치료 저항성 우울증 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the treatment-resistant depression market size is expected to grow from USD 2.16 billion in 2025 to USD 2.33 billion in 2026 and is forecast to reach USD 3.36 billion by 2031 at 7.64% CAGR over 2026-2031.

This report Segments the Industry Into by Drug Class (NMDA Receptor Antagonists, Atypical Antipsychotic Augmentation and More ), by End User (Hospitals, Specialty Clinics and More), by Distribution Channel (Retail Pharmacies, Hospital Pharmacies and More) and Geography (North America, Europe, Asia-Pacific and More). The Market Forecasts are Provided in Terms of Value (USD).

Global Treatment-Resistant Depression Market Trends and Insights

Monoamine-based antidepressants leave 70% of patients without full remission, and this unresolved burden fuels continuous demand for alternatives that work on glutamatergic, GABAergic, and neuroplasticity pathways. Stanford researchers segmented major depressive disorder into six biological subtypes, demonstrating that treatment-resistant depression is a heterogeneous collection of conditions rather than a single disease. Biomarker-driven trials now enroll smaller but more responsive cohorts, improving study power and reducing development risk. Pharmaceutical pipelines increasingly test agents in matched subpopulations where response probabilities are higher. Health-economic models forecast that every 1-percentage-point improvement in functional remission cuts long-term medical spending by USD 220 million across the United States alone, reinforcing the commercial logic behind personalized strategies. Together, these dynamics ensure sustained momentum for therapies that promise faster action, neuroplastic repair, and durable symptom relief.

Rapid Commercial Uptake of Esketamine in Key Markets

Esketamine's real-world 25.6% functional remission rate versus 11.5% for older add-on options translates into tangible workplace productivity gains and drives positive word-of-mouth among psychiatrists. The United States widened the label to include monotherapy in January 2025, effectively doubling the treatable population because clinicians can now start esketamine earlier. Europe follows a cautious but still positive course, with several national agencies issuing conditional reimbursement linked to outcomes monitoring. Registries in Canada, Germany, and Japan track functional changes six months post-induction and feed live dashboards that inform payer renewals. Hospital buying committees increasingly bundle REMS-compliant rooms with esketamine supply contracts, locking in steady demand.

High Cost and REMS Burden for Intranasal Esketamine Administration

Risk Evaluation and Mitigation Strategy protocols stipulate two-hour on-site monitoring after each dose, driving fixed clinic costs independent of patient numbers. Real-world audits show median induction phases extending to 64 days instead of the recommended 28 days, inflating staffing and facility expenses. Smaller hospitals struggle to justify dedicated rooms and trained personnel, pushing patients toward larger centers and lengthening travel times. The United Kingdom's cost watchdog declined broad National Health Service funding in 2024, citing unfavorable incremental cost-effectiveness ratios, which illustrates how financial and operational hurdles can stall adoption even when clinical benefit is clear. Manufacturers respond by developing once-weekly or extended-release formulations that could cut monitoring windows in half, but these remain several years from approval.

Other drivers and restraints analyzed in the detailed report include:

1. Rising Payer Willingness to Reimburse Novel-Mechanism Add-Ons
2. Psychedelic-Assisted Therapy Clinics Scaling in North America & Europe
3. Stringent Insurance Step-Edit Requirements Delaying Uptake

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

In 2025, NMDA receptor antagonists generated 41.78% of treatment-resistant depression market revenue. Esketamine accounts for the bulk of this share, buoyed by consistent real-world remission data and the January 2025 monotherapy approval that broadened its reach. Psychedelics and novel compounds represent the fastest-growing drug class with an 7.80% CAGR forecast to 2031, a trajectory underpinned by the COMP360 Phase 3 success that demonstrated a 3.6-point mean MADRS advantage over placebo. The treatment-resistant depression market size attributable to psychedelics is expected to surpass USD 645.7 million by 2031, assuming regulatory approvals across at least three major regions.

Competitive dynamics are shifting as large pharmaceutical firms buy or license early-stage psychedelic assets, recognizing their potential to complement existing portfolios. At the same time, extended-release ketamine candidates could lower monitoring burdens and draw volume back toward the established NMDA category. Atypical antipsychotic augmentation regimens remain relevant for clinicians familiar with the protocols, but their growth moderates because of metabolic side-effects and payer scrutiny. Triple reuptake inhibitors and neuroactive steroids occupy a promising but still emergent niche, with early-phase data suggesting synergistic action when combined with glutamatergic modulators.

Complete Report Scope:

• By Drug Class (Value)
  • NMDA Receptor Antagonists
  • Atypical Antipsychotic Augmentation
  • Monoamine Modulators (SSRI/SNRI, MAOI, TCA)
  • Psychedelics & Novel Compounds
  • Others
• By End User (Value)
  • Hospitals
  • Specialty Clinics
  • Homecare & Telepsychiatry
  • Research & Academic Centers
• By Distribution Channel (Value)
  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies
• By Geography (Value)
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East and Africa
    • GCC
    • South Africa
    • Rest of Middle East and Africa

Geography Analysis

North America generated 47.91% of 2025 revenue and remains the reference market for regulatory and reimbursement precedents. The January 2025 United States decision to permit esketamine monotherapy immediately expanded the treatment-resistant depression market size across the region. Canada's Special Access Program issued 176 psilocybin exemptions with a 78% approval rate, producing post-session data that informs subsequent label expansions. Payer adoption is streamlined by established diagnostic coding and outcome registries that track functional remission, work attendance, and hospital readmission in near real time. The ecosystem's maturity ensures that new entrants can scale quickly once they secure approval.

Europe contributes a significant revenue block thanks to strong academic networks and multinational consortia that facilitate Phase 3 trials. The European Medicines Agency signaled openness to innovative mental-health interventions during its 2024 workshop, yet reimbursement debates continue at the member-state level. Germany and the Netherlands show the highest clinic density and earliest psychedelic pilot programs, whereas some Southern European markets still focus resources on conventional pharmacotherapy. Despite this variability, continental alignment on clinical-trial requirements accelerates dossier preparation for psychedelics, NMDA modulators, and neuroactive steroids alike.

Asia Pacific is the fastest-growing geography with an 8.51% CAGR projected through 2031. Japan leads clinical adoption of non-invasive brain stimulation and provides a model for outcome-based reimbursement. Australia broke new ground by approving psilocybin therapy in 2023, catalyzing regional investment in purpose-built clinics and therapist training pipelines. China's mental-health reforms elevate the importance of early diagnosis and escalate demand for rapid-acting solutions, although domestic approval pathways still prioritize local data. South Korea and Singapore leverage robust biotech ecosystems to host multi-center trials that produce Asia-specific safety and efficacy evidence. Overall, the region's demographic scale, rising disposable income, and evolving regulatory clarity make it an indispensable growth vector for global players.

1. Johnson & Johnson
2. Alkermes plc
3. H. Lundbeck
4. Otsuka
5. Axsome Therapeutics
6. Relmada Therapeutics, Inc.
7. Sage Therapeutics
8. Seelos Therapeutics, Inc.
9. COMPASS Pathways plc
10. GH Research PLC
11. Biohaven Ltd.
12. Atai Life Sciences N.V.
13. Revive Therapeutics Ltd.
14. Teva Pharmaceutical Industries
15. Dr. Reddy's Laboratories Ltd.
16. Cipla
17. Sun Pharmaceuticals Industries
18. Viatris
19. Pfizer
20. GlaxoSmithKline

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions & Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Growing Prevalence of Partial/non-response to SSRI/SNRI Therapy
  • 4.2.2 Rapid Commercial Uptake of Esketamine (Spravato) in Key Markets
  • 4.2.3 Rising Payer Willingness to Reimburse Novel-mechanism Add-ons
  • 4.2.4 Psychedelic-assisted Therapy Clinics Scaling in North America & Europe
  • 4.2.5 FDA Breakthrough & Fast-Track Designations Accelerating Pipelines
  • 4.2.6 AI-enabled Precision-psychiatry Tools Boosting Treatment Matching
• 4.3 Market Restraints
  • 4.3.1 High cost & REMS Burden for Intranasal Esketamine Administration
  • 4.3.2 Stringent Insurance Step-edit Requirements Delaying Uptake
  • 4.3.3 Social-stigma & Regulatory Uncertainty Around Psychedelic Agents
  • 4.3.4 Limited Specialist Capacity for Intensive Dosing & Monitoring
• 4.4 Value / Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Buyers
  • 4.7.3 Bargaining Power of Suppliers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Competitive Rivalry

5 Market Size & Growth Forecasts

• 5.1 By Drug Class (Value)
  • 5.1.1 NMDA Receptor Antagonists
  • 5.1.2 Atypical Antipsychotic Augmentation
  • 5.1.3 Monoamine Modulators (SSRI/SNRI, MAOI, TCA)
  • 5.1.4 Psychedelics & Novel Compounds
  • 5.1.5 Others
• 5.2 By End User (Value)
  • 5.2.1 Hospitals
  • 5.2.2 Specialty Clinics
  • 5.2.3 Homecare & Telepsychiatry
  • 5.2.4 Research & Academic Centers
• 5.3 By Distribution Channel (Value)
  • 5.3.1 Retail Pharmacies
  • 5.3.2 Hospital Pharmacies
  • 5.3.3 Online Pharmacies
• 5.4 By Geography (Value)
  • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
  • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 France
    • 5.4.2.4 Italy
    • 5.4.2.5 Spain
    • 5.4.2.6 Rest of Europe
  • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 India
    • 5.4.3.3 Japan
    • 5.4.3.4 South Korea
    • 5.4.3.5 Australia
    • 5.4.3.6 Rest of Asia-Pacific
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
  • 5.4.5 Middle East and Africa
    • 5.4.5.1 GCC
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Market Share Analysis
• 6.3 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products & Services, and Recent Developments)
  • 6.3.1 Johnson & Johnson (Janssen)
  • 6.3.2 Alkermes plc
  • 6.3.3 H. Lundbeck A/S
  • 6.3.4 Otsuka Pharmaceutical Co., Ltd.
  • 6.3.5 Axsome Therapeutics, Inc.
  • 6.3.6 Relmada Therapeutics, Inc.
  • 6.3.7 Sage Therapeutics, Inc.
  • 6.3.8 Seelos Therapeutics, Inc.
  • 6.3.9 COMPASS Pathways plc
  • 6.3.10 GH Research PLC
  • 6.3.11 Biohaven Ltd.
  • 6.3.12 Atai Life Sciences N.V.
  • 6.3.13 Revive Therapeutics Ltd.
  • 6.3.14 Teva Pharmaceutical Industries Ltd.
  • 6.3.15 Dr. Reddy's Laboratories Ltd.
  • 6.3.16 Cipla Ltd.
  • 6.3.17 Sun Pharmaceutical Industries Ltd.
  • 6.3.18 Viatris Inc. (Mylan)
  • 6.3.19 Pfizer Inc.
  • 6.3.20 GlaxoSmithKline plc

7 Market Opportunities & Future Outlook

• 7.1 White-space & Unmet-need Assessment