Psychotic Disorders - Belgium

Belgium

Revenue in the Psychotic Disorders market is projected to reach US$143.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.37%, resulting in a market volume of US$145.80m by 2029.
In global comparison, most revenue will be generated in the United States (US$2,257.00m in 2024).
In relation to total population figures, per person revenues of US$0.95k are generated in 2024.

Key regions: Japan, Australia, Europe, India, France

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Analyst Opinion

The Psychotic Disorders market in Belgium is experiencing steady growth due to several factors.

Customer preferences: Customers in Belgium are increasingly seeking effective treatments for psychotic disorders, such as schizophrenia and bipolar disorder. They prioritize medications that can alleviate symptoms and improve their quality of life. Additionally, there is a growing demand for personalized treatment options that take into account individual patient needs and preferences.

Trends in the market: One of the key trends in the Psychotic Disorders market in Belgium is the increasing adoption of atypical antipsychotic medications. These medications have gained popularity due to their ability to effectively manage symptoms while minimizing side effects compared to older generation antipsychotics. This trend is driven by the growing awareness among healthcare professionals and patients about the benefits of atypical antipsychotics.Another trend in the market is the integration of digital health technologies in the management of psychotic disorders. Mobile applications, wearable devices, and online platforms are being used to monitor symptoms, track medication adherence, and provide psychoeducation to patients. These digital solutions offer convenience and support to patients, and are increasingly being embraced by healthcare providers in Belgium.

Local special circumstances: Belgium has a well-developed healthcare system with universal access to healthcare services. This ensures that individuals with psychotic disorders have access to diagnosis, treatment, and ongoing care. The government also provides financial support for the treatment of mental health conditions, making it more affordable for patients to seek appropriate care.

Underlying macroeconomic factors: The Belgian economy has been growing steadily, which has contributed to increased healthcare spending. This has allowed for the development and availability of innovative treatments for psychotic disorders. Additionally, the aging population in Belgium is driving the demand for mental health services, including the treatment of psychotic disorders. As the population ages, the prevalence of these disorders is expected to increase, further driving the growth of the market.In conclusion, the Psychotic Disorders market in Belgium is experiencing growth due to customer preferences for effective treatments, the adoption of atypical antipsychotics, the integration of digital health technologies, the availability of universal healthcare, and the underlying macroeconomic factors of economic growth and an aging population. These factors are expected to continue driving the growth of the market in the coming years.

Methodology

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.