Currently valued at US$ 13.6 billion, the market for treating psychotic diseases is anticipated to reach US$ 24.5 billion by the end of 2032.
The general population’s level of stress has dramatically increased over the past few years, which has increased the occurrence of mental illnesses including bipolar disorder, schizophrenia, etc.
The number of cases of severe psychotic disorders and mental illnesses has increased over the past several years, and this trend is anticipated to continue during the projected period.
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With government initiatives and efforts made by healthcare organisations to effectively handle the growing caseload of patients with mental illnesses, awareness of psychotic disorders and other mental disorders is rising.
Alterations in lifestyle, the prevalence of stressful economic and global conditions, high-stress environments, the early onset of mental disorders in adolescence, and the rising prevalence of depression are some additional factors that may influence demand for drugs and equipment for treating psychotic disorders over the course of the forecast period.
It is anticipated that makers of medications for psychotic disorders would become discouraged and that this will have a negative impact on the market’s expansion.
Why Demand for Psychotic Disorder Treatment Highest in Europe?
With a sizable market share of 25.4% in the total sector, the market for treating psychotic illnesses in Europe is projected to be worth $3.45 billion in 2022.
People are becoming more aware of mental health issues in this area as serious psychotic disorders are becoming more common.
It is predicted that the region’s demand for psychotic disorder treatment would rise mostly due to rising incidence of serious mental disorders and increased awareness of mental health in North America. With revenues of $2.89 billion and a market share of 21.3%, the region’s market is currently doing well.
Campaigns to increase awareness of mental health issues and the early onset of illnesses like depression and OCD (obsessive-compulsive disorder) are expected to boost growth in the Asia Pacific region’s market for the treatment of psychotic disorders.
The need for homoeopathic treatments for psychosis and natural remedies for psychotic sadness is anticipated to increase continuously through 2032.
Competitive Landscape
Psychotic disorder treatment providers are pushing for the approval of new drugs and treatment therapies from regulatory bodies to fast-track the launch of these novel treatments.
- In February 2022, AbbVie, a leading biopharmaceutical organization, announced that it had submitted a Supplemental New Drug Application to the United States Food and Drug Administration (FDA). The application is based on new clinical trial results for cariprazine (VRAYLAR®) for adjunctive treatment of major depressive disorder (MDD).
- In April 2022, BioXcel Therapeutics, a renowned biopharmaceutical firm, announced that it had received approval for IGALMI™ (dexmedetomidine) Sublingual Film by the U.S. FDA, which will be used to treat bipolar disorder.
Key Players
- Teva Pharmaceutical Industries Ltd.
- Amgen Inc.
- Pfizer Inc.
- Novartis International AG
- Merck & Co. Inc.
- Sanofi S.A.
- Allergan Plc
- Mylan N.V.
- Johnson & Johnson Services Inc.
- F. Hoffmann-La Roche Ltd.
Segmentation of Psychotic Disorder Treatment Industry Research
- By Drug Type :
- Atypical Antipsychotics
- Phenothiazine Antipsychotics
- Thioxanthenes
- Miscellaneous Antipsychotics Agents
- By Indication :
- Schizophrenia
- Bipolar Disorder
- Delusional Disorder
- Drug Induced Psychosis
- Organic Psychosis
- By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Drug Store
- e-Commerce
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Points Covered in the Psychotic Disorder Treatment Report:
• The Psychotic Disorder Treatment market study often examines important trends, risks and incentives, components, industry conditions, and difficulties in the global market.
• The report employed a variety of data and graphs to present a more complete picture of the Psychotic Disorder Treatment market.
• The global analysis contained a preliminary assessment of the industry’s size as well as a full review of the sector.
• This research gives a fast snapshot of the current situation of worldwide regions. The Psychotic Disorder Treatment report includes top sellers, unions, stores, malls, and enterprises.
• The report also contains comprehensive insights into the market segmentation.
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