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Mental Health Clinical Trials Market To Reach $5.10 Billion By 2030

The global mental health clinical trials market size is expected to reach USD 5.10 billion by 2030, registering a CAGR of 8.3% over the forecast period, according to a new report by Grand View Research, Inc. Mental health has become a major area of concern globally, and the need for effective treatments and therapies has become more pressing than ever. Due to the rising incidence of mental diseases like bipolar disorder, anxiety, and depression, mental health has become a major global problem. The market for mental health clinical trials has expanded as a result of the rising prevalence of these disorders and the increased demand for effective treatments and cures.

Also, the industry has expanded as a result of governments and private groups investing more money in clinical trials and mental health research. The need for effective therapies has grown as a result of the increased knowledge and openness surrounding mental health. Additionally, new avenues for mental health therapies have been made possible by technical developments like telemedicine and digital pharmaceuticals. The market for mental health clinical trials is expanding as a result of these developments, which have made it possible for patients to receive more creative and individualized therapies.

Due to their strong dedication to research and development, which is fostering the creation of novel therapies for mental health diseases, the pharmaceutical and biopharmaceutical market has dominated the market for mental health clinical trials. Clinical trials are being substantially funded by pharmaceutical and biopharmaceutical companies in order to evaluate the efficacy and safety of their products before regulatory agencies like the FDA approve them. In recent years, several pharmaceutical and biopharmaceutical companies have made significant advancements in developing mental health treatments.

For instance, in 2019, U.S. FDA approved Spravato, a nasal spray to be used for the treatment of depression in adults. The drug contains a chemical called Esketamine, which works differently from traditional antidepressants and can produce rapid results in patients. The market for mental health clinical trials is anticipated to expand as long as pharmaceutical and biopharmaceutical businesses continue to make research and development investments. Their emphasis on the creation of efficient cures and treatments for mental health issues has the potential to greatly enhance the lives of people with these conditions.

Mental Health Clinical Trials Market Report Highlights

The phase 3 segment dominated the market in 2022 with a maximum revenue share of 31.0%. Phase 3 clinical trials are the most advanced stage of drug development, involving large numbers of patients, and thus, they dominate the market.
Observational category in the study design segment is anticipated to witness fastest growth of 8.6%. Observational studies are less invasive, have fewer ethical considerations, and are more cost-effective, which makes them the preferred study design
Pharmaceutical and biopharmaceutical companies dominated the mental health clinical trials market in the sponsor segment with revenue share of 39.6%. This is due to their strong commitment to research and development, which drives the development of new and innovative treatments for mental health disorders
Depression dominated the mental health clinical trials market in the disorder segment with a revenue share of 22.6% in 2022, due to its high prevalence, significant economic burden, and increasing demand for effective treatments
North America held the maximum revenue share of 50.3% in the global market in 2022 due to factors such as the presence of key market players, advanced healthcare infrastructure, and increasing investment in research and development activities. This region has a well-established healthcare system that supports the development and commercialization of new therapies, which contributes to its dominance in the market

Mental Health Clinical Trials Market Segmentation

Grand View Research has segmented the global mental health clinical trials market based on phase, study design, sponsor, disorder, and region:

Mental Health Clinical Trials Phase Outlook (Revenue, USD Billion, 2018 - 2030)