The devastating effects of depression cause suffering to countless families each year and also lead to staggering economic losses. For instance, according to research published in PharmacoEconomics, the economic burden of adults suffering from major depressive disorder (MDD), which is one of the several kinds of depression, stood at a whopping $362 billion in 2020. This marked a massive 37.9% growth from 2010 values, and the growth indicates that unless effective depression treatments are developed, the costs of the mental health disease will only rise. Delving deeper into the costs, researchers reveal that this economic burden consists of direct costs, suicide related costs, and workplace costs. The workplace costs make up the biggest component as they account for 73% of the total.
Researchers in China have an interesting study on this topic. Typically, it's thought that as the economy falters, rates of mental health disturbances and depression go up in society. Assuming this to be true, it's only natural to assume that the reverse is also true i.e. as the economy grows, mental health should also improve. Well, as is the case with most things, the inverse relationship isn't really that simple. The researchers used data from the China Health and Retirement Longitudinal Study (CHARLS) of people 45 years or older, and assessed them for several indicators of mental health. They concluded that higher growth rates of gross domestic product (GDP per capita) led to higher scores in depression, life impairment, and cognitive dissatisfaction. Food for thought, huh?
It's clear that whether the economy is good or bad, depression's here to stay. Naturally, this opens up a large market to develop and sell treatments. On this front, the research firm Emergen Research believes that the global anxiety and depression market was worth $12.06 billion in 2019 and is set to grow at a compounded annual growth rate (CAGR) of 2.9% from then until 2027 to be worth $16 billion as 2027 ends. There are several treatments available for depression, which include medications such as antidepressants, behavioral therapy such as cognitive behavioral therapy, and stimulative methods such as Electroconvulsive therapy (ECT).
Believe it or not, the ECT market is one of the fastest growing treatments for depression - perhaps because it is also one of the smallest. According to Precedence Research, the global shockwave market was worth $1.2 billion in 2021 and will more than double by 2030 by growing at 11.2% and sitting at $3.1 billion. Of course, this market is also made of non mental health treatments such as sports injuries. However, depression has the potential to 'stimulate' the market as well, as several reports such as those from the Korean Psychiatric Association outline that ECT sees a response rate in up to 90% of MDD cases.
Cities with the Highest Depression Rates in the U.S.
Moving forward to new treatments, particularly pharmacological ones, for depression, two such drugs are the first to secure approval from the Federal Drug Administration (FDA) in decades. The first of these is esketamine, approved in 2019, and the second is Dextromethorphan/bupropion, which was approved just last year. The former is sold by a subsidiary of Johnson & Johnson (NYSE:JNJ), and is marketed as Spravato, and the second is marketed by Axsome Therapeutics, Inc. (NASDAQ:AXSM) as Auvelity.
Since it is a freshly launched drug, Johnson & Johnson cannot yet specifically provide figures for Spravato's sales. However, during its latest earnings call for the results for the fourth quarter of 2022, the firm shared that the drug will be part of its future growth. During the event, the company's management outlined:
We expect to again deliver above-market growth in 2023, driven by key assets such as DARZALEX, ERLEADA, TREMFYA, GA SUSTENNA and UPTRAVI as well as continued uptake of recently launched products, such as CARVYKTI, SPRAVATO and TECVAYLI. This growth is despite lower Pharmaceutical market growth than experienced in recent years and considers the STELARA loss of exclusivity, which we anticipate occurring in late 2023 in the U.S. While we continue to expect volume growth for STELARA in the U.S. up to the LOE date, we expect this growth to be offset by pricing pressure. Further, we continue to expect a 2023 impact from other post-LOE products as well as potential increased austerity measures across Europe.
Biogen Inc. (NASDAQ:BIIB) and Sage Therapeutics, Inc. (NASDAQ:SAGE) are developing a treatment called zuranolone which might be needed to be used for as little as two weeks. Sage's management shared details about this drug in an earnings call as it shared:
Starting with our depression franchise. We recently shared new analyses and additional data from the zuranolone clinical development program at the 2022 site Congress and the 35th European College of Neuropsychopharmacology, or ECMP Congress. These presentations included data from the SHORELINE Study, and health economics and outcomes research, as well as the presentation of data from the SKYLARK Study. The analyses and data presented continue to build on the positive data we’ve shared earlier in the year. I want to highlight a few of the key themes that support the potential for zuranolone. First, the analyses highlight the rapidity of onset of zuranolone seen in patients with both MDD and PPD in our clinical trials.
With these details in mind, let's take a look at some U.S. cities with the highest depression rates.
Our Methodology
To compile our list of America's most depressed cities, we used data from CEUfast, a nursing education provider operating for decades with accredited courses. Their data covers the percentage of the population of metropolitan areas with depression, with fifty total entries. Out of these, the top twenty cities with the highest depression in the U.S. are listed below.
