Esketamine Nasal Spray Market size is expected to reach USD 33 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of esketamine nasal spray crossed around USD 24 Billion. The primary factor that is set to drive the market for esketamine nasal spray and take it to the expected growth is the rise in the number of patients who require esketamine nasal spray. To illustrate a study made in 2023 almost 27.1% of patients on esketamine NS received remission and require this to cure their problem of depression. As Esketamine are utilized for treatment-resistant depression, and it is the patients’ first choice to have esketamine NS.
Additionally, another factor that will cast the esketamine nasal spray market to its expected growth is the several initiatives that were continuously taken by the world powers to combat the condition of depression. In 2019, WHO created the WHO Special Initiative for Mental Health (2019-2023): Universal Health Coverage for Mental Health to ensure the availability of quality and affordable care for mental health conditions in 12 priority countries to 100 million more people. Depression and self-harm/suicide are among the most important situations covered by WHO’s Mental Health Gap Action Programme (mhGAP) in 2023. The program focuses on assisting countries to prevalent services for people with mental, neurological, and material implementation disorders through attention given by health workers who are not experts in mental health. WHO has formulated concise psychological intervention manuals for depression that may be submitted by lay therapists to singles and groupsFurthermore, the Group Interpersonal Treatment for depression manual explains group treatment of depression. Lastly, the Thinking Healthy manual encircles the utilization of cognitive-behavioral treatment for ante-natal depression.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
∼7% |
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Base Year Market Size (2023) |
~USD 24 Billion |
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Forecast Year Market Size (2036) |
~USD 33 Billion |
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Regional Scope |
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Type (General Anaesthetics, Treatment-Resistant Depression)
The treatment-resistant depression segment in the esketamine nasal spray market is anticipated to grow massively during the forecast period and is expected to have a revenue share of around 63% by the end of 2036 in the market. The surge in the frequency of treatment-resistant depression and the existence of few treatment choices has further stimulated the market players to begin research and development activities in full bloom. For instance, an open-label, global study released on October 04, 2023, discovered that patients getting SPRAVATO (esketamine) CIII nasal spray for treatment-resistant depression (TRD) were 1.54 times as possibly to get remission after eight weeks than those cured with quetiapine extended-release (XR) at Week 8. The rising occurrence of treatment-resistant depression has created awareness concerning its therapy. Various market players are making progressed medications that can be managed through nasal and intravenous routes instead of the conventional oral route of administration. The increasing growth of novel therapeutics implemented for the therapy of resistant depression by market players to launch their novel materials is projected to lift the esketamine nasal spray market.
Patient (Adult, Pediatric, Geriatric)
The adult segment is estimated to hold 59% share of the global esketamine nasal spray market by 2036. The reason behind this growth is completely due to the prevalence of adult depression across the world. About 5% of adults internationally have depression. That number is likely even higher as not everyone who has depression obtains an official diagnosis. In fact, according to the study' 50% of mental health problems are established by age 14 and 75% by age 24. Young adults 18 to 25 years old are at the highest risk of a major gloomy episode per a report from the National Institute of Mental Health. Most people take time to come to terms with nerve-racking events, like mourning or a relationship failure. When these nerve-racking events appear, the risk of becoming depressed is enhanced if an individual stops meeting with friends and family and tries to work with their issues on their own.
Our in-depth analysis of the global esketamine nasal spray market includes the following segments:
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Type |
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Application |
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Patient |
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Prescription |
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North American Market Analysis
The esketamine nasal spray market is anticipated to account for 38% of the revenue share in the coming years. The major factor that is expected to boost the esketamine nasal spray market growth in the region is the increasing prevalence of depressed Americans. A calculated 2 million times each year, people with severe mental health situations are jailed or imprisoned in the U.S. Women are inordinately influenced at twice the rate as men. For this population, detention may worsen pre-existing indications. In fact, while the percentage of U.S. adults getting mental health therapy rose from 19.2% in 2019 to 21.6% in 2021, 42% of U.S. adults with an identifiable situation reported in 2023 that they could not afford to avail the therapy they required. A trio of new studies paints a gloomy picture of how overdose deaths, depression, and obstacles to care are burdening heaviest on unprivileged and minority people - and are arranging to broaden health discrepancies as the U.S. appears from the pandemic.
European Market Forecast
The esketamine nasal spray market in the Europe region is poised to show a notable growth in the upcoming years. The consumption of antidepressant drugs (AD) and esketamine nasal spray has grown drastically in the last two decades in the Europe region The implementation of antidepressants grew by almost two and a half times from 2000 to 2020 in 18 European countries, in line with the Organization for Economic Cooperation and Development (OECD) data. The average antidepressant ingestion around 18 European countries was 30.5 DDD per 1,000 people per day in 2000 increasing to 75.3 DDD in 2020, a 147 per cent rise. The European Parliament has always been an advocate of the encouragement of good mental health and keeping mental health at the heart of EU managerial. Its Subcommittee on Public Health (SANT) is recently developing its initiative report on mental health.
Author Credits: Radhika Gupta, Shivam Bhutani
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