Psychotic Disorders - Baltics | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$22.28m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.40%, resulting in a market volume of US$23.87m by 2029.
In global comparison, most revenue will be generated United States (US$2.26bn in 2024).
In relation to total population figures, per person revenues of US$440.00 are generated in 2024.

Psychotic disorders are severe mental health disorders that cause changes in a person's way of thinking and their perception. Patients often have trouble differentiating between what they perceive and reality. Different types of psychotic disorders include schizophrenia, bipolar disorder, substance-induced psychotic disorder, delusional disorder, and brief psychotic disorder. However, this market only represents the sales of antipsychotic drugs that are used to treat schizophrenia and bipolar disorder.

Market values represent the revenues generated by manufacturers and are based on retail prices for each drug category including all drugs, regardless of whether they are reimbursed or not.

Company examples: Otsuka Pharmaceutical, Lundbeck, AbbVie, Allergan plc, Recordati S.p.A., Gadeon Richter, Sumitomo Pharma, Johnson & Johnson / Janssen, Vanda Pharmaceuticals, Alkermes, Eli Lilly, AstraZeneca, and Intra-Cellular Therapies

Antipsychotic drugs: Aripiprazole (Abilify), Asenapine (Saphris), Cariprazine (Vraylar), Clozapine (Clozaril, Versacloz), lumateperone (Caplyta), Lurasidone (Latuda), Olanzapine (Zyprexa), Quetiapine (Seroquel), Risperidone (Risperdal), Risperidone (Aristada), Ziprasidone (Geodon), Brexpiprazole (Rexulti), Iloperidone (Fanapt), and Paliperidone (Invega)

Psychotherapy
Talk therapy
Herbal medicines
Digital health apps
Deep Brain Stimulation (DBS)

The Psychotic Disorders market in Baltics is experiencing steady growth due to increasing customer preferences for effective treatment options, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Psychotic Disorders market in Baltics are shifting towards innovative and personalized treatment options. Patients are seeking therapies that not only alleviate symptoms but also improve their overall quality of life. This has led to a growing demand for medications that target specific symptoms and have fewer side effects. Additionally, there is a preference for non-pharmacological interventions such as cognitive-behavioral therapy and psychosocial support, as patients are becoming more aware of the importance of holistic treatment approaches.Trends in the market are also contributing to the development of the Psychotic Disorders market in Baltics. One major trend is the increasing use of digital technologies in mental health care. Telemedicine and mobile applications are being utilized to provide remote consultations, monitor treatment progress, and deliver therapeutic interventions. This trend is driven by the need to improve access to mental health services, especially in rural areas where there may be a shortage of healthcare providers. The use of digital technologies also aligns with the preferences of younger generations who are more comfortable with using technology for healthcare purposes.Local special circumstances in the Baltics, such as the high prevalence of mental health disorders and the availability of government support, are also contributing to the growth of the Psychotic Disorders market. The Baltics have reported higher rates of mental health disorders compared to other European countries, which has created a greater need for effective treatment options. Additionally, governments in the region have recognized the importance of mental health and have implemented policies to improve access to care and support for individuals with psychotic disorders. This has led to increased funding for mental health services and the establishment of specialized centers for the treatment of psychotic disorders.Underlying macroeconomic factors, such as economic growth and increasing healthcare expenditure, are further driving the development of the Psychotic Disorders market in the Baltics. As the economies of the Baltics continue to grow, individuals have more disposable income to spend on healthcare. This has resulted in increased healthcare expenditure, including spending on mental health services. Furthermore, governments in the region are investing in healthcare infrastructure and expanding insurance coverage, which has improved access to treatment for individuals with psychotic disorders.In conclusion, the Psychotic Disorders market in the Baltics is developing due to shifting customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for innovative and personalized treatment options, the use of digital technologies in mental health care, the high prevalence of mental health disorders, government support, and economic growth are all contributing to the growth of the market in the region.

Data coverage:

Data encompasses B2C enterprises. Figures are based on companies' revenues, international institutes data, and global consumer survey data. Revenues refer to the retail value and include sales taxes.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports and third-party data. Next, we use relevant key market indicators and data from country-specific associations such as healthcare spending per capita, medical product spending per capita, and gross domestic product per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function. Data is modeled using current exchange rates.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Despite what some may think, mental health problems are common in the United States and around the world. Mental health issues, much like other health issues, can be mild, but can also be life altering, affecting the emotional, social, and psychological well-being of the person. Common types of mental illness include mood disorders, anxiety disorders, eating disorders, and personality disorders. Although symptoms of mental illness differ depending on the type of illness and seriousness of the problem, common symptoms of mental health issues include changes in sleeping and eating habits, social withdrawal, feelings of hopelessness, anger, and prolonged sadness, suicidal thoughts, and substance abuse. In 2022, it was estimated that around 36 percent of those in the U.S. aged 18 to 25 years and 29 percent of those aged 26 to 49 years suffered from some form of mental illness in the past year.