The psychotic disorder treatment market, which is currently estimated to be worth US$ 13.6 billion, is expected to grow to US$ 24.5 billion by the end of 2032. Over the past few years, the general population’s level of stress has grown significantly, which has raised the prevalence of mental diseases including bipolar disorder and schizophrenia. According to Fact.MR, the global market for treating psychotic illnesses will grow rapidly between 2022 and 2032, with a CAGR of 6.1%.
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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Eminent 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
Key Statistics Supporting the Surge
- 21.3% of the global market for treating psychotic disorders is in North America.
- A fifth of the market for treating psychotic disorders is in Europe.
- By 2032, it is anticipated that the market for treating psychotic disorders would be worth US$24.58 billion.
- Due to the bulk of available treatments falling into this group, second generation psychotic illness treatments are expected to dominate the market.
The extension of effective therapy for psychotic disorders is mandated by the rising prevalence of lifestyle-related mental illnesses and the rise in bipolar disorders. According to Fact.MR, “A growing number of individuals with schizophrenia, depressive disorders, bipolar disorders, and other mental diseases are accelerating the growth for treatment of psychotic disorders.
Market Buoyancy Analysis
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.
Segmentation Analysis
- 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
Key Highlights of this Report:
- Industry structure and estimations over the prediction period.
- Past insights and forecasts.
- Psychotic Disorder Treatment Market developments and trends are discussed.
- Regional, sub-regional, and national market scenarios.
- Psychotic Disorder Treatment Market share, SWOT analysis, product specifications, and competitive landscape are all included in the report.
- The study also covers government policies as well as macro and microeconomic variables.
Drugs for psychotic disorders are known to have negative side effects after prolonged usage, which is anticipated to hinder market growth overall. In the upcoming years, the market is anticipated to suffer from the absence of particular medications for the treatment of symptoms of psychotic disorders.
The general public’s lack of knowledge about psychosis treatment options is also anticipated to limit market potential through 2032.
Key Questions Covered in the Psychotic Disorder Treatment Market Report
- What will be the estimated size of the Psychotic Disorder Treatment Market in 2023?
- At what rate will sales in the global Psychotic Disorder Treatment Market grow until 2032?
- Which are the factors hampering the Psychotic Disorder Treatment and in the artificial sweetener market?
- Which region will spearhead the growth in the global Psychotic Disorder Treatment Market during 2022-2032?
- Which are the factors driving sales in the Psychotic Disorder Treatment Market during the forecast period?
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