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Comparative effectiveness and safety of esketamine versus injectable racemic ketamine and oral antidepressants for major depressive disorder: A population-based target trial emulation.

Ching-Hua Julie Lee, Yunzhe Qian, Weiqun Yu, Cristina Cusin, Kevin Sheng-Kai Ma

Journal of Affective Disorders August 1, 2026 DOI: 10.1016/j.jad.2026.121487 (opens in new tab)

Study at a glance

AI-extracted from the abstract
Characteristics Emulated target trial using observational data Peer reviewed
Sample size 1,089,419
Population U.S. adults with major depressive disorder between 2018 and 2024
Interventions Esketamine Injectable R S-ketamine Oral antidepressants
Topics Depression Esketamine Ketamine
Keywords Outcomes Safety
Key findings Esketamine was associated with higher risks of suicidal ideation, generalized anxiety disorder, insomnia, and cardiac arrest compared with injectable ketamine, but lower risks of suicidal ideation, suicide attempt, and generalized anxiety disorder compared with oral antidepressants, although with a higher risk of cardiac arrest.

Abstract

This study evaluated the long-term comparative effectiveness and safety of esketamine versus injectable ketamine and esketamine versus oral antidepressants for major depressive disorder (MDD). This emulated target trial utilized observational data from a cohort of U.S. adults with MDD between 2018 and 2024. Patients were categorized into those receiving esketamine, injectable R,S-ketamine, and those with treatment-resistant depression (TRD) prescribed at least two classes of oral antidepressants. Esketamine initiators were matched to injectable R,S-ketamine initiators and to patients receiving oral antidepressants using propensity scores based on clinical and demographic factors. Outcomes included suicidal ideation or attempt, neuropsychiatric, and cardiovascular outcomes. Cox proportional hazards regression was used to estimate the risk of outcomes. A total of 4505 esketamine initiators, 197,694 injectable R,S-ketamine initiators, and 887,220 patients receiving oral antidepressant were included. After propensity score matching, compared with injectable R,S-ketamine initiators, esketamine initiators were associated with higher risks of suicidal ideation (HR = 1.24, 95% CI = 1.06-1.46), generalized anxiety disorder (HR = 1.55, 95% CI = 1.37-1.74), insomnia (HR = 1.25, 95% CI = 1.07-1.46), and cardiac arrest (HR = 1.57, 95% CI = 1.21-2.20). Compared with patients with TRD receiving oral antidepressants, esketamine initiators were associated with lower risks of suicidal ideation (HR = 0.89, 95% CI = 0.83-0.96), suicide attempt (HR = 0.71, 95% CI = 0.56-0.90), and generalized anxiety disorder (HR = 0.82, 95% CI = 0.74-0.91), but a higher risk of cardiac arrest (HR = 2.09, 95% CI = 1.50-2.91). Injectable R,S-ketamine demonstrated a more favorable safety and effectiveness profile than esketamine, whereas esketamine was associated with greater effectiveness but a higher risk of cardiac arrest compared with oral antidepressants. Head-to-head clinical trials are needed to validate these findings.

In the evidence

This study is part of the evidence base for a synthesis in the library. Here is how each one recorded it.

  • Esketamine was associated with higher risks of suicidal ideation, generalized anxiety disorder, insomnia, and cardiac arrest compared with injectable ketamine, but lower risks of suicidal ideation, suicide attempt, and generalized anxiety disorder compared with oral antidepressants, although with a higher risk of cardiac arrest.

    Synthesized

Comparable studies

Other non-randomized and open-label trials on esketamine for depression, most cited first.

Study Year Design Participants
Esketamine Nasal Spray Plus Oral Antidepressant in Patients With Treatment-Resistant Depression Adults (≥ 18 years) with treatment-resistant depression 2020 Phase 3, open-label, multicenter, long-term study n = 802
Long-Term Safety and Maintenance of Response With Esketamine Nasal Spray in Participants With Treatment-Resistant Depression: Interim Results of the SUSTAIN-3 Study Adults with treatment-resistant depression 2023 Open-label, long-term extension study n = 1,148
Safety and efficacy with esketamine in treatment-resistant depression: long-term extension study. Adults with treatment-resistant depression who participated in ≥1 of 6 phase 3 parent... 2025 Open-label, single-arm long-term extension study n = 1,148
Efficacy and Safety of Intranasal Esketamine in Patients With Treatment-Resistant Depression and Comorbid Chronic Post-traumatic Stress Disorder: Open-Label Single-Arm Pilot Study Patients with treatment-resistant major depressive disorder and comorbid post-traumatic... 2022 Open-label, single-arm, retrospective pilot study n = 11
Rapid and long-lasting effects of subcutaneous esketamine on suicidality: An open-label study in patients with treatment-resistant depression. Treatment-resistant depressive patients 2024 Open-label clinical trial n = 18

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