Psychotic Disorders - GCC | Statista Market Forecast

Revenue in the Psychotic Disorders market is projected to reach US$119.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.24%, resulting in a market volume of US$120.70m 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$184.30 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 GCC is experiencing significant growth due to several factors.

Customer preferences: Customers in the GCC region are increasingly seeking effective treatments for psychotic disorders. They are becoming more aware of the importance of mental health and are actively seeking medical help for themselves or their loved ones. The stigma surrounding mental health is gradually diminishing, leading to an increase in the number of individuals willing to seek treatment. In addition, the rising disposable income and improved healthcare infrastructure in the region have made mental healthcare services more accessible to the population.

Trends in the market: One of the key trends in the Psychotic Disorders market in GCC is the increasing adoption of innovative treatment options. Healthcare providers in the region are embracing new technologies and therapies to improve patient outcomes. For example, there is a growing interest in the use of virtual reality therapy and telemedicine for the treatment of psychotic disorders. These technologies allow healthcare professionals to reach a larger number of patients and provide them with personalized care.Another trend in the market is the focus on early intervention and prevention. Healthcare providers are recognizing the importance of early detection and treatment of psychotic disorders to prevent long-term complications. This has led to the development of screening programs and awareness campaigns to identify individuals at risk and provide them with the necessary support.

Local special circumstances: The GCC region has a unique set of circumstances that contribute to the development of the Psychotic Disorders market. One of the factors is the high prevalence of consanguineous marriages in the region. This increases the risk of genetic disorders, including psychotic disorders, among the population. As a result, there is a higher demand for healthcare services related to these conditions.Additionally, the GCC region has a relatively young population, with a significant portion of the population under the age of 30. This demographic trend creates a larger pool of potential patients for the Psychotic Disorders market. The region also has a high expatriate population, which further contributes to the demand for mental healthcare services.

Underlying macroeconomic factors: The growth of the Psychotic Disorders market in GCC is also influenced by underlying macroeconomic factors. The region has been experiencing economic diversification and development, which has led to an increase in per capita income. This has resulted in improved access to healthcare services and increased affordability for individuals seeking treatment for psychotic disorders.Furthermore, the GCC governments have been investing heavily in healthcare infrastructure and services. This includes the development of specialized mental health facilities and the recruitment of qualified healthcare professionals. These investments have created a favorable environment for the growth of the Psychotic Disorders market in the region.In conclusion, the Psychotic Disorders market in GCC is witnessing significant growth due to changing customer preferences, adoption of innovative treatment options, local special circumstances, and underlying macroeconomic factors. The increasing awareness of mental health, focus on early intervention, and the region's unique demographic and economic characteristics are driving the market's development. As the region continues to invest in healthcare infrastructure and services, the market is expected to further expand in the coming years.

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.