespread prevalence of depression is fueling the market. In China, there has been an increase in understanding of mental health over time. Due to the increased willingness of people to seek help for their mental health problems, there is a greater demand for depression therapeutics. Transcranial magnetic stimulation (TMS) and ketamine infusions are two innovative treatments for depression that have emerged as a result of technological advancements. The expansion of the China depression therapeutics market is being driven by these novel treatment options.

Market Restraints

Pharmaceutical businesses may find it challenging to launch novel depression medicines in China due to the country's multifaceted and erratically changing regulatory atmosphere. Drug research could be delayed and expensive as a result, which could prevent investment.  Despite growing mindfulness of mental health in China, there is still a main stigma around depression and other mental diseases. This can make it challenging for both patients and medical professionals to precisely diagnose and treat depression.  In China, traditional Chinese medicine and other complementary treatments are well-liked and may be considered a substitute for Western-style antidepressants. This might diminish the country's market segment for antidepressants which could limit the development of China's depression therapeutics market.

Competitive Landscape

Key Players

• Shanghai Fosun Pharmaceutical (CHN)
• Huadong Medicine (CHN)
• Jiangsu Hansoh Pharmaceutical (CHN)
• Walvax Biotechnology (CHN)
• Shanghai Pharmaceuticals (CHN)
• AstraZeneca
• GlaxoSmithKline
• Elly illy
• Allergan
• Takeda Pharmaceutical
• Intellipharmaceutics
• Otsuka Holdings

Healthcare Policies and Regulatory Landscape

In China, a variety of medical treatments, including those for mental health, are covered by the National Basic Medical Insurance program. A portion of the expense of outpatient and inpatient care, including psychotherapy and medication, is covered by the program. Selective serotonin reuptake inhibitors (SSRIs) and tricyclic antidepressants are two of the medications for the treatment of depression that are listed on China's Essential Medicines List. (TCAs). The National Basic Medical Insurance scheme covers these medications. Pilot initiatives for the reimbursement of mental health services have been put in place in some Chinese provinces. Patients with mental disorders, such as depression, are covered for psychotherapy and medication under these programs. 2019 saw the introduction of a new severe mental disease reimbursement policy in China, according to the Ministry of Human Resources and Social Security. Patients who suffer from severe mental illnesses, such as severe depression, are qualified for a greater degree of hospitalization and medication reimbursement under this policy.