Clinical Insights • Hormones & Mood

Is It Anxiety or Perimenopause? Why Mood Changes Get Missed

Perimenopause can look like anxiety or depression. Here’s why mood changes get missed, how hormones fit in, and what a fuller look includes.


You sat in the exam room and told the truth. You said you’ve been anxious. Emotional. Not yourself.

You filled out a screening form. Maybe someone ran a basic panel. Maybe you left with a prescription.

And maybe it helped a little. Just not the way you expected. You’re sleeping a bit better, or the edge is softer, but something still feels off, and you’re not sure if that means you’re doing it wrong.

You’re not. I want to say that first, because so many women walk out of that appointment quietly wondering if the problem is them.

The question worth asking isn’t only “Is this anxiety?” but also “Is this perimenopause?” And often, the answer is some of both.

This post covers why perimenopause is so often mistaken for anxiety or depression, how hormones fit into the picture without replacing the care you’ve been given, and what a fuller look includes from a functional medicine perspective. Please don’t stop or change any medication on your own. Numbers in brackets point to the references at the end.

Woman in glasses pressing her hands to her face at her desk, looking overwhelmed
Anxiety and low mood are real, and in midlife, hormones may be part of the picture.
What the Numbers Say (and Don’t)

That “Nearly 40% Misdiagnosed” Headline

You may have seen the headline that nearly 40% of perimenopausal women are misdiagnosed. Here’s what that statistic actually is, because you deserve the real version.

Company Survey • 2025
Of women diagnosed and medicated for a condition like depression39%

said they believe they were misdiagnosed

The survey asked about 1,000 working U.S. women ages 30 to 60 and was commissioned by Biote, a hormone therapy company.[1] That’s what women believe, in a company-sponsored survey, not a measured medical misdiagnosis rate.

It doesn’t prove anything about any one provider. But it does reflect something I hear all the time in my practice: women feel unheard, and they sense that something got missed.

Why It Gets Missed

Short Appointments, Overlapping Symptoms

Providers aren’t careless. They’re working in short appointments with screening tools that ask about mood, but rarely about your cycle, your sleep, or your night sweats. And perimenopause isn’t taught well; many clinicians receive very little training in it.

On top of that, the symptoms overlap almost perfectly:

  • Anxiety
  • Low mood
  • Irritability
  • Poor sleep
  • Brain fog
  • Exhaustion

These show up in perimenopause and in depression and anxiety disorders. Often both are present. So a screening form sees the mood symptoms and treats the mood symptoms, which is a reasonable thing to do. It just may not be the whole picture.

A Window of Real Vulnerability

The risk of depressed mood rises during the menopause transition, even in women with no history of depression.[2], [3] A past history of depression, severe PMS or PMDD, or postpartum depression raises it further.[2]

The Brain Connection

Estrogen, Serotonin, and Your Mood

Estrogen isn’t just a reproductive hormone. It acts on the brain, including the serotonin system that helps regulate mood, sleep, and anxiety. Estrogen influences how serotonin is made, how it’s broken down, and how your brain responds to it.[4]

In perimenopause, estrogen doesn’t just drop. It swings, sometimes from very high to very low within the same month. And progesterone, which has a calming effect on the nervous system, often falls first. Your brain is adjusting to a shifting chemical environment. That can feel like anxiety, tearfulness, irritability, or a heaviness with no clear cause.

I want to be careful here, because it isn’t as simple as “estrogen drops, serotonin drops, so an antidepressant is the wrong treatment.” Mood is influenced by many things, and antidepressants help many women, including during this transition. SSRIs and SNRIs can also reduce hot flashes.[5], [6]

It isn’t hormones versus medication. It’s making sure the full picture gets looked at.

Pharmacist Note

Never stop an antidepressant abruptly. Stopping suddenly can cause withdrawal-like symptoms and a return of anxiety. If you want to change your medication, work with your prescriber on a plan. Also, some antidepressants can lower desire or make arousal harder,[7] which matters if intimacy has changed for you. It’s worth mentioning to your prescriber.

“It Helped a Little, but Not Completely”

The Layers That May Still Be Unaddressed

If that’s you, it doesn’t mean the medication failed. It may mean it’s addressing one layer while others are still unaddressed. These are the layers I look at:

Sleep

Night sweats, 3 a.m. wake-ups, and lighter sleep are common in the transition,[8] and sleep loss alone can look like anxiety and depression.

Thyroid

An underactive thyroid can cause low mood, fatigue, brain fog, and anxiety, and autoimmune thyroid disease is common in midlife.[9] I check TSH, free T3, free T4, and TPO antibodies.

Iron and Ferritin

Your brain needs iron to make serotonin, and low iron causes fatigue, low mood, and irritability. Heavier perimenopausal periods can deplete it. Ask for your actual ferritin number; many lab ranges only flag it below about 15 ng/mL,[10] and some women feel better when it’s higher.

Raw Materials for Serotonin

Making serotonin requires tryptophan from protein, plus iron, vitamin B6, and folate, among others. Not eating enough protein can leave you short.

B12 and Vitamin D

Particularly if you eat little animal protein, take acid-reducing medicines, get limited sun, or have darker skin. (See my complete guide to vitamin D.)

Blood Sugar

Glucose swings can look like anxiety: shaky, irritable, racing heart, then a crash. I look at fasting glucose, fasting insulin, and A1c together.

Stress Rhythm

If you’re wired at night and exhausted in the morning, your cortisol rhythm may be part of it.

Progesterone and Estrogen Swings

The hormonal piece, which is where the next step comes in.

Cover of What’s Your Hormone Type?, the free estrogen and progesterone balance quiz from Farmacy Counter
Free Assessment

Would You Like to See Where You Fit?

If your mood changed and no one has looked at the hormonal side, don’t guess. My free Hormone Type Assessment is a short quiz that helps you see whether your symptoms point toward:

  • Estrogen dominance
  • Estrogen deficiency
  • Progesterone deficiency
  • A mixed pattern
Take the Free Assessment →
The Functional Medicine Lens

What a Fuller Look Includes

A single blood test can’t diagnose perimenopause. Hormone levels swing from day to day, so a “normal” result on one day doesn’t rule it out. Perimenopause is identified mainly from your age, symptoms, and cycle changes.[11] (More on why normal labs can miss it.) So when I look at hormones, I look at the pattern:

  1. 1

    Your Story

    When did the changes start? Has your cycle shifted? Are periods heavier, closer together, or skipping? Do you have night sweats, PMS, or a history of postpartum depression?

  2. 2

    A Symptom and Cycle Log

    For two to four weeks, jot down the date, your mood, sleep, digestion, and any bleeding. The pattern often says more than a single lab.

  3. 3

    Targeted Labs

    Thyroid, ferritin with a complete blood count, B12, vitamin D, fasting glucose and insulin, and A1c. When it makes sense, I time hormone testing to your cycle, including estradiol, progesterone, and sometimes DHEA-S and cortisol rhythm, and read them as context, not a verdict.

Four Working Patterns

I also use my four working patterns to organize what I find:

Deficiency & Depletion

Low mood, fatigue, hair shedding, slow recovery

Dysregulated Rhythm

Wired at night, tired by day, anxious, short fuse

Traffic Misdirection

Blood sugar swings, cravings, irritability when hungry

Overloaded Clearance

Puffiness, breast tenderness, bloating, heavy periods

These are clues that organize questions. They don’t diagnose a cause.

What Can Help

Pieces of a Plan Built Around You

There isn’t one right answer, and the best plan is often a combination:

🌅

The Foundations

A steady wake time, morning light, protein at every meal, strength training, less alcohol, and real stress relief. These help hormones and mood, and they work alongside any other treatment.

💬

Therapy

Talking with a counselor, especially cognitive behavioral therapy (CBT), helps with anxiety, low mood, and the transition itself.

💊

Medication, When It’s Right for You

Antidepressants are a legitimate and effective option, for mood and, for some women, hot flashes too. The right choice depends on your symptoms, your other medications, and side effects that matter to you, like changes in desire or sleep. Your prescriber can help you weigh them.

🔄

Hormone Therapy, as a Conversation

In trials, estradiol improved depression in perimenopausal women,[12] and transdermal estradiol with micronized progesterone helped prevent depressive symptoms in the transition.[13] Expert guidelines recognize hormone therapy as an option for perimenopausal depression in the right woman,[14] but it isn’t right for everyone, and it isn’t a substitute for mental health care.

These aren’t competing choices. They’re pieces of a plan built around you.

Questions to Bring to Your Next Appointment
  • “Could my symptoms be related to perimenopause?”
  • “Can we check my thyroid, ferritin, B12, and blood sugar?”
  • “My cycle has changed. Does that matter here?”
  • “My medication helped a little. How will we know if it’s enough, and what are the other options?”
  • “Would hormone therapy be worth discussing for me?”

You’re allowed to ask. A good provider will welcome it.

When to Get Help Right Away

If your mood is heavy and doesn’t lift, if you feel hopeless, or if anxiety is getting in the way of daily life, please talk with your healthcare provider or a mental health professional promptly.

If you’re having thoughts of harming yourself, call or text 988 (the Suicide & Crisis Lifeline in the U.S.), contact your provider, or call emergency services right away. You deserve support, and you don’t have to carry this alone.

You’re Not Imagining It

It’s Not Just You, and It’s Not Too Late to Look Deeper

The changes in your mood are real. They deserve a complete look at your sleep, your thyroid, your nutrients, your stress, and your hormones, with someone who connects the dots. If the timing lines up with other changes, here’s how perimenopause can start without hot flashes.

Your Next Step

Let’s Look at the Whole Picture

If you haven’t yet, start with the free Hormone Type Assessment. And if you’d rather talk through what you’ve been experiencing, I offer a free discovery call. No pressure, just a conversation about whether functional medicine is the right next step for you.

Book Your Free Discovery Call →

To your health and vitality, Dr. Ryan

Common Questions

Frequently Asked Questions

Can perimenopause cause anxiety?

Yes. Swinging estrogen and falling progesterone affect brain systems involved in mood, stress, and sleep, and the risk of anxiety and depressed mood rises during the menopause transition, even in women with no history of either.

How do I know if it’s anxiety or perimenopause?

Often it’s some of both. Clues that hormones are involved include mood changes that started in your late 30s or 40s, changes in your cycle, worse symptoms before your period, night sweats, or 3 a.m. waking. A provider can help sort it out with your history, a symptom log, and targeted labs.

Can a blood test diagnose perimenopause?

Not on its own. Hormone levels swing from day to day, so a normal result on one day doesn’t rule it out. Perimenopause is identified mainly from age, symptoms, and cycle changes.

Should I stop my antidepressant if my symptoms are hormonal?

No, not on your own. Stopping suddenly can cause withdrawal-like symptoms and a return of anxiety. Antidepressants help many women in this transition. Talk with your prescriber about whether other options should be added or adjusted.

Can hormone therapy help perimenopausal depression?

It can for some women. Trials have shown estradiol improved depression in perimenopausal women, and expert guidelines recognize hormone therapy as an option in the right person. It isn’t right for everyone and isn’t a substitute for mental health care.

For educational purposes only. Not a diagnosis, and not a substitute for care from your healthcare provider or a licensed mental health professional. Do not start, stop, or change any medication without talking with your prescriber.

References
  1. Biote. Biote perimenopause survey. 2025. Survey of 1,005 U.S. women ages 30 to 60. biote.com
  2. Cohen LS, Soares CN, Vitonis AF, Otto MW, Harlow BL. Risk for new onset of depression during the menopausal transition: the Harvard study of moods and cycles. Arch Gen Psychiatry. 2006;63(4):385–390.
  3. Freeman EW, Sammel MD, Lin H, Nelson DB. Associations of hormones and menopausal status with depressed mood in women with no history of depression. Arch Gen Psychiatry. 2006;63(4):375–382.
  4. Amin Z, Canli T, Epperson CN. Effect of estrogen-serotonin interactions on mood and cognition. Behav Cogn Neurosci Rev. 2005;4(1):43–58.
  5. Freeman EW, Guthrie KA, Caan B, et al. Efficacy of escitalopram for hot flashes in healthy menopausal women: a randomized controlled trial. JAMA. 2011;305(3):267–274.
  6. Joffe H, Guthrie KA, LaCroix AZ, et al. Low-dose estradiol and the serotonin-norepinephrine reuptake inhibitor venlafaxine for vasomotor symptoms: a randomized clinical trial. JAMA Intern Med. 2014;174(7):1058–1066.
  7. Serretti A, Chiesa A. Treatment-emergent sexual dysfunction related to antidepressants: a meta-analysis. J Clin Psychopharmacol. 2009;29(3):259–266.
  8. Kravitz HM, Ganz PA, Bromberger J, Powell LH, Sutton-Tyrrell K, Meyer PM. Sleep difficulty in women at midlife: a community survey of sleep and the menopausal transition. Menopause. 2003;10(1):19–28.
  9. Vanderpump MP. The epidemiology of thyroid disease. Br Med Bull. 2011;99:39–51.
  10. World Health Organization. WHO guideline on use of ferritin concentrations to assess iron status in individuals and populations. Geneva: WHO; 2020.
  11. Harlow SD, Gass M, Hall JE, et al. Executive summary of the Stages of Reproductive Aging Workshop + 10: addressing the unfinished agenda of staging reproductive aging. J Clin Endocrinol Metab. 2012;97(4):1159–1168.
  12. Soares CN, Almeida OP, Joffe H, Cohen LS. Efficacy of estradiol for the treatment of depressive disorders in perimenopausal women: a double-blind, randomized, placebo-controlled trial. Arch Gen Psychiatry. 2001;58(6):529–534.
  13. Gordon JL, Rubinow DR, Eisenlohr-Moul TA, Xia K, Schmidt PJ, Girdler SS. Efficacy of transdermal estradiol and micronized progesterone in the prevention of depressive symptoms in the menopause transition: a randomized clinical trial. JAMA Psychiatry. 2018;75(2):149–157.
  14. Maki PM, Kornstein SG, Joffe H, et al. Guidelines for the evaluation and treatment of perimenopausal depression: summary and recommendations. Menopause. 2018;25(10):1069–1085.